The tidal wave of media excitement about the Arctic Ocean, spurred primarily by a combination of concerns about the effects on the ice as a result of global climate change and the planting of a flag on the North Pole by Russian interests in August 2007, appears to be subsiding. The "scramble for resources" has not materialized in the manner that the media (and uninformed commentators) forecasted, and the European idea that a new international regime is necessary for the Arctic Ocean has melted away. This is not to suggest that all of the principal parties in the Arctic Ocean see eye-to-eye on matters.
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