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Nearly 50% Of US Adults Support Approval Of Willow Project

ENERGY SECURITY

A Morning Consult survey has found that 48% of US adults support President Biden's decision to approve the USD$8 billion Alaskan ConocoPhillips oil project Willow.

  • Morning Consult: "Support for Willow rises among older generations, with 60% of baby boomers backing the project. Among the generations, support for Willow is lowest with Gen Zers (28%), while about 2 in 5 millennials back the development."
  • The report continues: "Considering oil developments in general, more than 1 in 2 Republicans said they believe the positive economic impacts of oil developments outweigh the negative environmental impact, while about 1 in 3 Democrats agree. On the contrary, nearly the same share of Democrats (38%) said the negative environmental impacts of oil developments outweigh the positive economic impacts."
  • Although the reaction from oil markets on Willow has been muted, Biden's pivot on a campaign pledge to roll back approval for new oil and gas projects on federal land may blunt Republican accusations that the Biden administration is weak on domestic energy production.

Figure 1: Support for President Biden's Decision to Authorise Willow Project

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A Morning Consult survey has found that 48% of US adults support President Biden's decision to approve the USD$8 billion Alaskan ConocoPhillips oil project Willow.

  • Morning Consult: "Support for Willow rises among older generations, with 60% of baby boomers backing the project. Among the generations, support for Willow is lowest with Gen Zers (28%), while about 2 in 5 millennials back the development."
  • The report continues: "Considering oil developments in general, more than 1 in 2 Republicans said they believe the positive economic impacts of oil developments outweigh the negative environmental impact, while about 1 in 3 Democrats agree. On the contrary, nearly the same share of Democrats (38%) said the negative environmental impacts of oil developments outweigh the positive economic impacts."
  • Although the reaction from oil markets on Willow has been muted, Biden's pivot on a campaign pledge to roll back approval for new oil and gas projects on federal land may blunt Republican accusations that the Biden administration is weak on domestic energy production.

Figure 1: Support for President Biden's Decision to Authorise Willow Project

Keep reading...Show less