Zürcher Nachrichten - To drill or not to drill: Biden to make decision on Alaska oil project

EUR -
AED 4.122372
AFN 71.83997
ALL 91.464193
AMD 407.264835
ANG 2.009681
AOA 1029.330598
ARS 1711.802924
AUD 1.623561
AWG 2.023303
AZN 1.980396
BAM 1.945467
BBD 2.262682
BDT 138.12635
BGN 1.889659
BHD 0.42355
BIF 3372.487238
BMD 1.122498
BND 1.438396
BOB 13.53107
BRL 5.868594
BSD 1.123433
BTN 108.269931
BWP 15.892587
BYN 3.383975
BYR 22000.959233
BZD 2.259399
CAD 1.598746
CDF 2595.771504
CHF 0.934783
CLF 0.027924
CLP 1102.708317
CNY 7.526068
CNH 7.540514
COP 3729.084015
CRC 513.251036
CUC 1.122498
CUP 26.960599
CVE 109.682428
CZK 24.466528
DJF 199.490571
DKK 7.475454
DOP 67.120504
DZD 150.022987
EGP 58.725392
ERN 16.837469
ETB 183.500349
FJD 2.530503
FKP 0.846153
GBP 0.85142
GEL 2.912918
GGP 0.846153
GHS 13.161037
GIP 0.846153
GMD 83.065309
GNF 9882.509646
GTQ 8.582035
GYD 234.990814
HKD 8.806501
HNL 30.156482
HRK 7.484144
HTG 147.02255
HUF 369.359056
IDR 20195.982577
ILS 3.464142
IMP 0.846153
INR 108.095372
IQD 1471.618039
IRR 1901343.101647
ISK 137.011904
JEP 0.846153
JMD 176.940193
JOD 0.795867
JPY 177.575782
KES 145.643577
KGS 98.159104
KHR 4549.632246
KMF 488.286925
KPW 1010.248485
KRW 1528.830974
KWD 0.346739
KYD 0.936227
KZT 497.795987
LAK 25192.193186
LBP 100600.71725
LKR 371.241636
LRD 192.60698
LSL 18.606871
LTL 3.314445
LVL 0.678987
LYD 7.196775
MAD 10.956008
MDL 20.002757
MGA 4960.651797
MKD 61.244702
MMK 2357.002274
MNT 4038.80791
MOP 9.08037
MRU 44.977107
MUR 53.678492
MVR 17.353619
MWK 1947.953562
MXN 20.617716
MYR 4.586535
MZN 71.722232
NAD 18.606046
NGN 1490.44186
NIO 41.340423
NOK 10.821194
NPR 173.229587
NZD 2.006413
OMR 0.431617
PAB 1.123433
PEN 3.876212
PGK 5.011382
PHP 70.47435
PKR 311.198327
PLN 4.377371
PYG 6546.230094
QAR 4.09495
RON 5.344892
RSD 117.551359
RUB 93.588262
RWF 1657.695252
SAR 4.216319
SBD 9.052991
SCR 15.506932
SDG 675.182772
SEK 11.312153
SGD 1.438583
SHP 0.847008
SLE 27.612499
SLL 23538.211021
SOS 641.990108
SRD 42.287301
STD 23233.44063
STN 24.370557
SVC 9.82979
SYP 14594.718242
SZL 18.599211
THB 37.835473
TJS 10.346499
TMT 3.928743
TND 3.33996
TOP 2.702705
TRY 55.03947
TTD 7.621519
TWD 35.858978
TZS 2957.785409
UAH 50.444467
UGX 4460.309336
USD 1.122498
UYU 45.219818
UZS 13278.472196
VES 964.338019
VND 29164.740958
VUV 134.416709
WST 3.116279
XAF 655.957
XAG 0.018549
XAU 0.000269468808
XCD 3.033607
XCG 2.024557
XDR 0.793664
XOF 655.957
XPF 119.331742
YER 265.386533
ZAR 18.788876
ZMK 10103.828911
ZMW 22.091661
ZWL 361.443872
SSP 6412.372524
MXV 2.333369
  • RBGPF

    0.0000

    65

    0%

  • CMSC

    0.6300

    20.16

    +3.13%

  • CMSD

    0.5300

    20.34

    +2.61%

  • NGG

    -0.4900

    75.33

    -0.65%

  • AZN

    -3.7700

    157.7

    -2.39%

  • BCE

    -0.4200

    19.92

    -2.11%

  • GSK

    -0.9900

    47.18

    -2.1%

  • BCC

    0.5500

    74.7

    +0.74%

  • JRI

    0.0000

    10.77

    0%

  • RIO

    -1.3000

    92.87

    -1.4%

  • RYCEF

    -0.2000

    19.4

    -1.03%

  • RELX

    0.3100

    33.49

    +0.93%

  • VOD

    0.2300

    16.38

    +1.4%

  • BP

    0.5100

    44.5

    +1.15%

  • BTI

    -1.2100

    53.19

    -2.27%

To drill or not to drill: Biden to make decision on Alaska oil project
To drill or not to drill: Biden to make decision on Alaska oil project / Photo: Mandel NGAN - AFP

To drill or not to drill: Biden to make decision on Alaska oil project

US President Joe Biden is poised to decide whether to pull the plug on a massive oil drilling project on Alaska's North Slope or allow it to go ahead.

Text size:

With the decision imminent, environmentalists have ramped up pressure on the White House, urging Biden to live up to the climate change pledges he made during his campaign.

During the 2020 presidential race, the Democratic candidate vowed not to approve any new leases for oil and gas projects on federal lands.

But Biden has found himself stuck in the middle of a years-long battle over the so-called Willow Project, a plan by US energy giant ConocoPhillips to drill for oil in the federally-owned National Petroleum Reserve in Alaska's pristine western Arctic.

The Trump administration approved the Willow Project at the tail end of the former president's term but it was blocked by a judge for further review.

The Bureau of Land Management (BLM), in an environmental impact analysis in February, approved three drilling sites while striking down one and deferring consideration of another.

ConocoPhillips welcomed the BLM's assessment, saying it can "provide a viable path forward for development of our leasehold."

The Interior Department, which oversees the BLM, said, however, it has "substantial concerns" about the project "including direct and indirect greenhouse gas emissions and impacts to wildlife and Alaska Native subsistence."

Biden has described global warming as an existential threat and promoted the development of renewable energy sources.

Temperatures in Alaska have been rising faster than in other regions of the planet and environmental groups have warned that the oil extraction project would make things worse.

The Willow Project will add more than 250 million metric tons of carbon emissions to the atmosphere over the next 30 years, the Sierra Club said, equivalent to the annual emissions of 66 coal plants.

Greenpeace described it as a "carbon bomb."

A petition on Change.org seeking to halt the project has garnered more than three million signatures and a #StopWillow campaign on TikTok has drawn 150 million views.

- 180,000 barrels of oil per day -

Backers of the Willow Project defend it as a source of several thousand jobs and a contributor to US energy independence with production of 180,000 barrels of oil per day at its peak or some 576 million barrels over 30 years.

Alaska's two Republican senators and the state's sole member of the House, Mary Peltola, a native Alaskan and a Democrat, met with Biden last week to urge him to approve the project.

"We hope the President will listen to the voices of indigenous Alaskans who live on the North Slope, the voices of labor leaders and union workers who are ready to help build Alaska's economy (and) listen to the voices of national security officials underscoring the importance of Willow for American energy security," they said.

Peltola, in an opinion piece published in The Hill, said Alaskans "aren't blind to the impacts of climate change" but the Willow Project can serve as a bridge as the country transitions away from fossil fuels and towards renewable energy sources.

"At the same time, we can reduce America's dependence on foreign sources of oil -- which makes us all safer in a world that has grown more unpredictable after Russia invaded Ukraine," Peltola said.

Biden has pledged to cut greenhouse gas emissions in half by 2030 compared with 2005 with the goal of achieving a net zero emissions economy by no later than 2050.

A.Wyss--NZN