Biden administration moves toward approval for major Alaska oil drilling project
Publishing timestamp: 2023-02-01 15:41:13
Summary
The Biden administration has recommended a scaled-down version of a major oil drilling project in Alaska led by ConocoPhillips, which climate groups have long condemned. The Interior Department's Bureau of Land Management released an environmental analysis that proposes lowering the number of drilling sites from five to three. The project would produce 600 million barrels of oil over 30 years and generate 278 million metric tons of carbon emissions. Environmental advocates argue the plan would undermine the Biden administration's agenda to curb fossil fuel production and say the project's emissions would be equivalent to 66 new coal-fired power plants. Proponents of the project say it would create jobs and revenue for the federal government.
Sentiment: NEGATIVE
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Keywords: politics, climate, markets, conocophillips, environment, business, joe manchin, business news, oil and gas, energy, climate change, joe biden,
Source: https://www.cnbc.com/2023/02/01/biden-moves-toward-approval-for-alaska-oil-drilling-project.html