Trump to Rush Drilling Leases in Arctic Before Biden Takes Over
Source: Bloomberg
The Trump administration is advancing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of President-elect Joe Biden, who has vowed to block oil exploration in the rugged Alaska wilderness.
The Interior Department is set to issue a formal call for nominations as soon as Monday, kick-starting a final effort to get input on what tracts to auction inside the refuges 1.56-million-acre coastal plain. The plans were described by two people familiar with the matter who asked not to be named detailing administration strategy.
Biden has pledged to permanently protect the refuge, saying drilling there would be a big disaster. But those efforts could be complicated if the Trump administration sells drilling rights first. Formally issued oil and gas leases on federal land are government contracts that cant be easily yanked.
The U.S. Geological Survey has estimated the refuges coastal plain might hold between 4.3 billion and 11.8 billion barrels of technically recoverable crude. Yet its unclear how many oil companies would have the appetite to mount costly operations in the remote Arctic wilderness amid low crude prices, steep public opposition, and regulatory uncertainty. Major U.S. banks have sworn off financing Arctic drilling projects, and conservationists are also pressuring oil executives to rule out work in the region.
Read more: https://www.bloomberg.com/news/articles/2020-11-13/trump-to-rush-drilling-leases-in-arctic-before-biden-takes-over?utm_campaign=socialflow-organic&utm_content=business&utm_medium=social&utm_source=twitter&cmpid=socialflow-twitter-business
catbyte
(34,504 posts)bullimiami
(13,110 posts)Eliot Rosewater
(31,131 posts)Thinks the "interior dept" is where they get the drapes for the WH private residence.
But a righty told him this would piss off decent people and make some folks rich, so he of course did it.
GOP are scum, all of you. ALL of you
Yo_Mama_Been_Loggin
(108,367 posts)They should makes them run through a metal detector and an airport scanner before they leave the Whitehouse.
In addition a complete inventory should be done after they're gone.
33taw
(2,448 posts)OnlinePoker
(5,729 posts)Firings, destruction of documents, lack of any transition. Then when the shit hits the fan, Biden will take the blame from the MAGAts.
sinkingfeeling
(51,485 posts)drray23
(7,638 posts)no company is going to invest millions for leases that could be overturned 2 months later.
bluestarone
(17,101 posts)I also hope your right! I cannot believe that just because RUMP passes a law means it's final!
drray23
(7,638 posts)this would require congress. its an action by the trump administration which can and will be reversed.
droidamus2
(1,699 posts)Can Biden shut it down again as soon as he is inaugurated even if the auction has already occurred. Fat Donnie doesn't seem to understand that executive orders are not permanent changes if subsequent Presidents don't support them.
Bayard
(22,196 posts)Give them their money back, and tell them to get off OUR land!
machoneman
(4,016 posts)M1A3 Abrams tanks using drilling rigs for target practice. Go Army!
DeminPennswoods
(15,292 posts)FTR