Greenland can have billions of oil dollars lurking under its coasts, but a new exploration of oil and gas is still ending in a surprise commitment to climate change and the environment. The decision, announced this week, reaches Greenland also prohibits uranium mining as part of “a profound belief that commercial activities should take into account nature and the environment.”
It is fair to say that Greenland is not short in the oil and gas reserves, with a lot of natural resources that is believed to be waiting under the ground. “A recent study of the Geological Study of Denmark and Greenland (GEOS) estimates that there is DKK 18 billion [$ 2.9 billion] of barrels of oil on the west coast of Greenland,” Naalakkersuisut, the Government of Greenland, said in a statement . “It is also expected that large deposits are hidden under the seabed on the east coast of Greenland”.
Despite the economic potential of those discoveries, however, Greenland has opted for not going to hunt them. The government will no longer issue licenses for oil and gas exploration, confirmed. Instead, renewable energy options will be seen in place.
“As a society, we should dare to stop and ask ourselves why we want to exploit a resource,” said Naa H. Nathanielsen, Minister of Housing, Infrastructure, Mineral Resources and Gender Equality, in a statement. “Is the decision based on the updated perception and the belief that is right? Or we just continue the businesses as usual? It is the position of the Grove Government that our country is better focusing on sustainable development, such as the potential of renewable energy “.
Greenland currently has no active oil field, but had been working with a series of companies in potential sites. The objective was to increase the income for the Danish territory, which has expected to declare independence. However, so that this is feasible, you must find a replacement for the annual subsidy you receive from Denmark; In 2012, it was estimated at around $ 650 million.
However, when Inuit Ataqatigiit match on the left took control of Naalakkersuisut earlier this year, however, he promised to make more green decisions. Although four existing licenses will be kept in force for oil and gas exploration, given that they were agreed before this new decision, other licenses will not be issued.
“Naalakkersuisut takes climate change seriously,” said Kalistat Lund, Minister of Agriculture, Self-sufficiency, Energy and Environment, in a statement. “We can see the consequences in our country every day, and we are ready to contribute to global solutions for climate change. Naalakkersuisut is working to attract new investments for the great hydroelectric potential that we can not explode us. The decision to stop the new exploration For oil, it will contribute to placing Greenland as the country where sustainable investments are taken seriously. “
These consequences had become increasingly visible to Greenland as the impact of climate change in the form of conditions in the Danish territory. Dramatic acceleration in the casting of the ice sheet has led to registered losses; Meanwhile, ocean levels are increasing. Meanwhile, there are concerns that the widespread exploration of oil could have a detrimental impact on one of Greenland’s main exports, fishing.
In addition to restricting petrochemical drilling, Naalakkersuisut has also confirmed that it will not allow uranium mining. While Greenland remains open to mineral exploitation, with everything from diamonds and gold, through copper and platinum, discovered there, a bill that has been sent to the consultation would block the uranium from that list.
