Who Will Hold The Keys To The Arctic?

Good morning! Here is the latest in trending:

Taking control: Venezuela will give up to 50M barrels of oil to the U.S. and exports to China might be redirected.

Legalities: The Supreme Court may soon decide the fate of Trump’s tariffs after scheduling Friday as an opinion day.

Pay package: Berkshire Hathaway (BRK.B) raises new CEO Greg Abel’s salary and he’s making more than Warren Buffett.

A struggle for influence is taking place in the Arctic, with tensions flaring over control of the icy tundra. Alarm has grown in Europe as President Trump makes more advances for the world’s biggest island, which might include “utilizing the U.S. military.” Denmark, which controls the critical landmass, just signed a statement with the European leaders to respect territorial integrity, adding that an attack would mean the end of NATO. Instead, it’s hoping the Trump administration will warm to the idea of more troops and better mining rights, but that option is looking increasingly less likely.

Long history: Several U.S. overtures for Greenland were made over the years, including in 1867, following the purchase of Alaska from the Russians, and in 1946, when America offered $100M in gold for the island. It followed Denmark asking the U.S. to defend the territory in 1941 after the Germans occupied their country, resulting in Greenland serving as a base for U.S. fighters and bombers, and later during the Cold War for early missile warning systems. Until today, it’s American power that mainly provides operational security control, which is now being leveraged into the conversation.

“It is so strategic. We need Greenland from the standpoint of national security. And the European Union needs us to have it, and they know that,” President Trump said aboard Air Force One earlier this week. “Right now, it is covered in Russian and Chinese ships all over the place, and Denmark isn’t going to be able to do it.” Greenland’s waters also represent a key naval chokepoint between the Arctic and Atlantic that is crucial to influence in the Western Hemisphere, especially as Trump expands the so-called emerging “Donroe Doctrine.”

Economic angle: Greenland’s entire coastline is said to hold one of the world’s greatest collections of mineral resources, including base and precious metals, industrial rocks, and rare earths. Nearly all of these deposits remain untapped, and sourcing these elements from Greenland could help reduce U.S. dependency on China. Roads, infrastructure, and significant funding for exploration will be needed to access them, as well as additional opportunities for natural gas and fish stocks that are migrating further north. New shipping routes are also opening in the Arctic as ice continues to melt away, and those controlling those lanes will surely benefit from trading opportunities. (28 comments)

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