Trump Announces “Massive” Greenland Oil Exploration Plans
“Massive” oil, gas, and minerals exploration will soon begin in Greenland, U.S. President Donald Trump said on Wednesday, claiming that the territory has enormous resources of readily available oil. Last month, the United States, Denmark, and Greenland signed an agreement to strengthen defense and s
Source: OilPrice.com
―
DW NOTE
Trump wants to drill Greenland while oil markets are already choking on a supply shock no one can solve. Brent is at $105 because tankers can't clear the Strait of Hormuz — not because the world needs more barrels. The IEA projects supply will fall 5.7 million barrels per day this year due to disruption, not depletion. Adding exploratory acreage in the Arctic doesn't fix a blockade in the Persian Gulf.