Wednesday, July 17, 2024

Biden administration considers expanding Alaskan oil and gas drilling ban

https://nypost.com/wp-content/uploads/sites/2/2021/07/Biden-1.jpg?quality=90&strip=all&w=2048

https://worldoil.com/news/2024/7/16/biden-administration-considers-expanding-alaskan-oil-and-gas-drilling-ban/?oly_enc_id=1027J2600390B9V 

(WO) – On July 12, the Bureau of Land Management (BLM) announced it is seeking public opinion on whether or not to expand so-called “protected” areas in Alaska’s National Petroleum Reserve (NPR-A). If enacted, the measure would expand on the Biden administration’s recent ban on new oil and gas drilling projects in the region.

BLM is looking for input on whether to add additional protection measures by identifying additional significant resource values in existing Special Areas, expanding Special Areas, or creating new Special Areas within the NPR-A, according to an online statement.

Under the Naval Petroleum Reserves Production Act (NPRPA) of 1976, BLM is required to “balance” oil and gas development with protected “special areas” in Alaska. According to BLM, “the final rule updates the existing regulatory framework, adopted more than 40 years ago, allowing the BLM to respond more effectively to changing conditions in the NPR-A."

In April 2024, the Biden administration formally limited oil and gas drilling across 13 million acres of the 23-million-acre NPR-A. Leasing is also blocked 10.6 million acres. The move has brought wide condemnation from the oil and gas industry on concerns over harnessing U.S. resources to improve energy security at a time of geopolitical uncertainty.

The region is suspected to hold close to 9 Bbbl of recoverable resources. Earlier this month, ConocoPhillips sued the Biden administration over it’s Alaskan drilling ban. The company operated nearly 2 million acres in the state.

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