The Biden administration is set to cancel oil and gas leases in an Alaskan federal wildlife refuge that were previously awarded to a state agency, marking a significant setback for U.S. energy production.
Reports of this plan emerged from the U.S. Interior Department, as noted by various news agencies, including Reuters and The New York Times. The Arctic National Wildlife Refuge in question holds substantial energy resources, with an estimated 11 billion barrels of oil.
The Alaska Industrial Development and Export Authority (AIDEA) had obtained seven leases in this refuge during the Trump administration, prior to President Joe Biden’s inauguration.