Independent: The news that massive deposits of oil and gas have been found in the Arctic confirms what geologists, oil companies and governments have believed for decades: that these icy wastes house vast fossil fuel resources. But the precise estimate now made by the United States Geological Survey – suggesting that the region contains about one-third of the world’s undiscovered gas and about one-sixth of its undiscovered oil – is bound, at a time of high oil prices, to accelerate what could well be the …