A rctic Treasures: Global Assets Melting Away says that climate changes in the Arctic are already costing the world somewhere between $67 billion and $371 billion annually. As permafrost melts it will release large amounts of stored greenhouse gases, contributing to greater warming as well as higher economic costs. Meanwhile, a three-year study aboard a research vessel spending winters above the Arctic Circle, involving more than 370 scientists, and led by the University of Manitoba's David Barber has concluded. [1]

How does the AO work? In two phases, according to the National Oceanographic and Atmospheric Administration, or NOAA, which maps oceans and the atmosphere to assess weather and preserve biospheres. In one phase, the pressure is lower over the Arctic and higher over the "middle" latitudes (roughly corresponding to 75 degrees North), and the Arctic Ocean is colder. [2]