Greenland Energy CEO Warns of Structural Oil Supply Risks in Benzinga Interview

In an exclusive interview with Benzinga, Greenland Energy's incoming CEO Robert Price stated that global energy markets may be underestimating structural risks to oil supply. Price emphasized geopolitical chokepoints such as the Strait of Hormuz and declining long-term investment in conventional production as key concerns. He argued that frontier exploration efforts, including the company's work in Greenland's Jameson Land Basin, are aimed at addressing future supply constraints rather than short-term price movements.

Price maintained that long-cycle conventional resources will remain essential to maintaining global energy security. The interview highlighted that Greenland Energy, through its partnerships, is focused on developing strategic positions in North American energy assets. The company's approach involves addressing what it perceives as a critical gap in future energy planning by investing in exploration that anticipates supply shocks rather than reacting to current market conditions.

The Jameson Land Basin project involves collaboration with March GL Company, a privately-owned Texas Corporation that entered into an agreement with 80 Mile for drilling operations. According to available information, March GL will fund 100% of the costs associated with up to two exploration wells designed to delineate the sedimentary structure and energy potential of the Jameson Land Basin. More information about March GL Company is available on its website at https://www.MarchGL.com.

Price's comments come as Greenland Energy's partner, Pelican Acquisition Corporation (NASDAQ: PELI), continues its business operations. Pelican Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The latest news and updates relating to PELI are available in the company's newsroom at http://ibn.fm/PELI.

The broader context of Price's warning involves what he describes as systemic underinvestment in conventional oil production globally. This perspective suggests that current energy transition efforts, while important, may not adequately account for the continued need for conventional energy sources during the transition period. The interview with Benzinga, titled "EXCLUSIVE: We're Not Drilling For $60 Oil — We're Drilling For Next Supply Shock, Energy CEO Says" by Surbhi Jain, provides detailed insights into this position. To view the full article, visit https://ibn.fm/vyGU3.

Greenland Energy's strategic focus appears to be on positioning itself to address what it identifies as future supply constraints. The company's activities in Greenland represent part of a broader effort to explore frontier regions that could contribute to global energy security. This approach reflects a belief that despite increasing investment in renewable energy, conventional oil resources will continue to play a crucial role in the global energy mix for the foreseeable future.