Science

US leases long-sought Alaska oil rights in Trump's final days

US leases long-sought Alaska oil rights in Trump's final days”

Even if it succeeds, continued oil leasing and drilling in the refuge will face headwinds, says U.S. Rep. Jared Huffman, D-Calif., a longtime drilling opponent.

Due to concerns about a lack of participation in the sale, the board of the Alaska Industrial Development and Export Authority held an emergency meeting two days before Christmas at which it authorized spending up to $20 million on ANWR leases.

Opening ANWR to drilling marks a win for Republican lawmakers in Alaska who have pushed for decades to open the area to oil and gas exploration to create jobs and boost state revenues, but it is unclear if the Biden administration will allow development to proceed. Though Biden has little power to revoke leases once they are issued, the incoming administration has wider discretion to block permits essential to mounting any activity on the tracts.

The state agency has said it plans to work with private companies on development of the refuge, which encompasses more than 19,000 million acres overall. With tracts ranging in size from 23,446 to 59,410 acres (9,488 to 24,042 hectares), the smallest possible winning bid is $586,150.

The sale is scheduled for January 6, but the Bureau of Land Management (BLM) started accepting bids at the end of last month.

Kate MacGregor, a deputy Interior Department secretary, said the sale marked, in part, the Trump administration's commitment to working "to fulfill the goal of US energy security for decades to come".

"We will continue to press our case that the agency approved the program unlawfully and that its decision should be overturned", Erik Grafe, an attorney with the left-wing group Earthjustice, said in a written statement.

After decades of controversy, the sale was finally authorised by the US Congress in 2017 as part of a major package of tax cuts.

More news: Watch `KGF Chapter Two` teaser: Yash and Sanjay Dutt lock horns

It is unclear whether the decision to make this acreage available will have a significant impact on Alaskan oil production, which peaked at two million barrels a day, 30 years ago. Alaska has said it hopes to partner with oil companies to develop the leases it won in the auction. Almost all of that came from Alaska's state-owned economic development corporation, the Alaska Industrial Development and Export Authority.

Other leases could yet be open to bids.

Three court cases related to the process are still pending with the Gwich'in Steering Committee and environmental groups.

Energy market analyst Doug Matthews lives in Yellowknife and has more than 30 years experience working with Canada's oil and gas sector including a former role with the N.W.T. government.

He says this week's "pathetic" sale numbers show a changing market. "Shell, ConocoPhillips, BP, Exxonmobil, they're all pulling back because the costs are too high, the time frames are too long", Matthews said.

"I'm an oil and gas man, but I'm not a stupid one", he said.

He doubts any drilling will happen in ANWR. The remaining leases didn't attract bids or were flogged to small energy firms. "There are ample other places in the world to go and find oil".



Like this

loading...
loading...

Latest


09 January 2021
Trump bans Alipay and seven other Chinese apps
The order also lists the lesser-known payment systems QQ Wallet, Tencent QQ , CamScanner , SHAREit , VMate , and WPS Office . However, a judge blocked the WeChat ban twice previous year , while a judge stopped Trump from banning TikTok in December .

09 January 2021
Woman reportedly fatally mauled by shark in New Zealand
It comes less than two days after Kaelah Marlow died after being attacked by a shark at Waihī Beach. A small group gather on Waihī Beach following a fatal shark attack on Thursday.

09 January 2021
Mercedes-Benz reveals full-width (1 410 mm!) MBUX Hyperscreen
The system can also load up to seven different driver profiles, so you can customize how you'd like the interface to appear. Mercedes-Benz says there's no need to worry as the glass itself is rendered at temperatures of 650 degrees Celsius.

09 January 2021
Unemployment Claims at 787K Last Week
But in a high-pressure labor market, those employees quickly find jobs and many never show up on the employment rolls. It was a sharp decline from the prior week as various states, including Florida, didn't report any PUA claims.

09 January 2021
IPhone 12 Costs $431 to Make, 26% More Expensive than iPhone 11
Apple also is said to have adopted a new battery board that is reportedly 40-50% cheaper than the equivalent iPhone 11 part. Apple also diversified its supply sources to save costs and split memory orders between industry leaders, as per the report.

09 January 2021
United States police officer dies following clash with pro-Trump mob
About 90 minutes later, police said demonstrators got into the building and the doors to the House and Senate were being locked. Sicknick returned to his division office and collapsed, the report said .

09 January 2021
Koeman thrilled with Messi, Pedri partnership against Bilbao
The Dutchman also praised Messi , who produced arguably his best performance of the season and was unlucky not to grab a hat trick.

09 January 2021
Roy Keane: Manchester United can snatch Premier League crown from 'sloppy' Liverpool
As things stand, City have tasted victory in 16 games since their winning run started, outscoring opponents 50-13 in 21 matches overall.

09 January 2021
Vancouver schools announces plan for return to in-person schooling
The continuation of in-person tutoring and Saturday School programs at the secondary level will be determined by each school. Please do not send your students to school tomorrow (1-8-2021), it will be a virtual day.

09 January 2021
New Zealand's rise to top began with calamity in South Africa
With New Zealand in trouble, Williamson was all patience as he took 70 deliveries to reach 20, but he then put the foot down. The Blackcaps, with 118 points, are 2 points ahead of Australia and 4 points ahead of India, who are at third place.