• 5 minutes Global Economy-Bad Days Are coming
  • 8 minutes IT IS FINISHED. OPEC Victorious
  • 14 minutes Venezuela continues to sink in misery
  • 17 minutes Could Tesla Buy GM?
  • 4 hours OPEC Cuts Deep to Save Cartel
  • 3 hours Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 4 hours Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 16 hours Price Decline in Chinese Solar Panels
  • 12 mins How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 7 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 24 mins Sleeping Hydrocarbon Giant
  • 2 hours What will the future hold for nations dependent on high oil prices.
  • 5 hours And the War on LNG is Now On
  • 26 mins USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 3 hours Air-to-Fuels Energy and Cost Calculation
  • 17 hours Rigs Down
Oil Majors Cautious But Upbeat About 2019

Oil Majors Cautious But Upbeat About 2019

Oil majors ConocoPhilips and Hess…

The Conference That Overshadowed OPEC

The Conference That Overshadowed OPEC

OPEC has been grabbing all…

U.S. To Open Drilling In Previously Protected Zones

Arctic

The U.S. Department of interior is set to replace the Obama administration’s five-year oil and gas leasing plan on key bodies of water with federal government jurisdiction, the Oil and Gas investor said.

The new plan will open up waters in the Arctic, Atlantic, and Pacific Oceans to expand domestic production despite the objections of environmentalists, state regulators, and coastal business interests.

Interior Secretary Ryan Zinke is expected to announce the new plan Thursday afternoon, according to a departmental press release, which comes nine months after Trump issued an executive order prioritizing “energy exploration and production... in order to maintain the nation's position as a global energy leader and foster energy security and resilience for the benefit of the American people.”

Frank Knapp of the South Carolina Small Business Chamber of Commerce said the Interior Department’s new move unfairly favored the oil and gas sector over the tourism sector.

“What part of the business sector are they listening to? It’s certainly not small or coastal businesses whose livelihoods are dependent on healthy oceans,” Knapp said.

Last month, a leasing round in Arctic Alaska went largely ignored by drilling companies, drawing very few bids. Seven bids were received in total, encompassing roundly 80,000 acres, which translates to less than a percent of the 10.3 million acres made available in the state’s National Petroleum Reserve under the Trump administration’s orders. The lease was the largest of its kind since 1999.

The Department of the Interior is also trying to expedite drilling permits in the Alaska National Wildlife Refuge, to the ire of environmentalists. Vincent DeVito, energy advisor to the Secretary of the Interior, told S&P Global Platts that the government would continue its environmental stewardship of the land despite the drilling. The latest effort would open eight percent of the refuge’s lands to oil and gas exploration.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News