Biden administration approves $8B Alaskan oil and gas project
Friday, March 17, 2023
The Biden administration has approved an $8 billion oil and gas project in Alaska, according to Energy Live News.
ConocoPhillips’ Willow Project is expected to produce up to 180,000 barrels of oil per day.
However, the project’s approval has been met with criticism due to its anticipated impact on the environment. The U.S. Bureau of Land Management anticipates it will produce up to 278 metric tonnes of carbon emissions during its 30-year lifespan.
The Biden administration has reduced the project from five sites to three in an effort to address the project’s opponents’ concerns.
Learn more: Energy Live News > US approves Alaskan oil and gas project
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Depending on the company, royalty payments can arrive monthly or quarterly.
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Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
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