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An oil reserve with a potential of 500 billion barrels has been discovered. However, this wealth cannot be exploited. Find out why!
Imagine an oil reserve so colossal that it would make even Saudi Arabia look modest.
This dark treasure, now located in the deep, icy waters of Antarctica, could transform global energy trends and rebalance economic forces.
However, an impenetrable legal barrier prevents any exploitation of this invaluable resource.
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Russia was responsible for the discovery of this vast reserve, but the use of this “black gold” is far from being a reality, since the region is protected by international agreements.
The historic discovery in the Weddell Sea
The magnitude of the Russian discovery in Antarctica, reported by the newspaper Valor Econômico, is impressive: around 500 billion barrels of oil, nearly double Saudi Arabia's proven reserves in 2022, according to the Organization of the Petroleum Exporting Countries (OPEC).
The revelation came from a mission conducted by Russian research vessels in the Weddell Sea., an area that forms part of British overseas territory claims.
However, access to and exploration of these reserves faces a seemingly insurmountable challenge: the Antarctic Treaty.
The treaty, in force since 1959, regulates the exploration of the frozen continent.
It establishes that Antarctica is a zone dedicated to science and peace., without recognition of sovereignty over any territory.
Seven countries, including the UK and France, maintain historic claims on hold, while Russia continues to carry out sometimes controversial research activities in the region.
Environmental constraints and policy challenges
Despite the immense exploratory potential, The Antarctic Treaty prohibits any type of mineral exploration or extraction of natural resources.
The document, reinforced by the Antarctic Environmental Protection Convention in 1991, seeks to preserve the local ecosystem, considered sensitive and crucial for global climate balance.
According to Jefferson Simões, vice-president of the Scientific Committee for Antarctic Research (SCAR), the treaty not only ensures the peaceful nature of the territory, but also prevents the region from becoming the scene of international conflicts.
For Simões, any attempt at exploration would put at risk a fragile environment full of species adapted to the extreme climate of Antarctica.
During the harsh Antarctic winter, for example, the sea freezes, meaning an oil spill would cause lasting damage to the ecosystem.
“In Antarctica, the degradation of oils would be much slower, impacting the food chain for decades,” explains the expert.
International agreements and new tensions with Russia
The discovery brings to the fore discussions about the future of Antarctica and Russia's position in energy geopolitics.
For Luis Augusto Rutledge, geopolitical and energy analyst at the Center for International Relations Studies (Ceres), Russian presence in Antarctica is a warning to the international community.
According to the expert, “Russia has been carrying out surveys of oil and gas in unexplored areas, which could culminate in a review of the Treaty and trigger debates on local resources.”
Rutledge warns of the risk of conflict between Russia and the West if tensions increase over sovereignty and the exploitation of these resources.
He recalls that after the invasion of Ukraine, Russia's stance on international agreements has been questioned.
According to him, Russian activity in Antarctica generates distrust, since, although presented as scientific, it may hide interests in energy exploration.
The high costs and technical challenges
Even if there were an opening for the exploration of reserves, experts point out that technical and financial difficulties make this undertaking unviable in the short term.
According to Jefferson Simões, the challenges go beyond the presence of the resource; the distance and extreme climatic conditions of Antarctica also significantly increase logistical and environmental costs.
“Antarctica is one of the most aggressive environments on Earth, and there are other areas on the planet for oil and gas exploration with much lower costs and more economically attractive,” he highlights.
Furthermore, Russia faces a number of economic barriers that make investment even less advantageous, especially with international sanctions and growing geopolitical isolation.
For Simões, this discovery, at least in the coming years, is more of a curiosity than a concrete possibility of exploration..
Antarctica's role in the world's climate
Antarctica is not only a potential source of energy, but also plays a key role in the global climate balance.
Located at the South Pole, this region is home to around 90% of the planet's ice, representing approximately 80% of the world's fresh water.
This continent acts as one of the main regulators of average sea levels. and influences atmospheric and oceanic circulation.
Simões emphasizes that the impact of Antarctica on the climate system is as vital as that of the Amazon, both being essential for controlling the global climate.
Although the energy potential of the reserve is tempting, its exploitation would entail immeasurable environmental risks and would destabilize an area that is crucial for climate balance.
For now, preservation policies prevail, but the discovery of this “black gold” will certainly reignite diplomatic and environmental debates, especially among nations with exploration interests.
Will countries one day be able to reach an agreement to explore this oil reserve in Antarctica without compromising the global environmental balance?
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