Economics
Oil Price Slump Kills Greenland Independence Hopes Amid Election
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Less than half a decade ago, Greenlanders were imagining the riches that would follow an oil bonanza as the price of crude approached $150 a barrel. That wealth was supposed to buy the island independence from Denmark.
Yesterday, with oil trading at less than $75, well below levels that would make exploration off the world’s largest island profitable, Greenlanders cast their votes for a new home-rule government after the previous administration collapsed amid an expenses scandal.