Biden administration approves limited development of Alaska's Willow oil project [View all]
Source: Anchorage Daily News
The Biden administration on Monday approved a massive oil development project on Alaska’s North Slope, and said it is adding new environmental protections to limit future oil development in several areas of the National Petroleum Reserve-Alaska. ConocoPhillips’ $8 billion Willow prospect in the Indiana-size reserve is expected to be one of the largest oil fields developed in Alaska in decades. It would produce oil for three decades, including 180,000 barrels of oil daily at its peak.
The administration approved three drill sites, which ConocoPhillips has said is economically viable. The approval is a reduction of the five drill sites that ConocoPhillips had originally sought, though the company said Monday that it’s pleased with the approval. The White House’s decision bucked intense pressure from environmental groups, which have called the project a “carbon bomb” and said it contradicts President Joe Biden’s goal of cutting greenhouse gas emissions in half by 2030.
Many Alaska Native leaders, politicians and business groups have lobbied intensely for approval of the field, saying it would provide badly needed revenues to support North Slope villages and help Alaska’s struggling economy — though the mayor of the Inupiaq village closest to the project had opposed it.
ConocoPhillips said Monday it expects to immediately begin building gravel roads to launch development. The company is also reviewing the 124-page decision from the Interior Department and internally will take steps toward making a final investment decision in the project.
Read more: https://www.adn.com/business-economy/energy/2023/03/13/biden-administration-approves-limited-development-of-alaskas-willow-oil-project/
Article updated.
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ConocoPhillips' $8 billion Willow prospect in the National Petroleum Reserve-Alaska is expected to be one of the largest oil fields developed in Alaska in decades, and would produce oil for three decades, including 180,000 barrels of oil daily at its peak. The administration approved three drill sites, which the ConocoPhillips has said is economically viable.
The White House's decision bucked intense pressure from environmental groups, which have called the project a "carbon bomb" and said it contradicts President Joe Biden's goal of cutting greenhouse gas emissions in half by 2030.
Many Alaska Native leaders, politicians and business groups have lobbied intensely for approval of the massive oil field, saying it would provide badly needed revenues to support North Slope villages and help Alaska's struggling economy -- though the mayor the Inupiaq village closest to the project had opposed it.
Updated source.
Original article/headline/link -
CNN -- Breaking news:
The Biden administration has approved the massive Willow drilling project in Alaska, angering climate advocates and setting the stage for a court challenge.
This story will be updated.
https://www.cnn.com/2023/03/13/politics/willow-project-alaska-oil-biden-approval-climate/index.html
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