Supposedly, there's a hell of a lot of oil and gas in the Arctic and everyone's salivating over it. The US might even ratify the Law of the Sea treaty to get a fair shot at the prizes up north.
Animal rights and environmental advocates need to pay attention to this. Look who lives in the Arctic: polar bear - caribou - musk ox - wolf - wolverine - arctic fox - ermine - lemming - arctic hare - arctic ground squirrel - birds - whales - harp seal - walrus.
Here's a great article giving an overview of the politics. Alaskan Senator Lisa Murkowski is pushing for treaty ratification. Always watch out when Alaska is in support of something.