• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 52 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Record Surge in Global Coal Capacity Led by China

Record Surge in Global Coal Capacity Led by China

China’s massive annual additions of…

Small Banks Significantly Boost Loans to Oil And Gas Firms

Small Banks Significantly Boost Loans to Oil And Gas Firms

Regional banks BOK Financial, Citizens…

Washington Greenlights Conoco Oil Project In Alaska

The Bureau of Land Management approved a ConocoPhillips-led oil exploration project in Alaska, which could yield some 160,000 barrels of crude daily when it becomes operational, the BLM said.

“President Trump made his administration focus on American energy independence and the freedom it provides from day one of his term,” Secretary of the Interior David Bernhardt said in the news release. “This decision will make a significant contribution to keeping oil flowing down the 800-mile Trans Alaska Pipeline decades into the future while delivering federal and state revenue as well as important impact assistance to the affected native communities.”

“The project is an important job creator for families in Alaska, with more than 1,000 jobs expected during peak construction and more than 400 jobs during operations, creating more revenue for the State, and offering protections for important resource values such as caribou and subsistence activities,” said the head of BLM Alaska, Chad Padgett.

Alaska is one of the oldest oil-producing regions in the United States, but lately production has been on a steady decline, which has prompted authorities to look for ways to reverse the decline, which has affected the state’s income. Washington selected Conoco’s Willow plan last year. The plan will involve the construction of roads, one or two airstrips, a gravel mine, and more than 300 miles of pipelines.

The Willow project has reserves estimated at 400 to 750 million barrels of crude and will be instrumental for the reversal of Alaska’s declining production. Opposition from environmentalists, however, remains.

“The attacks on the Arctic just continue to escalate. The finalization of oil and gas plans for the Willow project and the Arctic National Wildlife Refuge are a one-two punch to wildlife including imperiled Southern Beaufort Sea polar bears and their critical habitat,” said the Alaska program director of Defenders of Wildlife, Nicole Whittington-Evans, as quoted by The Hill.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News