Major Oil Companies Take A Pass On Controversial Lease Sale In Arctic Refuge
In non-coup-against-democracy news:
One of the Trump administration's biggest environmental reversals turned into something of a bust Wednesday. A long-awaited oil lease sale in Alaska's Arctic National Wildlife Refuge attracted little interest, with no major oil companies submitting offers.
Instead, Alaska's state-owned economic development corporation was the only bidder on about 10 oil leases in the northernmost piece of the refuge, called the coastal plain. Two small companies also submitted bids. Some areas drew no offers at all. ...
The why question becomes interesting, though I suspect that the prospect of a lease reversal by the Biden Administration, or other similarly consequential action, might be a factor.