US Edition
Published • loading... • Updated
Trump Keeps Trying to Auction Off This US Property for Oil Drilling. No One Is Buying.
No bids were submitted for the Cook Inlet lease sale due to high risks and declining production, continuing a trend of minimal industry interest in Alaska offshore drilling.
- This past week, the U.S. Bureau of Ocean Energy Management reported no bids from oil and gas drillers for more than 1 million acres in Cook Inlet after the March 3 deadline.
- Industry executives note drilling in the Arctic and Alaska demands decades and billions in investment, deterring oil and gas companies as Cook Inlet basin reserves have declined for decades with scant interest and just one bid in 2022.
- Local lease data reveal eight active federal leases in Cook Inlet owned by Houston-based Hilcorp are not producing, while a state of Alaska auction posted a single $600 bid for a 20-acre parcel.
- In accordance with OBBBA, the government will continue offering Cook Inlet leases as officials say future sales are mandated despite no bids this week.
- Environmental groups and Earthjustice responded that the lack of bids highlights tension between the Trump administration's efforts and local ecological concerns, especially regarding Cook Inlet wildlife.
Insights by Ground AI
11 Articles
11 Articles
Oil companies shun Trump administration’s Alaska offshore auction | Honolulu Star-Advertiser
Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet today, declining to submit even a single bid.
·Honolulu, United States
Read Full Article
Oil companies reject Trump Administration's Alaska Offshore Auction
The Trump administration sold more than 400,000 acres (406,876 hectares) of land in Alaska's Cook Inlet on Wednesday, but no oil and gas drillers showed up. They refused to make a bid.The One Big Beautiful Bill Act of U.S. president Donald Trump…
Coverage Details
Total News Sources11
Leaning Left3Leaning Right0Center5Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
Factuality
To view factuality data please Upgrade to Premium
