Biden Administration to Suspend Oil Leases in Arctic Refuge--6th Update
02 June 2021 - 7:05AM
Dow Jones News
By Timothy Puko
WASHINGTON -- The Biden administration suspended oil leases in
the Arctic National Wildlife Refuge in Alaska, the latest move in
its effort to block plans to begin the first-ever drilling program
in the pristine 19-million-acre wilderness.
The Interior Department said on Tuesday the program will be on
hold until it completes a "comprehensive analysis" under the
National Environmental Policy Act.
A review, ordered by President Biden on his first day in office,
identified what it said were defects in the Trump administration's
final decision to approve new oil leases in the refuge, according
to the Interior Department, which added a more thorough analysis
could lead to the leases being voided altogether.
The department said the approval didn't properly analyze "a
reasonable range" of alternatives for allowing and managing oil
development while mitigating environmental harm.
The decision was reported earlier by Politico.
The refuge -- a remote corner of northeast Alaska that is about
the size of South Carolina -- is home to polar bears and caribou
herds. It has been off limits to drillers, miners and other
developers for decades. Mr. Biden has sided with environmentalists
who say the area should remain pristine, protected wilderness.
However. Congress passed a mandate to lease oil rights in the
coastal plain of the refuge in its tax overhaul in 2017, when both
the House and Senate were in Republican control.
Former President Donald Trump's administration finished the
first lease sale just days before Mr. Trump left office,
potentially locking in those drilling rights even though no major
oil companies were among the bidders.
Tuesday's decision follows a series of court arguments this
spring in which the Biden administration supported oil and mining
projects on federal land. That angered environmentalists who
supported Mr. Biden's campaign. But it mproved his standing with
some lawmakers in Western oil-producing states, whose support Mr.
Biden will need to get his nominees and initiatives through
Congress.
Among the projects supported by the Biden administration were
ConocoPhillips' Willow oil project in Alaska; the Resolution Copper
Mining project in Arizona by Rio Tinto PLC and BHP Billiton Ltd.;
and the Dakota Access Pipeline by Energy Transfer LP.
Write to Timothy Puko at tim.puko@wsj.com
(END) Dow Jones Newswires
June 01, 2021 17:01 ET (21:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Rio Tinto (ASX:RIOCD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Rio Tinto (ASX:RIOCD)
Historical Stock Chart
From Apr 2023 to Apr 2024
