White House blames predecessors for Biden approving massive oil drilling project [FOX News]
ConocoPhillips (COP)
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Source: FOX News
close President Biden and White House officials have repeatedly blamed the recent approval of a massive oil drilling project in Alaska on previous administrations. On March 13, after numerous delays, the Department of the Interior (DOI) approved three of the five drilling sites proposed by oil company ConocoPhillips as part of its Willow Project in the National Petroleum Reserve located in northern Alaska. While the DOI gave the final seal of approval, President Biden played an active role in approving the project which is projected to produce 576 million barrels of crude oil over its 30-year lifespan. But despite Willow's expected popularity in Alaska and expected economic benefits — in addition to its projected oil production output, ConocoPhillips said it would create more than 2,500 construction jobs, 300 long-term jobs and deliver as much as $17 billion to local and federal taxpayers — the Biden administration has opted against taking credit for the project approval. "Th
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- 5/2/24 - Form 10-Q
- COP's page on the SEC website