The lack of ice cover means new areas will be open for fishing, mineral extraction, and oil and gas exploration. The U.S. Geological Survey estimates that 30 percent of the world’s undiscovered natural gas resources and 13 percent of conventional oil lie in the Arctic. Lithium to power batteries and rare-earth metals for silicon chips are thought to lie in the seafloor as well. Formerly remote and largely inaccessible places will be open for business.
