US auctions drilling rights in Alaska Reserve on March 9
On Thursday, the Trump administration announced that it would sell oil and gas?drilling?rights across 5.5 millions acres of Alaska’s National?Petroleum Reserve.
Why it's important
This sale is?the first in a series of at least five that President Donald Trump signed into law with his One Big Beautiful Bill Act last year. Since 2019, the U.S. government has not sold tracts on the Alaskan reserve, also known as NPR-A.
KEY QUOTE
Bill 'Groffy', acting director of Interior Department's Bureau?of?Land?Management, stated in a statement that the National Petroleum Reserve in Alaska played a vital part in advancing America’s energy independence.
THE REPLY
In a statement, Jenny Rowland-Shea said, "Selling our most sensitive public land will only pad the pockets of industry at the expense American communities and ecosystems."
CONTEXT
The sale is part the administration's effort to increase domestic oil and natural gas production, and?reverse Biden's restrictions on drilling millions of acres of?reserve. Environmentalists are concerned about the risks of drilling on one of America's largest natural ecosystems.
By the Numbers
BLM is offering?over 600 tracts of land on approximately 5.5 million acres. Oil and gas companies currently lease 1.6 million acres of the 23-million acre reserve.
What's Next?
Bids will be accepted until March 5 and the auction will take place on March 9 via livestream.
(source: Reuters)
