Robert Price Thinks He s Sitting on a Vast Greenland Oil Prospect
Sandego.net – Robert Price thinks he s sitting on one of the world’s largest remaining untapped oil opportunities. The Texas oilman holds exclusive drilling rights in Jameson Land, eastern Greenland, where he believes there could be as much as 13 billion barrels of crude oil worth more than $1 trillion at current prices.
His company, Greenland Energy, faces a complicated path forward. The prospect lies in a remote Arctic region where winter conditions can restrict access, and any drilling program must clear Greenlandic regulatory requirements before exploration can begin.
Price argues that the area’s geology could make extraction less technically complex than Canadian oil sands, Brazil’s deepwater pre-salt fields or horizontal fracking in Texas’ Permian Basin. Still, a promising resource estimate is far from a producing oil field.
“Greenland is a beautiful, extraordinary place,” Price said. “And to tell the story, not only of Greenland, but of the Greenlandic people and what our potential discovery might be, is important to me.”
A Family History Connected to Greenland
For Price, the project also has a personal meaning. His father spent three years at a Greenland weather station during World War II, and Price has preserved 50 letters his father sent to his grandmother. Those letters described dogsled travel, skiing, fishing, seal meat and hunting in the Arctic.
That history came up during an interview with Phil McGraw, known as Dr. Phil. Price noticed a wartime image of his father in the studio and became emotional while discussing his father’s service in Greenland.
“My dad would be really proud,” Price said during the interview.
Price’s family has longstanding ties to the oil industry. His grandfather died in an oil-rig fire, his father grew up in Cushing, Oklahoma, and Price built a career securing land for major oil companies. Robert Price thinks he s sitting on a prospect unlike any he had previously encountered.
Dr. Phil Appearance Brings Political Backlash
The interview was meant to raise awareness of the venture, but it drew criticism in Greenland. Many Greenlanders were already concerned by President Donald Trump’s stated ambitions to control, annex or purchase Greenland. An American oil project promoted alongside a prominent Trump supporter intensified those concerns.
Price has said Greenland Energy is independent of the Trump administration and that its goal is to bring investment to Greenland, not advance a political agenda.
“This is about bringing capital to Greenland. It has nothing to do with the Trump administration,” Price said. “Politics will come and go, but our project will be there for a long period of time.”
The attention also focused on the company’s permits. Greenlandic regulators had issued certain permissions, but Greenland Energy had not received final approval to start drilling. About a month after the interview, regulators warned the company about its permits. Two months later, the company announced a change to its drilling schedule.
Price postponed additional work with Dr. Phil while Greenland Energy concentrated on relations and the regulatory process. The company has said it will proceed carefully, “one day and one step at a time.”
What a Greenland Oil Discovery Could Mean
Robert Price thinks he s sitting on a resource that could matter during a volatile period for global energy markets. War in the Middle East has coincided with a drawdown of 2 billion barrels in global crude inventories over seven months, bringing inventories to levels described as critical.
But discovery, development and production are separate stages. Arctic drilling requires years of planning, financing, approvals and solutions for transportation and seasonal access. Even a major discovery would not automatically lead to an operating field.
Greenland’s authorities would ultimately decide whether oil development aligns with the territory’s economic priorities, environmental concerns and political autonomy. Potential investment, jobs and tax revenue would have to be weighed against the long-term consequences of developing Arctic resources.
Greenland Oil Project FAQ
Has Greenland Energy been approved to begin drilling?
No. The company had received certain permissions, but it had not received final approval to begin drilling when regulators raised concerns about its permits.
Where is the proposed oil project located?
The project is in Jameson Land in eastern Greenland, a remote Arctic area where winter conditions can make access difficult.
How much oil could the area contain?
Price believes the area could contain up to 13 billion barrels of crude oil, although exploration and further approvals would be needed before the resource potential could be established.
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