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US, Canada and Finland form ‘Ice Pact’ to project influence into Arctic region
(www.theguardian.com)
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That's the point. Less ice means shipping vessels can use the Northwest Passage as a way to navigate between the Atlantic and Pacific oceans. If the territory is "owned" by a country, or a group of countries, all vessels can be charged a fee for using it just like the Panama and Suez Canals. Most northern countries have been fighting over ownership of the Northwest Passage for decades. Canada even moved native populations further north to strengthen their claim.