Who owns the Arctic Ocean?

The Law of the Sea: This video gives a good basic description of how The Law of the Sea will be used to divide the Arctic Ocean among several competing nations. A YouTube video from the Al Jazeera channel. read more

This question has enormous economic significance. The United States Geological Survey estimates that up to 25% of the world's remaining oil and natural gas resource might be held within the seafloor of the Arctic Region. read more

No one owns the North Pole, but every country with a border on the Arctic Ocean claims some of its waters. Because the North Pole is covered by an ice shelf and isn't actually land, it is governed by the Law of the Sea, a 1982 U.N. treaty signed by more than 150 countries. read more

The status of certain portions of the Arctic sea region is in dispute for various reasons. Canada, Denmark, Norway, Russia, and the United States all regard parts of the Arctic seas as national waters (territorial waters out to 12 nautical miles (22 km)) or internal waters. read more