Tax Bill Opens Arctic Refuge for Oil; Expect Delay to Follow
(Bloomberg) -- Congress is close to lifting a 40-year-old ban on energy development in Alaska’s Arctic National Wildlife Refuge, but drilling for oil in that frozen wilderness may still be years away as the effort faces exhaustive environmental reviews and likely lawsuits.
It could be a decade or more before any well is drilled, following required environmental scrutiny and permit reviews -- and then the inevitable lawsuits from local communities and environmental groups opposed to any development in that rugged wilderness.
"It’s still an open question about whether drilling will ever happen there," said Matt Lee-Ashley, a senior fellow at the Center for American Progress and former Interior Department official. "It’s hard to image that drilling will occur in the next 10 years -- or ever."
The House voted Tuesday for a tax bill that includes a provision mandating that the Interior Department hold lease sales in the so-called 1002 area of the Arctic Refuge, a coastal portion of the 19-million-acre federally protected wilderness area. The refuge is estimated to contain 11.8 billion barrels of technically recoverable crude.
More: https://www.rigzone.com/news/wire/tax_bill_opens_arctic_refuge_for_oil_expect_delay_to_follow-20-dec-2017-152880-article/
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You never know what they're doing behind the scenes that we're not aware of until it's too late. 