Biden team reportedly will cancel Alaska reserve’s oil-drilling leases

by user

[ad_1]

The Biden administration on Wednesday will announce the cancellation of controversial oil and natural-gas leases in an Alaska federal wildlife refuge that were bought by a state development agency in 2021, according to sources briefed on the matter, Reuters and other news outlets reported Wednesday.

The Trump administration had granted the Alaska Industrial Development and Export Authority the rights to drill in the Arctic National Wildlife Refuge, a largely pristine area home to a number of species and to land considered sacred by the Gwich’in tribe. 

Related: Biden administration freezes Alaska oil drilling leases that were among Trump’s parting moves

The approval of seven leases came through a day before the 2021 inauguration of President Joe Biden, who had pledged to protect the 19.6-million-acre wildlife habitat.

In June 2021, the Biden administration said it would suspend the leases issued in ANWR pending an environmental review. The state agency sued, but a federal judge last month dismissed that claim, saying the government’s delay in implementing the ANWR leasing program for review was reasonable.

For decades, some officials in Alaska, whose economy is fortified by fossil-fuel drilling, have fought for new leases in ANWR. But the oil and gas sector
CL00,
+1.06%
,
in part due to regulatory uncertainty and the expense of necessary infrastructure, put up a lukewarm response to the 2021 lease sale, and two entities that participated and won leases at the ANWR sale withdrew from their holdings in 2022.

The Natural Resources Defense Council and other environmental policy groups responded favorably to news of Wednesday’s lease-program withdrawal.

“Public lands are a public trust. They must be part of the climate solution — not the problem,” Manish Bapna, president and CEO of NRDC, said in a statement.

Separately, earlier this year, the Biden administration approved ConocoPhillips’
COP,
+0.20%

large-scale Willow drilling project on Alaska’s oil-rich North Slope.

That permission, although it came with conditions and moved along an approval process that was already well under way, was considered one of Biden’s most consequential climate choices to date.

This summer marked the one-year anniversary of a major climate spending bill, the Inflation Reduction Act, which largely promotes tax incentives to switch to alternative energy sources for use in vehicles
TSLA,
-1.78%

and homes instead of traditional fossil fuels
RB00,
+1.96%
.

Read: Climate winners and losers as the Inflation Reduction Act hits 1-year anniversary

Republicans, for their part, want to promote a different energy plan ahead of their challenge of Biden and the Democrats in the 2024 election. The GOP is pushing greater U.S. energy independence, which includes new drilling for domestic oil and natural gas alongside private-sector growth of wind, solar, nuclear and hydrogen power sources.

[ad_2]

Source link

Related Posts

Leave a Review

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy