The obvious response to ‘growing demand’ being a problem would seem to be to reduce demand. When this has been attempted by states, there have been complaints that this was an unfair burden on business. Once the market adjusted, by increasing price, the same people demanded the right to increase supply. There is not particularly a growing demand for mineral resources; there’s a growing demand for energy and transport, it’s time to get serious about new, cleaner ways of meeting that demand. It has to be remembered that oil and gas from the arctic is not cheap; oil projects in the region cost billions before they even begin extracting. It is also questionable whether there really is 160 billion barrels of oil – it has not been explored so we do not know how much is there. To take an example of just such an uncertainty in a much less extreme environment China claims the South China Sea has up to 200 billion barrels of oil [1] while the US Energy Information Administration thinks it is between 5-22 billion barrels. [2]  [1] Rogers, Will, ‘Beijing’s South China Sea Gamble’, The Diplomat, 4 February 2012,   [2] ‘South China Sea’, U.S. Energy Information Administration, 7 February 2013,