Countries of the Far North are set to be the new players in the emerging Arctic frontier. The polar ice cap is melting at much faster rates than previously predicted, and may be completely ice free by the summer of 2040 or sooner. There are vast untapped resources in the Arctic Ocean such as new shipping lanes, fishing grounds, tourism, and it is believed to contain the largest of the world’s remaining energy reserves. This year has brought about a frenzy of oil and gas exploration which will only increase as the ice recedes. The coming summer will bring an even more intense search for resources. Cooperation will be required among the northern nations to avert territorial disputes and conflicts at the top of the world.