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In this undated photo, caribou from the Porcupine Caribou Herd migrate onto the coastal plain of the Arctic National Wildlife Refuge in northeast Alaska. The refuge takes up an area nearly the size of South Carolina in Alaska's northeast corner. More evidence of the ongoing downsizing of the oil industry. Arctic under severe threat, but… ....
JUNEAU, Alaska (AP) The U.S. government held its first-ever oil and gas lease sale Wednesday for Alaska’s Arctic National Wildlife Refuge, an event critics labeled as a bust with major oil companies staying on the sidelines and a state corporation emerging as the main bidder. The sale, held as scheduled after a judge Tuesday rejected requests by Indigenous and conservation groups to halt the event, garnered bids on half the 22 tracts that were listed as available in the refuge’s coastal plain. The U.S. Bureau of Land Management, which held the sale, said the bids were under review. ....
(Reuters) -The Trump administration on Wednesday found few takers at its sale of drilling leases in a pristine Arctic wildlife refuge, with an Alaska state agency emerging as the sole bidder for most of the acreage sold. The sale, which generated around $14.4 million in high bids, marked a rejection by the oil and gas industry of one of President Donald Trump's signature efforts to expand fossil fuel and mineral development in the United States and to Alaska officials' decades-long effort to open up drilling in the Arctic National Wildlife Refuge (ANWR). Proceeds were a far cry from the Congressional Budget Office estimate from 2019 of $1.8 billion in bids from two ANWR lease sales over a decade. ....
On Wednesday, while a mob of domestic terrorists stormed the U.S. Capitol, something else undemocratic was going on: the Trump administration was holding the first-ever sale for oil leases in the Arctic National Wildlife Refuge (ANWR). And, like the attempted coup, it was a complete failure one that’s likely to lead to permanent protections for the country’s last unspoiled wilderness. “Today’s sale reflects the brutal economic realities the oil and gas industry continues to face after the unprecedented events of 2020, coupled with ongoing regulatory uncertainty,” said Kara Moriarty, president and CEO of the Alaska Oil and Gas Association, an industry advocacy group, in an emailed statement. ....
The lease sales will not cover Republicans’ proposed tax cuts as promised. By Story at a glance In mid-November, the Trump administration launched the formal process of selling oil drilling leases in Alaska’s Arctic National Wildlife Refuge. Every major bank in the U.S. has ruled out financing oil and gas exploration in the Arctic. With few bids from oil companies, the state of Alaska was forced to lease the lands itself. It was a grand plan proposed by the Trump administration: auction off drilling rights in the coastal plain of the Arctic National Wildlife Refuge (ANWR), using the money from the leases to pay for proposed tax cuts for corporations. ....