Peak Oil News - The race to own the top of the world

— 'We were there first and we can claim the entire Arctic, but if our neighbours like Canada want some part of it, then maybe we can negotiate with them," says Vladimir Zhirinovsky, the flamboyant Russian ultranationalist, who happily hands out pictures of a Russian flag sitting on the seabed at the North Pole. Mr. Zhirinovsky, the populist leader of Russia's misnamed Liberal Democratic Party, is often derided in the West as an extremist xenophobe, but a clash over who controls the top of the world and the oil and gas beneath the Arctic seabed seems inevitable.

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