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A Texas firm plans offshore oil drilling in Greenland next summer, exploiting a legal loophole despite a national fossil fuel ban.
A Texas company, Greenland Energy, plans to drill for oil onshore in Greenland next summer, bypassing a national ban on fossil fuel extraction.
Led by CEO Robert Price, the project targets a potentially large oil reserve using conventional vertical drilling, claiming minimal environmental impact.
The venture operates under a legal loophole and asserts independence from U.S. annexation efforts, though it occurs amid ongoing geopolitical interest in the Arctic.
Critics highlight risks including extreme weather, poor infrastructure, high costs, and low oil prices, calling the project high-risk despite its potential rewards.
Una firma de Texas planea perforar petróleo en Groenlandia el próximo verano, explotando un vacío legal a pesar de la prohibición nacional de combustibles fósiles.