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Trump will auction drilling rights to Arctic National Wildlife Refuge
Juliet Eilperin and Steven Mufson, The Washington Post
Jan. 6, 2021
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The coastal plain of the Arctic National Wildlife Refuge, with the Brooks Range as a backdrop.U.S. Fish & Wildlife Service photo
WASHINGTON - Trump administration officials will auction off oil and gas leases in Alaska s Arctic National Wildlife Refuge on Wednesday, capping Republicans decades-long quest to drill in one of the nation s most vast unspoiled wild places. The move marks one of the most significant environmental rollbacks the president has accomplished in his term.
But with low oil prices and an increasing number of banks saying they would not finance Arctic energy projects, major oil companies did not try to buy the leases. That left the state agency, Alaska Industrial Development and Export Authority, as the main bidder. The agency put up all but two of the winning bids, which went to two small energy firm
Published: Wednesday, January 6, 2021
A federal judge last night cleared the way for the Trump administration s controversial lease sale in the coastal plain of Alaska s Arctic National Wildlife Refuge to move forward as planned today.
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Major Oil Companies Take A Pass On Controversial Lease Sale In Arctic Refuge By Tegan Hanlon, Nat Herz | APTI
Wednesday, January 6, 2021
Caribou graze on the coastal plain of the Arctic National Wildlife Refuge. The Trump administration has held the first oil lease sale in the refuge. / U.S. Fish and Wildlife Service
Updated at 7:54 pm ET
One of the Trump administration s biggest environmental rollbacks suffered a stunning setback Wednesday, as a decades-long push to drill for oil in Alaska s Arctic National Wildlife Refuge ended with a lease sale that attracted just three bidders one of which was the state of Alaska itself.
Paltry interest in Trump administration auction of drilling rights in Alaska refuge Print this article
The Trump administration’s long-awaited lease sale auctioning off drilling rights for oil and gas in the Arctic National Wildlife Refuge was such a dud that the state of Alaska stepped in as a bidder of last resort.
An economic development corporation owned by Alaska offered the high bid on all but two of the 11 leases, which generated a paltry total of $14 million.
The state agency, the Alaska Industrial Development and Export Authority, doesn’t plan to develop the leases immediately and instead bought them with the intent to hold on to the acres so it can partner with companies to do the actual drilling later on, when market conditions are more favorable.