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Home Main Forums Latest Breaking News US petroleum reserve lease sale in Alaska draws just 7 bids

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    US petroleum reserve lease sale in Alaska draws just 7 bids

    US petroleum reserve lease sale in Alaska draws just 7 bids
    Dan Joling, Associated Press

    Updated 7:34 pm, Wednesday, December 6, 2017

    ANCHORAGE, Alaska (AP) — President Donald Trump’s efforts to make the United States “energy dominant” with help from Alaska got off to modest results Wednesday.

    The Interior Department made its largest-ever lease offering within the National Petroleum Reserve-Alaska: 900 tracts covering 16,100 square miles (41,700 sq. kilometers), roughly the size of New Hampshire and Massachusetts combined.

    But oil companies submitted bids on just seven tracts covering 125 square miles (324 sq. kilometers).

    The bids totaled $1.16 million, to be split between the federal government and the state of Alaska. All seven bids were submitted jointly by subsidiaries of ConocoPhillips and Anadarko.

    Summer Fox

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