Greenland makes oil companies melt

The remote oil fields of Greenland could become a new Eldorado for oil companies thanks to a spectacular rise in fossil fuel prices and uncertainty concerning future supplies, experts say.
Greenland will this week launch a new round of concessions for oil and gas exploration and officials expect record bidding.
“We have never known a level of interest for oil exploration like today, which makes us optimistic. Our dream of becoming a heavyweight energy producer could become reality one day,” Joern Skov Nielsen, division head of Greenland’s Bureau of Minerals and Petroleum, told AFP.
Greenpeace and the World Wildlife Fund have both expressed concern about the effect on whales, shellfish and sea birds living in the area.
Greenland’s local government has promised that the environment will be protected.
But it also points out that Disko bay oil production could provide a vital financial windfall for the 58,000 inhabitants of Greenland, mostly Inuits, who won home rule from Denmark in 1979.

Financial Express bd