Wednesday, November 16, 2011

Guggenheim Partners announces Arctic investment fund

5:23 AM | Posted by Free Game Zone | | Edit Post

Environmentalists fear the move by the private investment firm based in the United States will accelerate the exploitation of the region

Guggenheim Partners, a private investment firm based in the United States, which manages over $ 125 billion of assets on behalf of its clients, confirmed that the creation of a new fund dedicated to investments in the Arctic region.

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has been criticized by environmentalists, who fear that further accelerate the exploitation of oil and shipping companies in the region becomes more accessible by climate change.

The fund was revealed this weekend at a conference organized by the Juneau World Affairs Council in the capital of Alaska to the "politics of climate change." Alice Rogoff, the editor Alaska Dispatch who is married to one of the richest men in America, Carlyle Group co-founder David Rubenstein told the conference he had learned Guggenheim Partners was planning a fund " billion. "He added that they could focus first on strengthening break the ice with private funds, which could be leased to United States Coast Guard.

were growing calls to Alaska to $ 1 billion switch "heavy" ice that could be used not only to help cope with any potential oil spill and conduct research and rescue duties, but also safer for new routes in the region. Shell confirmed last year that is already building two icebreakers of its own in the preparation of the granting of a permit to drill in the Chukchi and Beaufort Sea next year.
  • Mead Treadwell, Lieutenant-General of Alaska, said the fund was an "important announcement" for the region, adding that the Arctic Alaska does not currently have a port in deep water. Without an available port, said oil companies to incur additional costs for having to give a "flotilla" of support vessels for offshore drilling.
The Guggenheim Partners web site posted a link to a story from Alaska Dispatch on the bottom, but a spokesman declined to give details. "We are now planning early for a mutual fund in the Arctic," said Jeffrey Kelley. "At this stage would be premature to comment on the possible structure or investment parameters."

permanently attached to a journey through the Bering Strait to the Arctic would be a boon for shipping and resource extractors. Last month, Nordic Bulk Carriers, a Danish shipping company said it could save a third of their spending habits, and almost half of the products shipped on time if there is a route to China was available through the Arctic, rather than through the Suez Canal and the Indian Ocean.

Ben Ayliffe, Greenpeace Arctic activist, criticized the bottom: "It is not surprising that the industry that got us into the worst economic crisis in living memory has now the largest planet in the desert for the last time in their expectations. But even by their own rules, it would be too short to pay billions of dollars in the extraction of fossil fuels and climate change scientists warn that the Arctic sea ice has entered the summer to death called 'spiral' . "
Greenpeace is campaigning for the Arctic to be better protected.



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