Alaska Oil Lease Sale Flops, Conservation Groups Celebrate
Anchorage News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Cook Inlets Federal and State Oil Lease Sales Yield Zero Bids: Conservation Groups Celebrate, Utilities Worry
The federal and state oil and gas lease sales in Alaskas Cook Inlet failed to attract any bids, despite promises of increased drilling. The federal sale covered one million acres, while the state sale offered nearly three million acres, with only one tiny bid of $600 for twenty acres. Conservation groups hailed the lack of interest, citing the risks in remote waters and the threat to endangered species. Meanwhile, utilities in Southcentral Alaska face a growing natural gas crunch due to declining production in the Inlet, with plans for imported liquefied natural gas.
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