Major oil companies from the US, UK, Norway, Sweden, and Russia are all set to drill in the Arctic, but a report from the UK Ministry of Defence (MoD) suggests they may be setting themselves up for failure.Drilling in the Arctic is “economically prohibitive," according to the report, which was commissioned by the Swedish Armed Forces and finalized in January 2016.In other words: The companies seeking riches from Arctic’s vast untapped oil and gas wealth are going to be disappointed.

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