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Trump touts massive Greenland energy exploration and security benefits

President Donald Trump announced Wednesday that "massive" oil, gas and mineral exploration is expected to begin in Greenland. In a post on Truth Social, the president claimed that the amount of easily available oil in…

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NewsMV Markets Desk
3 min read
14 October 2026Markets desk
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President Donald Trump announced Wednesday that "massive" oil, gas and mineral exploration is expected to begin in Greenland. In a post on Truth Social, the president claimed that the amount of easily available oil in the region is far greater than almost any other land in the world. He argued that the island provides a security advantage for the defense and offense of both the United States and Europe that is second to none. Trump did not provide additional details regarding when or how the exploration activities would commence.

The announcement follows a new security agreement signed last month by the United States, Denmark and Greenland. This pact expands U.S. military access to the Arctic island, building upon extensive rights granted under a 1951 defense agreement. The new arrangement allows Washington to establish additional military facilities, subject to specific consultation and procedures outlined in the document. It also limits the ability of non-NATO countries to build military bases on the island and creates protections to prevent risky foreign investments in key areas such as natural resources and critical infrastructure.

Greenland's government has not issued new oil and gas exploration licenses since 2021, citing environmental and climate concerns. While some previously issued licenses remain valid, drilling requires additional government approvals. Although the island is believed to hold significant untapped oil and gas resources, commercially recoverable reserves have not been established. The new agreement did not grant U.S. sovereignty over Greenland, which remains a self-governing territory within the Kingdom of Denmark. Copenhagen retains authority over foreign, defense and security policy, while Greenland controls many domestic affairs, including mineral resources.

Fox News Digital reached out to the White House for comment on the announcement. The report was contributed by Morgan Phillips and Peter D'Abrosca.

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Filed via foxnews.com

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