Trump Reopens Oil Drilling Alaska Arctic Wildlife Refuge [View all]
Source: Bloomberg
(Bloomberg) -- The Trump administration is opening the entire coastal plain of Alaska’s Arctic National Wildlife Refuge to oil and gas leasing, reversing a Biden administration decision that put the pristine wilderness area off limits.
Interior Secretary Doug Burgum said Thursday the agency was opening the 1.56 million acre of tundra on the state’s North Slope and holding a lease sale this winter in the nearby National Petroleum Reserve. It’s the latest move President Donald Trump’s administration to boost domestic fossil fuel production.
“This land should and will be supporting responsible oil and gas leasing,” Burgum said during an event at the Interior Department’s headquarters in Washington Thursday.
The refuge’s coastal plain is estimated to hold billions of barrels of crude. But many oil companies have been reluctant to target the area, given the high costs. Environmentalists and native Alaskans argue oil development in the region risks imperiling arctic foxes, polar bears and caribou.
Read more: https://finance.yahoo.com/news/trump-reopens-alaska-arctic-coastal-192734093.html
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