Trump to Rush Drilling Leases in Arctic Before Biden Takes Over

[sabra]

Source: Bloomberg

The Trump administration is advancing plans to auction drilling rights in the U.S. Arctic National Wildlife Refuge before the inauguration of President-elect Joe Biden, who has vowed to block oil exploration in the rugged Alaska wilderness.

The Interior Department is set to issue a formal “call for nominations” as soon as Monday, kick-starting a final effort to get input on what tracts to auction inside the refuge’s 1.56-million-acre coastal plain. The plans were described by two people familiar with the matter who asked not to be named detailing administration strategy.

Biden has pledged to permanently protect the refuge, saying drilling there would be a “big disaster.” But those efforts could be complicated if the Trump administration sells drilling rights first. Formally issued oil and gas leases on federal land are government contracts that can’t be easily yanked.

The U.S. Geological Survey has estimated the refuge’s coastal plain might hold between 4.3 billion and 11.8 billion barrels of technically recoverable crude. Yet it’s unclear how many oil companies would have the appetite to mount costly operations in the remote Arctic wilderness amid low crude prices, steep public opposition, and regulatory uncertainty. Major U.S. banks have sworn off financing Arctic drilling projects, and conservationists are also pressuring oil executives to rule out work in the region.

Read more: https://www.bloomberg.com/news/articles/2020-11-13/trump-to-rush-drilling-leases-in-arctic-before-biden-takes-over?utm_campaign=socialflow-organic&utm_content=business&utm_medium=social&utm_source=twitter&cmpid=socialflow-twitter-business

[catbyte]

1. Vile, evil monsters. So much destruction to wreak, so little time.

[bullimiami]

2. anyone foolish enough bid on some lame ducks attempt to plunder our resources should lose it all.

[Eliot Rosewater]

3. Makes sense, he personally doesnt know what this is, at all. Where it is, at all.

Thinks the "interior dept" is where they get the drapes for the WH private residence.

But a righty told him this would piss off decent people and make some folks rich, so he of course did it.

GOP are scum, all of you. ALL of you

[Yo_Mama_Been_Loggin]

4. Trying to get everything he can before he leaves

They should makes them run through a metal detector and an airport scanner before they leave the Whitehouse.

In addition a complete inventory should be done after they're gone.

[33taw]

5. Every government contract has an escaped clause.

[OnlinePoker]

6. He is going to burn the country down before he's forced out and leave nothing for Biden to work with

Firings, destruction of documents, lack of any transition. Then when the shit hits the fan, Biden will take the blame from the MAGAts.

[sinkingfeeling]

7. He and his humpers want to destroy everything.

[drray23]

8. that wont go anywhere.

no company is going to invest millions for leases that could be overturned 2 months later.

[bluestarone]

9. I believe your right BUT

I also hope your right! I cannot believe that just because RUMP passes a law means it's final!

[drray23]

10. he did not pass any law.

this would require congress. its an action by the trump administration which can and will be reversed.

[droidamus2]

11. Question is...

Can Biden shut it down again as soon as he is inaugurated even if the auction has already occurred. Fat Donnie doesn't seem to understand that executive orders are not permanent changes if subsequent Presidents don't support them.

[Bayard]

12. The drilling apparatus would certainly not show up until long after January 20

Give them their money back, and tell them to get off OUR land!

[machoneman]

13. Hey, Army training grounds: C-In-C orders them to open fire. Blackhawks with TOW missiles!

M1A3 Abrams tanks using drilling rigs for target practice. Go Army!

[DeminPennswoods]

14. All federal govt contracts have termination clauses

FTR