The Arctic region is situated in the northernmost part of the globe, and sits on an approximated total of 8% of the earth’s surface. The surrounding lands consists of such countries as Denmark, Norway, the United States (via Alaska), Canada, Iceland, Sweden, Finland and the Russian Federation. The polar climate in the Arctic region comprises long and extremely chilly winters when temperatures can drop to points below the threshold of human survival. The region has been explored by interested nations throughout history for such reasons as economic prosperity. Others have expressed their interests in the region for purely military reasons like during the Second World War when the strategic position of the region made it suitable for use as a supply route. Researchers note that the potential and projected economic growth in the Arctic region has been the major source of the ever-increasing quests for exploration of the region throughout history. Countries in the region, and their respective enterprises have embarked on intense scramble for the region with a bid to exploring faster routes of shipping, geostrategic military advantages and vast hydrocarbon reserves. It is estimated that of all the world’s undiscovered energy or petroleum resources, about 25% lies in the region with 75% of the total being natural gas. The vast resources reserves, apart from predicting a brighter future for the economy of the arctic region, has been identified as a potential conflict hotspot among the eight aforementioned arctic countries with the major contenders being the U.S and Russia. While the U.S previously had a strong footing in the region, Russia has spent extravagantly to ameliorate its dominance, thus, signaling a new era and prospects of conflicts for resources and territory. Contrary to the popular projection, however, while the paradigm shift and scramble for the resources may heat, they are unlikely to result into major conflicts save for the minor disputes that have characterized arctic exploration over time, since the states continue to co-operate. In addition, the presence of the U.S military will boost the economy of the region.