The U.S. Interior Department has canceled seven oil and gas leases in Alaska’s Arctic National Wildlife Refuge.
President Joe Biden, after taking office, issued an executive order calling for a temporary moratorium on activities related to the leasing program and for the Interior secretary to review the program. Haaland later in 2021 ordered a new environmental review after concluding there were “multiple legal deficiencies” underlying the Trump-era leasing program. Haaland halted activities related to the leasing program pending the new analysis.
The corporation obtained the seven leases to preserve drilling rights in case oil companies did not come forward. Major oil companies sat out the sale, held after prominent banks had announced that they would not finance Arctic oil and gas projects.
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