The Stream, May 13: The Battle for the Arctic

Secret U.S. embassy cables released by Wikileaks reveal that several states, including the United States and Russia, are actively hunting for natural resources in the Arctic, the BBC reports.

The world must scale down its use of natural resources in order to avoid a ruinous shortage of raw materials in the next decades, a new United Nations report warns. The study also identifies China’s development as a litmus test for the global economy.

The water resources are under extreme pressure in Texas, where the longest dry spell on record is spreading further, threatening to cause economic losses of at least $3 billion.

As the U.S. Congress debates gas prices and tax breaks for big oil companies, and top energy executives testify on Capitol Hill, The Associated Press looks at some of the biggest tax breaks in place for the U.S. oil industry.

Recent oil spills are stoking opposition to the controversial Alberta-to-Texas tar sands pipeline, which is undergoing environmental review in the United States, Reuters reports.

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