The Economics of Living at the Top of the World
The Economics of Living at the Top of the World
By Randall Hyman
Foreign Affairs
Norway’s Svalbard archipelago, which sits some 700 miles from the North Pole, is barren when it comes to people but abundant in coal. For decades, anyone who settled there was primarily in the area to mine, but in 2013, hit by low oil prices, coal became unprofitable and Norway decided to diversify away from fossil fuels. It committed to developing more renewable…
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