Greenland Energy CEO says diesel at USD 5 a gallon jumped 38% in a month

Reuters

Mar 19

Greenland Energy CEO says diesel at USD 5 a gallon jumped 38% in a month

In a recorded interview, Robert Price, CEO of Greenland Energy, said diesel prices at USD 5 per gallon represented a 38% spike in one month and could affect core inflation through higher transportation costs.
Price said remote regions, including Greenland and parts of the Caribbean, are heavily reliant on diesel and shipping, and he cited supply fragility tied to the Strait of Hormuz.
He said Greenland Energy plans to drill its first two wells by the end of the year based on an engineering report estimating up to 13 billion barrels of oil.
Price said peak production from the Greenland project could reach 1.5 to 2 million barrels per day and described the estimated resource value as more than USD 1 trillion at current prices.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pelican Acquisition Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001829126-26-002464), on March 18, 2026, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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