Biden Thwarts Oil Drilling Across Alaska's Petroleum Reserve [BNN Bloomberg (Canada)]
ConocoPhillips (COP)
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Source: BNN Bloomberg
petroleum reserve in Alaska and set the stage to block road construction essential to opening a copper mine in the state. The twin moves are among a string of actions by President Joe Biden to curtail extractive development on federal lands and wall off more than 41 million acres for conservation. They come as Biden seeks to garner support from young, climate-minded voters with his record safeguarding land and combating global warming, after disappointing some last year by authorizing Conocophillips's massive Willow oil project. “Alaska's majestic and rugged lands and waters are among the most remarkable and healthy landscapes in the world, sustaining a vibrant subsistence economy for Alaska Native communities,” Biden said in an emailed statement. “These natural wonders demand our protection.” The moves have drawn condemnation from oil, gas and mining interests who said the Biden administration is locking up resources essential to fueling America's energy needs today and in the
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