As reported by The Independent, A scientific study has found that Greenland is actually connected to the area beneath the polar ice where the North Pole lies – thanks to a huge stretch of continental crust known as the Lomonosov Ridge. Since Greenland is a Danish territory, that gives the country the right to put its hat in the ring for ownership of the stretch of land, Denmark’s foreign minister [Martin Lidegaard ] said. ... Of the five Arctic countries – the US, Russia, Norway, Canada and Denmark —only Canada and Russia had indicated an interest in the North Pole territory until now. "This is a historical milestone for Denmark and many others as the area has an impact on the lives of lot of people. After the U.N. panel had taken a decision based on scientific data, comes a political process," Lidegaard told The Associated Press in an interview on Friday. "I expect this to take some time. An answer will come in a few decades. Why such a big deal? As Business Insider notes, The U.S. currently estimates that the Arctic sea bed could contain 15% of the earth's remaining oil, along with 30% of the planet's natural gas and 20% of its liquefied natural gas. Whichever country is able to successfully claim the Arctic would have the right to extract these resources.