Vladimir Potanin, one of the 50 richest people on the planet, stood awkwardly on the Siberian tundra near the remote mining city of Norilsk. It had been less than a week since a spill that threatened to become one of Russia’s worst disasters in the Arctic, caused entirely by an aging fuel tank owned by his mining operations. The billionaire was about to receive a verbal lashing from Russian President Vladimir Putin in front of a national audience.
Points
- The Arctic is warming faster than any other region on Earth.
- If the Arctic melts, the world could face rapid warming due to the effects of a blue ocean event.
- Russia is geographically positioned to economically benefit from some of the effects of climate change. If the Arctic melts, it opens shipping lanes to Northern Russia.
- While the effects of climate change could cause millions of deaths and biodiversity collapse, Russia might not be willing to give up their perceived economic benefits of a melting Arctic.