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Biden approves Alaska oil drilling project
20-03-2023 10:35
Biden approves Alaska oil drilling project
Biden approves Alaska oil drilling project

The US government approved an oil drilling plan in Alaska called Williow, led by Alaska’s largest crude oil producer ConocoPhillips. This company is engaged in developing raw material deposits in the country's northwestern areas. The $8 billion Willow project may become one of the most expensive ones in the US commodity sector. The plan allows ConocoPhillips to develop three well pads that would produce about 600 million barrels of oil and 180,000 barrels per day or 1.6% of the US oil production capacity. At the same time, the plan raises woes about carbon emissions which may lead to a natural disaster. Drilling will generate around 278 million metric tonnes of carbon emissions. Therefore, environmental groups have long condemned the plan. Climate activists have rallied against the Willow project, demanding to stop it as new drillings may severely harm the environment and boost climate change in the region. Besides, the plan undermines Biden’s administration pledge to combat climate change and reduce greenhouse gas emissions. Joe Manchin, the Senate Energy and Natural Resources chairman, believes that US raw materials producers can fully replace Russian oil and gas in the European energy market. Manchin noted that each country would decide whether to allow Russian energy imports or not. At the same time, Joe Biden is likely to limit oil drilling in 16 million acres (6.5 million hectares) in Alaska and the Arctic Ocean. Initially, the plan will bar drilling in 3 million acres (1.2 million hectares) of the Arctic Ocean. In the second part of the plan, the US president's administration will develop new drilling regulations for more than 13 million acres (5.3 million hectares) in Alaska.

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