The Reindalen Valley in the Norwegian archipelago of Svalbard, April 29, 2015.
NASA / Reuters

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 energy sources, transitioning slowly from oil to gas and selling off coal stocks from its $900 billion sovereign wealth fund, the largest in the world. Against this background, Norway closed its main coal mine in Svalbard early this year, sending

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