This week, the Interior Department announced the planned auction of more than 958,000 acres in Alaska’s Cook Inlet, but the question remains whether big oil companies have more appetite to drill this time around
. In order to pass the Act the Biden administration had to appeal to a broad base of supporters, from staunch climate advocates to hardcore coal country representatives. In particular, the Act had to appeal to holdout West Virginia Senator Joe Manchin. Though Manchin is a democrat he represents a constituency that depends on fossil fuels for their livelihoods and prioritizes coal country jobs over climate measures.
The message seems to be that while oil and gas leases still hold major political sway, they have lost their luster in the eyes of the private sector. Anwritten for the Houston Chronicle at the time of last year’s “failed auction,” argued that the shocking lack of interest from anyone other than a state-owned economic development corporation signaled that the oil itself was no longer needed, but oil jobs are desperately missed.
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