A Texas oil company backed by Trump-linked investors is preparing to ship drilling equipment to Greenland, claiming it holds the necessary permits to explore for crude reserves. But Greenland's government says no such permissions exist, setting up a confrontation between American business interests and Arctic authorities.
Greenland Energy, which went public on the Nasdaq last year, has charted an Arctic vessel to deliver 300 shipping containers of drilling gear to Jameson Land in eastern Greenland. The company plans to begin operations in October if equipment departs as scheduled in mid-September. The venture hinges on exploring licenses originally held by a UK-registered firm called 80 Mile, which Greenland Energy has partnered with by pledging $60m to fund two exploratory wells in exchange for a majority stake.
Robert Price, the public face of Greenland Energy, addressed residents of the remote settlement Ittoqqortoormiit in June to explain the project. "We have the permit to put the equipment on the land," Price said through an interpreter. "And then we've filed our permits, pending approval, to drill."
Greenland's resources ministry flatly contradicted that account, stating there were "no actually active permissions for any exploration activity or permissions for preparations for these activities."
The dispute reflects deeper anxieties in the territory. Trump has repeatedly called for the US to acquire Greenland, and his administration has sent a special envoy, Louisiana Governor Jeff Landry, to press the case. Landry visited in May and declared on Fox News that Greenland could be exporting 2 million barrels daily and reach production within ten months, framing energy extraction as central to American control of the territory.
Greenland stopped issuing new oil exploration licenses in 2021 after five decades of unsuccessful drilling, citing environmental concerns. The handful of existing licenses, including those in Jameson Land, became increasingly valuable as Trump moved to tie them to his broader annexation ambitions.
Local officials express deep unease. Avaaraq Olsen, mayor of the region containing the capital Nuuk and extending to Jameson Land, said she was "so afraid" that a successful American oil strike could align with Trump's takeover plans. "We are like the most peaceful place on Earth," she said. "And suddenly there is all these Americans trying to take over."
Greenland Energy's roster of backers has grown increasingly Trump-adjacent. Wall Street billionaire Kenneth Griffin, a major Republican donor who contributed $1m toward Trump's second inauguration, purchased 9% of the company in April. In June, Carol Craig, founder of the defence tech firm Sidus Space which is developing Trump's Golden Dome missile defence system, joined the board. Trump has said controlling Greenland, home to the US military's space base at Pituffik, is vital to the Golden Dome project.
That same month, Greenland Energy announced a partnership with Envoy Media, owned by television personality Phil McGraw. McGraw has spoken at Trump rallies and recently embedded himself with immigration enforcement agents implementing the president's deportation agenda. Envoy will produce a documentary series about Greenland Energy's operations, marketed as capturing "the mission of these modern-day wildcatters."
McGraw appeared in a promotional video discussing Greenland's oil potential with company executives, saying "we've heard Trump talk about buying Greenland and everybody laughed, but actually there is some real value to Greenland." He subsequently visited the Oval Office, where Trump praised him for serving on the president's Religious Liberty Commission.
Price claims Jameson Land could hold $1 trillion worth of crude, though he acknowledged the company cannot confirm this without drilling. The proposed wells would be located in a wetland zone protected under the international Ramsar Convention. David Boertmann, a Greenland bird expert, noted the area hosts significant populations of barnacle geese, pink-footed geese, whimbrels, golden plovers, Sabine's gulls, snowy owls, and muskoxen. Oil exploration could threaten their habitat.
Greenland's mineral resources minister, Múte B Egede, has signaled skepticism. Days after Price's June remarks, Egede said he could "understand if citizens are concerned" about the project's Trump connections. "Activities cannot be carried out until the necessary permits have been granted," he stated. "The company's statements to the public do not always reflect the actual situation."
Larry Swets, a financier serving as Greenland Energy's executive chair and a major shareholder, acknowledged earlier confusion. "Our enthusiasm for the project led us to communicate in a way that created confusion about who is responsible for what in Greenland, and that benefited no one, least of all the local communities closest to the project." When asked at the Ittoqqortoormiit meeting whether Swets had close ties to Trump, Price deflected, saying "not that I know of." Social media posts suggest Swets's wife visited Trump's Mar-a-Lago residence this year.
Greenland Energy shareholders trading tips on a Telegram group express hope for a presidential endorsement that could drive stock prices higher before any oil flows. They refer to such a boost as a potential "Trump pump." Whether Greenland's government will issue the drilling permits remains the critical question.
Author James Rodriguez: "Greenland Energy is betting Trump's expansionist ambitions will overcome environmental concerns and local resistance, but Nuuk's government so far is calling the company's bluff."
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