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With 31,4 billion barrels of oil and vast reserves of critical minerals essential for the energy transition, Greenland has become the center of a geopolitical dispute that has even drawn in Donald Trump.
When Donald Trump expressed interest in buying Greenland, many reacted with disbelief. However, behind this unusual proposal lies a strategic backdrop: critical minerals, oil and gas hidden beneath the ice. Greenland, an autonomous territory of Denmark, is emerging as a key player in geopolitical disputes and the global energy transition.
The current scenario in Greenland
Since 2009, Greenland has had autonomy in various areas, but still depends on the Danish kingdom for defense and foreign policy issues. Its control over subsoil resources makes the territory highly strategic.
With the accelerated melting of ice due to global warming, Greenland has been revealing its natural riches. Studies indicate that around 3,9 trillion tons of ice were lost between 1992 and 2018, exposing previously inaccessible reserves of critical minerals, oil and gas.
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Energy reserves: Oil and gas under the ice
The Danish Geological Survey estimates that Greenland's west coast contains about 18 billion barrels of oil. US data suggests even more impressive numbers: 31,4 billion barrels of oil and 148 trillion cubic feet of natural gas.
Despite its enormous energy potential, Greenland decided in 2021 to stop issuing new licenses for oil and gas exploration. This decision reflects the country's pursuit of a more sustainable future and environmental preservation.
Critical Minerals: Key to the Energy Transition
The island is home to a vast amount of critical minerals, including lithium, nickel, cobalt, graphite and rare earth metals. These resources are essential for clean energy technologies such as batteries, wind turbines and electric vehicles.
Greenland is strategic to diversify supply of critical minerals and reduce dependence on China, which dominates the production and processing of many of these materials. This geopolitical context reinforces the US interest in establishing greater influence in the region.
Geopolitical and strategic interests
Located in the Arctic Circle, Greenland is a strategic point between the USA, Europe and Russia. In addition to its natural resources, its geographical position offers military and commercial advantages.
China has already expressed interest in financing mining projects in Greenland, causing concern in the US. Diversifying the supply chain is crucial to ensuring the economic and energy security of Western powers.
Is Greenland for sale?
Trump's purchase proposal has been firmly rejected by Denmark and Greenland. Local leaders have stressed that the territory is not for sale, especially at a time of growing desire for independence from Denmark.
Even if it were feasible, the purchase of Greenland would alter the global geopolitical balance. The implications go far beyond minerals and oil, touching on the sovereignty of a people and the relationship between nations.
Greenland is not just an isolated mass of ice in the Arctic, it is a territory rich in natural resources and strategically positioned. Trump's interest is a reflection of the growing importance of critical minerals in the energy transition and in geopolitical disputes. However, the issue goes beyond resources: it involves sovereignty, sustainability and the future of a territory that is crucial to the world.
