Of the about 60 tracts of land opened up for leasing by the Trump administration, only five received bids. Only Hex Energy and the state-owned Alaska Industrial Development and Export Authority bid on tracts.
Overall, the lease sale netted about $3.7 million, half of which will go to the state of Alaska.
Friday’s auction advances Republicans’ long-awaited and long-delayed goal of drilling in the Arctic National Wildlife Refuge (ANWR), despite pushback from environmental advocates. However, the small number of bids and bidders also demonstrates limited corporate interest in drilling in the controversial spot.
The Arctic refuge is in Alaska’s northeast corner and is on the traditional homelands of the Iñupiat and Gwichʼin peoples.
It’s about the size of South Carolina and contains wildlife including black, brown and polar bears, caribou, wolves, wolverines and more than 200 species of birds.
Whether or not to drill there has been the subject of significant partisan debate. Supporters of drilling say it could help the local economy and add to the nation’s supply of oil. Opponents argue that drilling in such an ecologically sensitive area is not necessary and say the lands should be conserved.
Read more at TheHill.com.
