Trump administration pushes to sell Alaska oil leases pre-Biden inauguration

[In It to Win It]

(Reuters) - The Trump Administration will take key steps to finalize a sale of oil drilling leases in the sensitive Arctic National Wildlife Refuge (ANWR) in Alaska just before Democrat Joseph Biden, who opposes drilling there, becomes president, a government spokeswoman said on Friday.

The White House will be sending out a call for nominations in coming days, according to a spokeswoman for the U.S. Bureau of Land Management in Anchorage, Alaska. The call is a request to energy companies on what specific land areas should be offered for sale.

That would start the clock on a 60-day period before sales could take place in ANWR, where drilling had been banned for decades before a Republican-led tax legislation signed in 2017 removed that ban. Biden opposes drilling in ANWR, while lawmakers in Alaska have long pushed to open up the ecologically sensitive area for oil and gas exploration.

https://www.reuters.com/article/us-usa-alaska-trump-oil/trump-administration-pushes-to-sell-alaska-oil-leases-pre-biden-inauguration-idUSKBN27T2U5

[mr_lebowski]

1. My Dog I hate the motherfucker with every fiber of my being ...

We need to let the energy companies that would bid on this know that there will HELL TO PAY if they drill in ANWR in NO UNCERTAIN TERMS.

[lapfog_1]

2. Pretty sure Biden can undo the sale and return the money

I don't think oil companies will be racing up there right now to drill for oil they can't sell.

[bluestarone]

3. I'm sure you're right

Cannot believe by stroke of a pen this is a done deal!

[Deuxcents]

4. IQ 45 is evil.

It wants a scorched earth. Gonna be a bumpy ride until he’s gone..

[modrepub]

5. Oil Is The Next Coal

They tried to deregulate the heck out of coal and it's still not helping. Coal fired power plants continue to shut down because they're NOT COST EFFECTIVE! Unless the coal is directly under the plant, you can't make any money burning it to produce electricity. Gas-fired combined cycle power plants and most renewables produce electricity cheaper. Simple economics.

Oil is quickly approaching that point. Go ahead and sell the leases. They may never actually be developed if the costs to extract the oil is more than it's worth. Banks are quickly starting to not lend to develop these multi-billion energy projects. It's more economical to develop wind farms. And lots of social justice folks are using their investment money to push renewables. Most of the large electric grid managers are seeing the future will be electric cars and are beginning to start planning to develop the support structure. If you want to stop fossil fuel burning, buy an electric car and support the large off-shore wind farms that are starting to work through the permitting and development stages. Invest your money (and your retirement funds) to support the green economy.

In the end, the market is going to make oil obsolete, probably much sooner than we think.

[Baked Potato]

6. The article says the banks are saying FU. Good sign.