Guest essay by Eric Worrall
The Greenland Government, which currently survives on handouts from Denmark, has voted not to encourage the development of local oil and mineral resources, because of climate change.
Greenland suspends oil exploration because of climate change
COPENHAGEN, Denmark (AP) — The left-leaning government on Greenland which could be sitting on vast oil reserves, has decided to suspend all oil exploration off the the world’s largest island, calling it is “a natural step” because the Arctic government “takes the climate crisis seriously.”
No oil has yet been found in the waters of Greenland which had ambitions that hydrocarbons would be crucial to help Greenlanders realize their long-held dream of cutting the annual subsidy of 3.4 billion kroner ($540 million) from Denmark that currently rules out full independence.
Global warming means that the retreating ice could uncover potential oil and mineral resources which, if successfully tapped, could dramatically change the fortunes of the semiautonomous Danish territory of 57,000 people.
“The future does not lie in oil. The future belongs to the renewable energy and in that respect we have much more to gain,” the Greenland government said in a statement. It “wants to take co-responsibility for combating the global climate crisis.”
In my opinion this is rather sad news for local Greenlanders.
Greenland suffers the highest rate of youth suicide in the world, endemic poverty, a total lack of opportunity, and rampant alcohol and drug abuse – possibly because they are mostly a government handout economy. Two thirds of Greenland’s economy is based on money gifted from Denmark.
Driving forward a genuine domestic mineral export economy, requiring mining companies to hire locals, could have potentially changed all that, by offering more young people pride and hope for a better future, along with a serious source of private sector income.