Due to concerns about climate change, Greenland has suspended all future oil exploration to show that the government is taking the climate crisis seriously.
The government created a climate crisis Most concerned issues Since taking office in April, although the underground is expected to contain a large amount of unexplored oil, the need to protect the country’s natural resources has become a top priority.
The government says In the statement It “has decided to stop issuing new permits for Greenland oil and gas exploration. This step is taken for our nature, for our fisheries, for our tourism, and to focus our business on the potential for sustainable development. on.”
The Geological Survey of Denmark and Greenland (GEUS) estimates that there are nearly 18 billion barrels of undiscovered oil on the west coast of Greenland. It is expected that large deposits will also be hidden under the seabed on the east coast of the island.
Although this legislative action is a climate victory, it cuts off potential investments that may help to gain economic independence from Denmark. Current control The island’s foreign affairs, national defense, and security policies, as well as approximately two-thirds of the Arctic’s economy, are allocated annually.
The decision to stop oil exploration was made when the giant island saw the accelerating effects of climate change. According to a study, since 1880, the average sea level has risen by about 9 inches, and about a quarter of this has come from the melting of the Greenland and Antarctic ice sheets. NOAA climate research.
“The future does not lie in oil. The future belongs to renewable energy, and we have a lot to gain in this respect,” the government added.
In recent years, other European countries have also ended their plans for future oil exploration, including Denmark, France, Spain and Ireland. Bloomberg.
