Dr. Phil will explore risky race to tap billions in Greenland oil

(NewsNation) — Dr. Phil is joining modern-day oil prospectors looking to tap into Greenland’s oil-dense peninsula.

Oil companies have long tried and failed to strike liquid gold in the Arctic nation. Today, only one company, Greenland Energy Company, has onshore drilling rights, and it happens to be American.

Dr. Phil McGraw is hosting “Arctic Wildcatters,” a six-part docuseries in this far-flung tundra that could hold the key to a new global energy order, where Greenland Energy Company will embark on the island’s first modern onshore oil exploration.

McGraw will travel to Greenland to film the series, slated to premiere late summer on McGraw’s Envoy TV. He joined “Elizabeth Vargas Reports” on Tuesday to discuss the forthcoming venture.

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“My first trip will be in July, the warmest part, and it is going to get cold from there. But as you said, there’s a potential 13 billion barrels of oil there,” McGraw said.

McGraw said he crossed Robert Price and Larry Swets, the CEO and chairman, respectively, of Greenland Energy Company, in Texas which was the genesis for the show. Greenland Energy Co. is not backed by major oil companies.

“If this hits the way they believe it will, and I think they’re really on to something here, this will change Greenland and the lives of the people there forever,” McGraw told NewsNation.

“It’ll change the world. You’re talking about a lot of oil here, a lot of natural gas here, and this will change the lives of these people, I think, in a very positive way forever.

“This will become a bonanza for these folks and a bonanza for Greenland, of course, but a lot of this oil will go to Europe, and it’ll decompress the leverage that people controlling, like, the Strait of Hormuz, for example. This decompresses the Europe market as well as the U.S.”

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