Interior chief lifts National Petroleum Reserve and Arctic National Wildlife Refuge restrictions as debt-busters. Some doubt the change will help as intended.
The sweeping actions by Trump and Burgum, who also chairs the National Energy Dominance Council, rescind âall regulations, orders, guidance documents, policies, and any other similar agency actions ⌠promulgated, issued, or adopted between Jan. 20, 2021, and Jan. 20, 2025,â essentially erasing dozens of actions related to Alaska by President Joe Biden and his administration.
During Trumpâs first term, Congress directed the Department of Interior (DOI) to open a 1.56-million acre coastal plain area within ANWRâs Section 1002 to oil and gas drilling for the first time when it adopted the 2017 Tax Cuts and Jobs Act (TCJA). The U.S. Geological Survey estimates the area could hold up to 11.8 billion barrels of oil.
Under the executive actions and Burgumâs directive, the bureau must now make the entire 1.56-million-acre ANWR coastal plain and 82 percent of NPR available for oil and gas leasing. More than 13 million of NPRâs 23 million acres had been off-limits to development for decades since at least 1980.
âFor far too long, the federal government has created too many barriers to capitalizing on the stateâs energy potential,â Burgum said.
Trump campaigned on a vow to âunleash American energyâ to ignite economic development and pay down the national debt, something Burgum expounded upon during a March 12 discussion before global energy leaders at CERAWeek by S&P Global in Houston.
âOur national assets far exceed the $36.5 trillion in debt,â he said, noting assets administered by DOIâ500 million acres of public land, 700 million acres of subsurface mineral rights, 2.5 billion offshore acresâare long-mismanaged resources the Trump administration sees as debt-busting revenue generators.
Subsequent withdrawals and cancellations of leases âultimately led to taxpayers receiving no new revenue from the saleâ the Washington-based watchdog said.
The second lease sale, the January 2025 auction that spanned 400,000 acres, attracted no industry bids at all.
âANWR lease sales were originally projected to generate $1 billion in federal revenue to offset the TCJA tax cuts, which Congress now seeks to make permanent,â the nonprofit said.
âOur examination, grounded in lease sale data spanning the past two decades, provides a rigorous, data-driven estimate of likely federal revenues,â it said, that âdirectly challenge overly optimistic revenue projections that have been used to justify recent fiscal policies, particularly using ANWR lease sales as revenue-raising offsets for the proposed $4.5 trillion in lost revenue as part of the budget reconciliation package.â
The pipeline project, sponsored by the state-owned Alaska Gasline Development Corporation, seeks to funnel about 3.3 billion cubic feet of gas a day (Bcf/d) from Prudhoe Bay above the North Slope to Nikiski on the Kenai Peninsula, about 80 miles south of Anchorage. It would be the only LNG export terminal on the west coast of the United States.
Despite the re-authorization, nearly 80 Biden executive orders related to Alaska energy development had locked the LNG project in a regulatory limbo.
âItâs a very different world, right?â Alaska Gov. Mike Dunleavy said during a March 14 CERAWeek address, noting Trumpâs Alaska executive actions donât just untangle oil, gas, and the stateâs LNG project from regulatory straitjackets, but clear away federal rules restricting access to critical minerals, timber, and other resources in the massive state.
âItâs an amazing executive order,â he said. âI mean, we’ll have that framed on our walls for decadesâ in the Alaska governorâs office in Juneau.
The governor has been on a sales trip to Japan, South Korea, and Thailand securing customers for when the stateâs LNG pipeline/liquefaction plant begins producing in less than three years.
âThe news today will provide more investment opportunities, more jobs, and a better future for Alaskans,â he said. âWe look forward to our continued work with President Trump and his administration to move Alaska and our country forward.â
Original News Source Link – Epoch Times
Running For Office? Conservative Campaign Consulting – Election Day Strategies!