Heather Richards of E&E News reports on the Willow Project in Alaska.
- Under the Inflation Reduction Act, Congress directed the administration to conduct two oil and gas leases this year.
- The Willow Project is expected to last three decades and generate significant revenue and economic opportunity for Alaskans.
- While opponents of the project believe that we can power the world without fossil fuels, the fact remains that global demand is expected to grow by 50% through 2050 as developing countries move up the economic ladder.
- The U.S. energy sector should play a critical in meeting demand while reducing emissions, as American oil and gas have a greenhouse gas footprint that is 50% lower than fuel that is sourced overseas.
“The decision to greenlight ConocoPhillips’ Willow project comes on the heels of sweeping conservation measures the White House revealed late Sunday night to bar future drilling in the Arctic Ocean and tighten up conservation in the National Petroleum Reserve-Alaska, where the $8 billion Willow project will be located.”
Read the full article here.