Congress-Mandated Lease Sale in Arctic National Wildlife Refuge Fails to Attract Bids
The Interior Department announced that a lease sale in Alaska’s Arctic National Wildlife Refuge, mandated by Congress, did not receive any bids. This failure to attract bids supports President Biden’s stance that drilling for oil and gas in the ANWR is not a viable business idea.
Laura Daniel-David, acting interior secretary, stated that the lack of interest from oil companies in developing the Arctic National Wildlife Refuge reaffirms that some places are too special to risk with drilling. She pointed out that the oil and gas industry has numerous undeveloped leases elsewhere that would be a more prudent place to start.
The debate over drilling in the Arctic National Wildlife Refuge has been a contentious issue during the Biden administration. While Alaska has expressed intentions to sue the federal government for limiting the lease sale to the minimum acreage, the state argues that this decision violates Congress’ call for oil and gas leasing and development on the Coastal Plain.
Alaska’s Department of Law also raised concerns that the new restrictions on surface use and occupancy make development economically and practically unrealistic. The oil industry’s disinterest in ANWR, coupled with legal challenges from Alaska, highlights the complexities surrounding oil and gas development in the region.
By Charles Kennedy for Oilprice.com
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