Texas-based Greenland Energy plans to begin oil drilling off Greenland's east coast in October, even as Greenland's resource ministry says no exploration permits have been issued and the territory halted new licensing five years ago. Chief Executive Robert Price, who presented the plans in Ittoqqortoormiit in June, said an Arctic vessel will depart on Sept. 12 with equipment bound for the Jameson Land peninsula. The company is prepared to pay $60 million to drill two wells in partnership with Halliburton for a majority stake, claiming the area could hold a trillion dollars in crude oil.
The project is tied to allies of President Donald Trump who advocate bringing Greenland under U.S. control. Major shareholders include financier Larry Swets, who chairs the board, and billionaire Kenneth Griffin, who acquired a nine percent stake in April. Louisiana Governor Jeff Landry has envisioned Greenland exporting up to two million barrels a day.
Local opposition is mounting. A community committee in Ittoqqortoormiit has called for demonstrations across Greenland on Monday, July 13, with committee chair Hans Brønlund declaring: "We are not a U.S. gas station." The company this week cancelled a planned visit by television host Dr. Phil to the town.