Cold rush: Why India is rushing to the Arctic

Scientists report that with the current global emission rate of 35 to 40 billion metric tonnes of carbon dioxide each year, we may see ice-free summers in the Arctic in the next 20 to 25 years. Although, they differ in their assessment of melting rates, the implication an ice-free Arctic will have on the oil and gas industry mandates an analysis, especially in the light of India’s recent agreement with Russia for a stake in the Arctic oil.