{"id":1756243,"date":"2022-11-30T06:04:10","date_gmt":"2022-11-30T11:04:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1756243"},"modified":"2022-11-30T08:49:02","modified_gmt":"2022-11-30T13:49:02","slug":"u-s-to-auction-almost-1-million-acres-off-alaskan-coast-for-oil-drilling","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-to-auction-almost-1-million-acres-off-alaskan-coast-for-oil-drilling\/","title":{"rendered":"U.S. to Auction Almost 1 Million Acres Off Alaskan Coast for Oil Drilling"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fu-s-to-auction-almost-1-million-acres-off-alaskan-coast-for-oil-drilling%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1756243&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Almost one million acres off the coast of <a href=\"https:\/\/www.theepochtimes.com\/t-alaska\">Alaska<\/a> will be auctioned off by the Biden administration next month for oil and gas <a href=\"https:\/\/www.theepochtimes.com\/t-drilling\">drilling<\/a>.<\/p>\n<p class=\"subheading\">This is to comply with a mandate in the <a href=\"https:\/\/www.theepochtimes.com\/t-inflation-reduction-act\">Inflation Reduction Act<\/a> (IRA) that was part of a compromise imposed by Sen. Joe Manchin (D-W.V.) on the White House to gain his support for passage of the bill.<\/p>\n<p>The news of the auctions comes a few weeks after President Joe Biden had an heated exchange with a climate protester, and declared at a rally on Nov. 6 that there would be \u201cno more drilling,\u201d<\/p>\n<p>\u201cThere is no more drilling. I haven\u2019t formed any new drilling,\u201d he repeated.<\/p>\n<p>The U.S. Bureau of Ocean Energy Management (BOEM), however, will now offer approximately 958,202 acres off Alaska\u2019s south-central coast in a lease sale scheduled for Dec. 30, 2022<a href=\"https:\/\/www.boem.gov\/newsroom\/press-releases\/boem-publishes-final-notice-sale-december-cook-inlet-lease-sale\">, according to a press release.<\/a><\/p>\n<p>The lease sale must to be completed by the end of the year to comply with the IRA, after which those\u00a0acres could be accessed for new gas and oil drilling projects.<\/p>\n<h3>Biden Administration Reverses Stance on Alaskan Drilling<\/h3>\n<p>Cook Inlet Outer Continental Shelf Oil &#038; Gas Lease Sale 258\u00a0<a href=\"https:\/\/www.federalregister.gov\/documents\/2022\/11\/29\/2022-25794\/cook-inlet-planning-area-outer-continental-shelf-oil-and-gas-lease-sale-258\">will offer for auction 193 blocks<\/a> of federally controlled territory in the northern part of Alaska\u2019s Cook Inlet Planning Area.<\/p>\n<p>This territory stretches roughly from Kalgin Island in the north to Augustine Island in the south.<\/p>\n<p>The Department of the Interior has estimated\u00a0that the area could\u00a0produce\u00a0nearly 200 million barrels of crude oil and 300 billion cubic feet of natural gas over the duration of the lease agreements, but only if drilling actually takes place, as new offshore leases can take years to bring online,\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-28\/biden-administration-to-offer-new-oil-leasing-off-alaska-coast\">reported Bloomberg.<\/a><\/p>\n<p>The lease sale terms include a mandate to mitigate against potentially adverse effects on protected species or resources and avoid potential conflicts associated with oil and gas development in the region.<\/p>\n<p>Ironically, the territory off Alaska\u2019s Cook Inlet is the same area that was to be auctioned off in May but was\u00a0cancelled by the Biden administration after claiming a lack of interest in a lease sale.<\/p>\n<p>The auction was later reinstated into the IRA bill back in August owing to Manchin\u2019s insistence.<\/p>\n<p class=\"a8d-pre\">The BOEM published a Final Environmental Impact Statement in October that analyzed measures to protect sea otters, beluga whales, and subsistence, recreational, and commercial fisheries before the sale.<\/p>\n<p>Meanwhile, the announcement caused outrage from environmental groups, like the Center for Biological Diversity, which claims that drilling activity would harm endangered whale populations such as the Cook Inlet beluga and other species, reported Bloomberg.<\/p>\n<h3>Biden Blames American Energy Shortages on Oil Industry, Despite His Opposition to Drilling<\/h3>\n<p>The United States has been facing high gas prices and strained supplies of oil and gas, putting massive pressure on President Biden to allow energy companies to boost production.<\/p>\n<p>The president has placed the blame for the energy crisis on\u00a0the gas and oil industry, and has\u00a0demanded that they drill more, contradicting his own hostile stance against further drilling.<\/p>\n<p>\u201cIf they were drilling more, we\u2019d have more\u2014more relief at the pump. But the oil industry hasn\u2019t met their commitment to invest in America and support the American people,\u201d Biden said on Nov. 3.<\/p>\n<p>He also accused the oil companies of \u201ctaking advantage\u201d of higher prices.<\/p>\n<p>Since Biden took office, the Interior Department has only leased 126,228 acres of land before it opened up the Alaska reserves for drilling, \u00a0<a href=\"https:\/\/www.wsj.com\/articles\/federal-oil-leases-slow-to-a-trickle-under-biden-11662230816\">according<\/a> to\u00a0The Wall Street Journal.<\/p>\n<p>The last president to lease less than 4.4 million acres in the first 19 months of their first term was President Richard Nixon.<\/p>\n<p>Biden also halted the Keystone XL pipeline, which would have supplied 830,000 barrels of oil to the United States from Canada.<\/p>\n<p>While American oil production has been gradually recovering from the pandemic, the pace of production\u00a0has been rather sluggish, while oil prices are accelerating.<\/p>\n<p>Oil production in the United States is expected to maintain a low growth rate in 2023,\u00a0due to the low number of new oil rigs, fracking spreads, and lack of workers, according to Ezra Yacob, president of EOG Resources in an investors call.<\/p>\n<p>Fewer oil drillers have the capacity to boost production to keep up with demand, and many are cautious about further investments in this sector, despite more available accessible leases for drilling due to the IRA mandate.<\/p>\n<p>\u201cI do think coming out of the pandemic, we\u2019ve had a consolidation across the industry \u2026 You\u2019ve been left with less companies, and those companies that have the size, the scale, balance sheets, things of that nature to be able to continue to drill and operate,\u201d Yacob said.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-bryan-jung\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/ttl7daySGw_WEB_BrianJung.jpg\" alt=\"Bryan Jung\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Almost one million acres off the coast of Alaska will be auctioned off by the Biden administration next month for oil and gas drilling.This is to comply with a mandate<\/p>\n","protected":false},"author":1,"featured_media":1695376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1756243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1756243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1756243"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1756243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1695376"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1756243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1756243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1756243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}