Capitalism loves global warming.
The article linked below tells us how Norway's push towards the Arctic circle is just the beginning for new oil and gas exploration opportunities brought on by global warming. Here we are seeing how runaway global warming will happen in practice. Capitalism, as a system loves global warming because it presents new money making opportunities. If one party steps back from oil and gas exploration within the Arctic circle for moral reasons, another will simply walk on through and take the booty.
The only way to stop such a free-for-all is to set up a treaty such as the Antarctic Treaty. This has been extremely important in negotiating terms of protection for all aspects of the territory. See http://www.antarctica.ac.uk/About_Antarctica/Treaty/ . But it is probably too late.
There appears to have been little discussion by international NGOs about Norway's new oil and gas exploration moves. Yet they have been happy to sound the alarm about US intentions within Northern Alaska. Does this show an anti-American bias or is the (Nobel) Norway simply good at staying out of the limelight?