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Greenland Suspends Oil And Gas Exploration, Climate Costs Too High

Greenland Suspends Oil And Gas Exploration, Climate Costs Too High
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Greenland scraps all future oil exploration

Greenland dropped all plans for future oil exploration on environmental grounds, saying the price of extraction was “too high.” The island’s socialist-led government, in office since April, has made climate concerns central to its legislative program. While the decision to scrap planned exploration is a win for environmental groups, it cuts off potential investments that could have aided efforts to gain economic independence from Denmark. The government “has decided to cease issuing new licenses for oil and gas exploration,” it said in a statement. “This step has been taken for the sake of our nature, for the sake of our fisheries, for the sake of our tourism industry, and to focus our business on sustainable potentials.”

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