Oil and gas

climate change arctic drilling
The Prirazlomnoye platform is Russia's first major project in the Arctic shelf.

Melting ice at the Arctic is also making it easier for oil exploration and drilling. Several major projects are already underway, and nations are racing to claim stakes to land.

Russian oil companies like Rosneft and Gazprom Neft are major players, but so are Shell (RDSA) and Exxon Mobil (XOM).

The irony here, of course, is that fossil fuels are what's contributing most to global warming.

First published January 16, 2015: 1:00 PM ET

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