Willow oil development could pave the way for more drilling in the National Petroleum Reserve-Alaska, despite the new environmental protections announced by the Biden administration just before Willow was approved.
that it has made multiple discoveries and is looking for additional opportunities in the reserve, though it has recorded some dry holes.
U.S. Sens. Lisa Murkowski and Dan Sullivan, meeting with reporters, said they have been assured by Biden administration officials that existing leases in the reserve will not be impacted by future restrictions. “I think we are all going to be waiting to see this when it comes out, they say, in the next month or so,” Murkowski said.
Future drilling in the reserve may also be impacted by other issues, he said, such as the willingness of companies to invest in costly and complex Arctic oil projects, which could face more challenges if demand for oil falls as“And there are few projects that will be anywhere near Willow in terms of its size,” said Bledsoe, with the Progressive Policy Institute, a D.C.-based think tank.
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