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Trump's Second Term

Greenland issues ‘strong warning’ as Trump-linked oil firm prepares to drill.

Island’s government says no approval given after Greenland Energy brings kit ashore for exploratory drilling.

An American oil company connected to Donald Trump is preparing to sink wells in remote Greenland despite not having received permission from the local authorities...

That has prompted Greenland’s government to issue a “strong warning” that no approval had been granted to land the kit. “All future logistical matters must be advised and approved by the mineral resources authority – before they are carried out,” the government said in a statement.

Two days later, Trump made his latest menacing post on Truth Social, showing himself looming over a Greenlandic village...

Executives of Greenland Energy, a Texas company set up last year, have claimed that $1tn of crude may lie beneath the Jameson Land region. They announced plans to spend $60m drilling two wells to find out...

Greenland Energy has retained Phil McGraw, better known as Dr Phil, a prominent rightwing former chatshow host who served on Trump’s religious freedom commission, to make a documentary series that will “capture the mission of these modern-day wildcatters”...

A Greenland Energy representative has said a vessel carrying its 300 shipping containers of drilling equipment is to set sail from Canada on 12 September. Sinking the wells would begin in October.

Jeff Landry, the hard-right Louisiana governor serving as Trump’s Greenland envoy, has said Greenland could be pumping oil next year.

 
Greenland issues ‘strong warning’ as Trump-linked oil firm prepares to drill.

Island’s government says no approval given after Greenland Energy brings kit ashore for exploratory drilling.

An American oil company connected to Donald Trump is preparing to sink wells in remote Greenland despite not having received permission from the local authorities...

That has prompted Greenland’s government to issue a “strong warning” that no approval had been granted to land the kit. “All future logistical matters must be advised and approved by the mineral resources authority – before they are carried out,” the government said in a statement.

Two days later, Trump made his latest menacing post on Truth Social, showing himself looming over a Greenlandic village...

Executives of Greenland Energy, a Texas company set up last year, have claimed that $1tn of crude may lie beneath the Jameson Land region. They announced plans to spend $60m drilling two wells to find out...

Greenland Energy has retained Phil McGraw, better known as Dr Phil, a prominent rightwing former chatshow host who served on Trump’s religious freedom commission, to make a documentary series that will “capture the mission of these modern-day wildcatters”...

A Greenland Energy representative has said a vessel carrying its 300 shipping containers of drilling equipment is to set sail from Canada on 12 September. Sinking the wells would begin in October.

Jeff Landry, the hard-right Louisiana governor serving as Trump’s Greenland envoy, has said Greenland could be pumping oil next year.

Uh oh, they better beware of the sternly worded letter. Weird, Dr. Phil schilling a Texas-based Greenland oil company, feels like a dream I had.
 
Executives of Greenland Energy, a Texas company set up last year, have claimed that $1tn of crude may lie beneath the Jameson Land region. They announced plans to spend $60m drilling two wells to find out...

Someone who needs supply and demand explained to them.
The oil under the Jameson Land region is worth $1 trillion because it's under there, inaccessible to anyone. Start pumping it out, increasing the supply, and the value will decrease correspondingly.
It's like a science fiction movie I saw decades ago, which had aliens prove they're friendly by turning the Statue of Liberty into gold. The writers didn't realize that would send the value of gold through the floor (and the statue would collapse from the increased weight and weakened structure, which also didn't happen).
 
So how can oil flow have quadrupled from maximum possible capacity in December then?
The US easing their export sanctions, so that they themselves would profit, had a great deal to do with it.
Especially when no competent drilling company will go near Venezuela.
Again, lifting US sanctions and giving preference and support to US companies is where the money is coming from.
The regime is lying and Bloomber has done their usual report tge lie but don't investigate it routine.
Always fact check and use difference sources, e.g., oil price.com
 
Someone who needs supply and demand explained to them.
The oil under the Jameson Land region is worth $1 trillion because it's under there, inaccessible to anyone. Start pumping it out, increasing the supply, and the value will decrease correspondingly.
It's like a science fiction movie I saw decades ago, which had aliens prove they're friendly by turning the Statue of Liberty into gold. The writers didn't realize that would send the value of gold through the floor (and the statue would collapse from the increased weight and weakened structure, which also didn't happen).
And of course, we need to remind ourselves that Greenland’s oil is only a potential.
Speculation is that it is similar geologically to the North Sea structure, but considering that the 10 or so wells drilled there so far have come up dry as well as 2/3rds of wells drilled in the North Sea being dry holes, any exploration could be very expensive failures.

Even if successful, it is likely that the extraction and transportation from Greenland, just due to the weather and other environmental challenges, may be so expensive as to be prohibitive, or at least have a high impact on profit.

Also, the potential reserves are relatively small, in comparison to the rest of the world.
Yes, with government support (i.e., US not Dane/Greenlander), some returns can be guaranteed to oil companies, but getting past Greenland bans on oil&gas exploration might be past even a belligerent US support.

I can’t see it happening, purely on logistical obstacles.
 
And of course, we need to remind ourselves that Greenland’s oil is only a potential.
Speculation is that it is similar geologically to the North Sea structure, but considering that the 10 or so wells drilled there so far have come up dry as well as 2/3rds of wells drilled in the North Sea being dry holes, any exploration could be very expensive failures.

Even if successful, it is likely that the extraction and transportation from Greenland, just due to the weather and other environmental challenges, may be so expensive as to be prohibitive, or at least have a high impact on profit.

Also, the potential reserves are relatively small, in comparison to the rest of the world.
Yes, with government support (i.e., US not Dane/Greenlander), some returns can be guaranteed to oil companies, but getting past Greenland bans on oil&gas exploration might be past even a belligerent US support.

I can’t see it happening, purely on logistical obstacles.
Oh, but let them try! I mean, other than environmentally, these imbeciles losing many billions of dollars on dry holes is bad, how?
 
Is there any way you can be more tone deaf to the country and your supporters about the economy?

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