Bank of America joins growing list to say no to financing Arctic drilling
Friday, December 4, 2020
Bank of America is the latest large U.S. bank to announce it will not finance oil and gas drilling projects in the Arctic, according to Yahoo News.
Goldman Sachs, Morgan Stanley, Chase, Wells Fargo and Citi have all adopted similar policies this year.
Bank of America’s decision follows the Trump administration’s decision to launch the formal process of selling oil drilling leases in the Arctic National Wildlife Refuge in Alaska.
Learn more: Yahoo News > Bank of America Latest to say no to financing Arctic drilling
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.