Under the Radar
Trump Admin Finalizes Oil & Gas Development Plan for Arctic National Wildlife Refuge
The Trump administration has announced the final approval of a program that will allow oil and gas development in a portion of the Arctic National Wildlife Refuge (ANWR).
ANWR is a 19.3 million acre area on Alaska’s north slope on the Beaufort Sea that was opened to oil and gas exploration by the Tax Cuts and Jobs Act of 2017. The Congressional Budget Office (CBO) projected the development would generate $1.1 billion in tax revenue from leasing royalties over a 10 year period.
The new leasing program, which will be administered by the Bureau of Land Management (BLM), will allow energy development inside a 1.56 million acre non-wilderness portion of the ANWR Coastal Plain. Under the decision, the first least sale must occur before December 22, 2021, while the second lease sale would occur before December 22, 2024.
In an Interior Dept. press release announcing the decision, Alaska Governor Mike Dunleavy (R) noted that the area has “between 4.3 and 11.8 billion barrels of technically recoverable oil reserves."
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