Worth Of Wrangel Island
Few realize the value of Wrangel Island. Location, location, location—the realtor credo--optimum for any piece of property. Wrangel Island is a frozen, almost uninhabited wasteland island in the Arctic Ocean. It’s 90 miles north of Siberia and 300 miles northwest of Point Hope, Alaska, and only as large as Delaware and Rhode Island, combined.
Wrangel by itself is of almost no economic worth. But its huge importance is starting to be realized. It‘s the closest land to a vast amount of the Arctic Ocean. Estimations now are the Arctic is estimated to hold 25 percent of the world's recoverable oil and gas. And America has just recently vaulted into the world’s lead as the major oil and gas producer.