Icebergs near Ilulissat, Greenland. Climate change is having a profound effect in Greenland with glaciers and the Greenland ice cap retreating. Ulrik Pedersen / NurPhoto / Getty Images

Thanks to Ecowatch for publishing this story by Andrea Germanos:

‘Future Belongs to Renewable Energy’: Greenland Ditches All Oil Drilling

Greenland announced Thursday a halt on new oil and gas exploration, citing climate and other environmental impacts.

“Great news!” responded the Center for International Environmental Law.

The government of Greenland, an autonomous Danish dependent territory, framed the move as necessary to transition away from fossil fuels.

“The future does not lie in oil. The future belongs to renewable energy, and in that respect we have much more to gain,” the Greenland government, Naalakkersuisut, said in a statement.

A government statement posted in English points to federal geological data showing there could be 18 billion barrels of oil off the country’s west coast as well as likely “large deposits” off the island’s east coast.

“However,” the statement reads, “the Greenlandic government believes that the price of oil extraction is too high. This is based upon economic calculations, but considerations of the impact on climate and the environment also play a central role in the decision.”

Read the whole story here.