The Biden administration on Tuesday suspended oil and gas leases in Alaska s Arctic National Wildlife Refuge, reversing a drilling program approved by the Trump administration and reviving a political fight over a remote region that is home to polar bears and other wildlife and a rich reserve of oil.
Biden administration halts oil exploration in Alaska s Arctic refuge
By: DW
Washington: US President Joe Biden s administration announced that it would suspend oil and gas leases in Alaska s Arctic National Wildlife Refuge, reversing a drilling programme approved by former President Donald Trump.
The remote region, known as ANWR, is home to polar bears, caribou, and other vulnerable wildlife, including migrating birds from six continents. It is also rich in oil reserves making it a long-contested quest of the oil industry.
The Interior Department said it was notifying the leaseholders of the freeze in petroleum development activity, pending a comprehensive environmental review.
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"It s not about avoidance but rather portfolio construction based on an individual s investment goals or situation," Bill Herrmann, Co-Founder and Managing Partner at Wilshire Phoenix in New York
Gwich'in leaders are calling the suspension of oil leases in Alaska's Arctic National Wildlife Refuge (ANWR) good news but say they're still fighting for permanent protection of the area.