American Oilman Pitches 2 Greenland Wells for 13 Billion Barrels, Sparking Showdown
Updated
Updated · The New York Times · Aug 13
American Oilman Pitches 2 Greenland Wells for 13 Billion Barrels, Sparking Showdown
1 articles · Updated · The New York Times · Aug 13
Summary
Ittoqqortoormiit became the latest flashpoint in Greenland’s resource debate after a U.S. oilman proposed drilling two exploratory wells near an area he said could hold up to 13 billion barrels.
The pitch promised jobs, tax revenue and potential relief for global energy markets if oil were found, framing the project as a major economic opportunity for the remote Arctic territory.
Greenlanders at the June meeting challenged the terms and risks, asking why Greenland would receive only 15% of profits and pressing for details on chemicals and impacts on musk ox hunting.
Video from the meeting showed many attendees leaving unhappy, turning the proposal into a broader political and social showdown over whether Greenland should pursue offshore oil exploration.