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| US oil company holds key to Trump's Greenland drilling ambitions |
| 2026-10-26 |
| [FOX] An American company says it's positioned to tap into a potentially massive oil prospect in Greenland next year, following President Donald Trump's announcement that resource exploration "is getting ready to begin" on the Arctic island. Greenland Energy Company is in the permitting process to drill its first well in 2027 in eastern Greenland, according to CEO Robert Price. The company claims that its project, in partnership with British company 80 Mile, holds the sole oil permits for exploratory drilling in Greenland, which makes it a potential key player in Trump's interest in Greenland's resources. Trump announced on Truth Social last week that "massive" resource exploration was expected to start in Greenland. "Massive Oil, Gas, and Mineral Exploration is getting ready to begin in our new and beautiful Greenland!" Trump posted on Truth Social. "There are Experts that are saying that the amount of easily available Oil is far greater than that of almost any land, anywhere in the World and, even more importantly, from a Security Purpose in the Defense and Offense of both the United States of America, and Europe, is second to none," he continued. Trump's announcement did not specify details about how or when resource exploration would begin in Greenland. Greenland's government stopped granting new oil and gas permits in 2021 over concerns about the environmental impact of oil extraction. However, existing permits granted before 2021 remain valid, pending additional government approval for extraction. According to Greenland's Ministry of Business and Mineral Resources, White Flame Energy, which is owned by 80 Mile, obtained two permits in 2015 and a third in 2018 for exploratory drilling and possible extraction of oil in Jameson Land in eastern Greenland. Price's company, Greenland Energy, has partnered with the British company as an investor in the endeavor and will act as the operator of the project. Price says the project has drawn the attention of governments and investors due to the potential significance the oil might have to reduce U.S. dependence on foreign oil supplies. According to Price, an independent engineering report found that the planned drilling site could contain up to 13 billion barrels of crude oil. The exact quantity of oil present in the Jameson Land Basin and whether the oil can be economically extracted will not be known until exploratory drilling occurs. Related: Greenland: 2026-10-16 The whip against the butt: Britain holds Zelensky by the hand, the US by the throat Greenland: 2026-10-04 Javier Milei Blasts U.N. as ‘Useless,' ‘Arrogant [self-serving] Parasites' at General Assembly Greenland: 2026-09-29 Victor Davis Hanson: If Iran Cracks, the World Will Never Be the Same |
| Posted by:Skidmark |