Biden administration approves limited development of Alaska's Willow oil project

[orleans]

1. bloomberg...

Biden Backs $8 Billion Alaska Oil Project Despite Climate Peril

Willow project in Alaska posed key climate test for Biden
Activists said ConocoPhillips project risks climate peril

President Joe Biden authorized a giant ConocoPhillips oil project in northwest Alaska that environmentalists argue has no place in a warming world, even as he sought to bar future drilling across US Arctic waters and lands.

The approach represents Biden’s bid for a middle ground, as he seeks to accelerate the transition away from fossil fuels while bound by the legal decisions of past administrations. ConocoPhillips has held some leases underpinning its 600-million-barrel Willow oil development since 1999, and the project was already approved once under former President Donald Trump.

With the Interior Department’s new authorization, the company now will be permitted to drill from three locations across its Willow site in the National Petroleum Reserve-Alaska. ConocoPhillips, which originally sought to drill from five well pads at Willow, had said anything short of three would not be viable. But Biden’s conservation moves mean oil companies also will have far fewer opportunities to find and develop prospects north of the Arctic Circle.

The authorization represents one of the most significant climate decisions yet for Biden, who campaigned on a pledge to block new drilling on public lands and presided over sweeping government investments in clean energy. Yet he’s also implored oil companies to boost output to tame prices and address market disruptions spurred by Russia’s invasion of Ukraine. The Willow project created additional political challenges, as Biden faced intense pressure from unions and some indigenous groups in Alaska who argued the development would provide an economic lifeline to the region.

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https://www.bloomberg.com/news/articles/2023-03-13/biden-backs-giant-alaska-oil-project-despite-climate-peril?srnd=premium-europe&leadSource=uverify%20wall

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