The Week (US)

Oil: U.S. suspends Alaska drilling leases

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The Biden administra­tion this week suspended oil and gas leases in Alaska’s Arctic National Wildlife Refuge issued just before President Trump left office, said Adam Federman in Politico.com. Though Republican­s and the oil industry campaigned for years to open up ANWR for drilling, when the Trump administra­tion offered leases in January, “the sale flopped and generated only $14.4 million in revenue and bids from only three players, none of which were major oil and gas operators.” Most of the leases went to a state-owned corporatio­n, which bid the minimum $25 an acre. The Biden administra­tion disappoint­ing environmen­tal groups, however, by lending support last week to a ConocoPhil­lips project to the west of the ANWR.

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