Biden administration to approve major Alaska oil drilling project Willow

[Scott]

The Biden administration is soon set to approve ConocoPhillips’ Willow Project, a major oil drilling project on Alaska’s North Slope, according to a congressional source familiar with the details. The decision will be announced next week, the source confirmed.

The expected approval is a victory for Alaska’s bipartisan congressional delegation and a coalition of Alaska Native tribes and groups who hailed the drilling venture as a much-needed new source of revenue and jobs for the remote region.

https://edition.cnn.com/2023/03/10/politics/alaska-oil-willow-drilling-project-white-house/index.html

[vandeventer]

About time!!!

https://www.wsj.com/articles/federal-oil-leases-slow-to-a-trickle-under-biden-11662230816

[placeholder]

Just because the Biden administration gave approval, and even if the project passes other legal hurdles, that doesn't mean it will actually get done. At the insistence of investors who believe electrification is going to slash the need for more oil, oil companies have been cutting back on investing in the development of new oil fields. Alaskan oil is not cheap to produce:

“For the North Slope, the average cost to produce a barrel of oil before we pay any tax, whether it’s to the federal government or to the state government, is about $52 a barrel,” said Kara Moriarty, president and CEO of the Alaska Oil and Gas Association, an industry trade group."

https://www.cnbc.com/2016/04/21/cheap-oil-creates-a-new-frontier-in-alaska-making-ends-meet.html#:~:text=“For the North Slope%2C the,Association%2C an industry trade group.

[Tug]

They have plenty of places to drill allready that doesn’t mean they will they are making record profits just milking us for att they can without spending anything 

[stevenl]

Disagree with this decision, hope the project gets cancelled.