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Biden Administration Authorizes Alaska Project

OIL

Bidens administration has authorised a giant ConocoPhillips oil project in northwest Alaska.

  • The $8 billion project is at the forefront of pending US oil projects today, and the 180,000 daily barrels of crude it’s projected to eventually yield represents roughly 1.6% of current US production.
  • ConocoPhillips applied to develop the project in 2018 and the Trump administration approved it two years later. But a federal district court tossed out that approval in August 2021.
Energy BulletsCommodities
Energy BulletsCommodities

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