Alaska condemns any restrictions on $8B Willow oil project by Biden administration
Monday, February 20, 2023
Alaska’s senators condemned any potential restrictions from the Biden administration in the ConocoPhillips’ $8 billion Willow oil project, warning that the project wouldn’t be viable if authorized with onerous restrictions, according to Oil & Gas 360.
ConocoPhillips’ Willow oil project in the National Petroleum Reserve-Alaska could yield 180,000 barrels of oil per day and has gained the support of some labor unions and Alaska Natives who believe the venture could create jobs and financial opportunities. However, the project has been strongly opposed by environmental activists and residents of a nearby village who say the project could disturb caribou migration patterns and exacerbate climate change.
The project creates a challenge for President Joe Biden who’s promised to transition the U.S. away from fossil fuels and also asked American oil companies to increase crude production to keep gasoline prices affordable. The Interior Department is expected to issue its final decision in early March.
Learn more: Oil & Gas 360 > Alaska condemns restrictions on Alaskan oil drilling project by Biden administration
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