A Texas oil company that wants to extract what could amount to billions of barrels of oil from East Greenland’s Arctic basin has crossed a red line before even starting to drill. In a statement issued on July 30, Greenland’s mineral resources authority said it had become aware that Greenland Energy – a Texas oil company founded last year – had transferred drilling equipment ashore on a remote stretch of the island’s eastern coast. “All future logistical matters must be advised and approved by the mineral resources authority – before they are carried out,” the government said. Greenland Energy has claimed that $1 trillion in crude oil may lie beneath the Jameson Land region. The firm thus announced plans to spend $60 million drilling two exploratory wells to find out.
Greenland issues warning against US oil drilling on its territory
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