Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Trump Auction for Arctic Oil Rights Sees Little Interest

By Anna Peel. Originally published at ValueWalk.

Arctic Oil Rights Coronavirus Stimulus Funding Bills War Against Coronavirus Hedge election risk stock Wager Presidential Election Trump Stimulus Bills DEFCON 3 Health Issues

Trump Auction for Arctic Oil Rights Sees Little Interest: ‘Era of Drilling for Oil at Any Cost Is Over’


Q3 2020 hedge fund letters, conferences and more

Trump Auction for Arctic Oil Rights

BERKELEY, CA—JAN. 7,  2021—Trump administration officials auctioned off oil and gas leases in Alaska’s Arctic National Wildlife Refuge on Wednesday, a move that marks one of the most significant environmental rollbacks President Trump has accomplished in his term.

But with waning oil prices and an increasing number of banks saying they would not finance Arctic energy projects, major oil companies were uninterested in the leases. Instead, the state agency, Alaska Industrial Development and Export Authority, was the main bidder. The agency put up all but two of the winning bids, which went to two small energy firms.

Danielle Fugere, president of As You Sow, had this to say about the news:

“Yesterday’s almost non-existent bidding for oil and gas leases in the Arctic National Wildlife Refuge were not surprising. It confirms what we already know to be true: the era of drilling for oil at any cost is over.

“There is simply no realistic future scenario under which high-cost drilling in the Refuge will be viable. The world is awash in unneeded oil and gas reserves, the energy market is moving away from high-carbon fossil fuel energy, and the human and environmental costs of drilling in this highly sensitive area are too high.”


As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. See our resolutions here.

The post Trump Auction for Arctic Oil Rights Sees Little Interest appeared first on ValueWalk.

Sign up for ValueWalk’s free newsletter here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!