It now seems that a British oil firm will announce this week that they have struck oil off Greenland. It is very likely that this is going to trigger a rush to exploit oil reserves in the pristine waters of the Arctic. This is, of course, something that Greenpeace is against

Cairn Energy is the very first company to win permission to drill for oil in this very sensitive environment. It will be breaking news to the London stock market about the find, as well as make its half yearly financial results.

Earlier this week, Cairn Energy declined to comment about the find. However, sources did confirm that hydrocarbons had been found and that Greenland’s foreign office said that it was hopeful Cairn Energy would have something positive to reveal.

This news will be a big delight to the oil industry. This is an industry that believes that the Arctic is one of the last places on earth that is a huge reserve. This will also be a delight to the Greenland government and its very fragile economy. Greenland is an area that has been very dependent on fishing, tourism and taking cash handouts from Denmark.

Although this may seem like a win, win for everyone, not everyone is happy with this latest find. In fact, Greenpeace and other activists have been campaigning to stop drilling on the grounds that any accident would be disastrous. A mistake, like the one that was made in the Deepwater Horizon blowout, would be just disastrous for this whole area, including the wildlife. Despite this, it does not appear that Greenpeace is able to get its point across, as many places seem to be very excited about the find.