Greenland Energy CEO Warns of Structural Oil Supply Risks in Global Markets
March 13th, 2026 7:15 PM
By: Newsworthy Staff
Greenland Energy's incoming CEO Robert Price cautions that global energy markets are underestimating structural risks to oil supply due to geopolitical chokepoints and declining investment in conventional production, emphasizing the importance of frontier exploration like Greenland's Jameson Land Basin for long-term energy security.

In an exclusive interview with Benzinga, Greenland Energy's incoming CEO Robert Price warned that global energy markets may be underestimating structural risks to oil supply, citing geopolitical chokepoints such as the Strait of Hormuz and declining long-term investment in conventional production. Price emphasized 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, arguing that long-cycle conventional resources will remain essential to maintaining global energy security.
The Jameson Land Basin project represents a significant frontier exploration effort, with March GL Company funding 100% of the costs associated with up to two exploration wells designed to delineate the sedimentary structure and energy potential of the basin. According to the agreement, March GL will earn through 80 Mile's subsidiary company up to 70% interest in the entire basin and will be appointed as the Field Operations Manager. This strategic partnership highlights the substantial investment required for frontier exploration projects that Price argues are necessary to address long-term supply concerns.
Price's comments come at a time when global energy markets face increasing uncertainty from geopolitical tensions and shifting investment patterns. The Strait of Hormuz, through which approximately 20% of global oil consumption passes, represents a critical vulnerability in global supply chains. Simultaneously, declining investment in conventional oil production over the past decade has created what Price describes as structural risks that could manifest as supply shortages in coming years. These concerns are particularly relevant for Greenland Energy, which focuses on developing strategic positions in North American energy assets through partnerships aimed at delivering long-term shareholder value.
The broader context involves Pelican Acquisition Corporation, which has partnered with Greenland Energy. 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 company's newsroom provides updates relating to PELI at https://ibn.fm/PELI. Price's warning about structural supply risks carries implications for investment strategies in the energy sector, particularly as companies balance short-term market pressures against long-term energy security needs.
Forward-looking statements in the industry acknowledge various factors beyond management's control, including risks discussed in company filings with the SEC. The full terms of use and disclaimers applicable to all content provided by IBN are available at http://IBN.fm/Disclaimer. Price's perspective suggests that despite these uncertainties, frontier exploration in regions like Greenland represents a necessary component of global energy strategy, particularly as traditional production regions face geopolitical and investment challenges that could constrain future supply.
Source Statement
This news article relied primarily on a press release disributed by NewMediaWire. You can read the source press release here,
