The chapter provides a comparative perspective on resource extraction with an empirical basis in Svalbard. Is the Arctic comparable to tendencies seen elsewhere, or is it unique? Many regions dependent on extraction face pressures to shift away from unsustainable economies. Social tensions are refracted through this lens, resulting in political conflicts affecting extraction policies. How does resource extraction in the Arctic fit into this pattern? The case analysed is Longyearbyen, Svalbard, which is irreducibly linked to a century of coal mining. The history and possible future of Svalbard relies on taking something out from the environment. In the 1990s, tourism was chosen as the new economic backbone. Research and education were boosted to ensure a continued Norwegian presence. Extraction continues, now directed towards “mining” knowledge (research), experience and memories (tourism), accompanied by insufficient added value locally, growing social inequalities and exploitation of international workforce. Like other communities based on extraction, Longyearbyen is volatile and dependent on forces beyond local control, but it also reflects the fragility of the Arctic.