Connect with us

Alaska

Big Oil Flocks to Alaska in Record-Setting Petroleum Lease Sale | OilPrice.com

Published

on

Big Oil Flocks to Alaska in Record-Setting Petroleum Lease Sale | OilPrice.com


The first lease sale in the National Petroleum Reserve-Alaska in seven years became the most successful auction in the area ever, as oil majors bid on hundreds of tracts, signaling they haven’t given up on Alaska’s petroleum resources despite development and court challenges.

This week’s oil and gas lease sale for the National Petroleum Reserve in Alaska, one of five mandated in the next decade under the Trump Administration’s One Big Beautiful Bill Act (OBBBA), drew a record high of $163.7 million in high bids and resulted in 187 leases in total, awarded to companies including ExxonMobil, ConocoPhillips, and a consortium of Repsol and Shell subsidiaries.

The lease sale set a record for Alaska with the most revenue generated ever, the most tracts receiving bids, and the second most acreage sold in a single sale, the Bureau of Land Management said.

The BLM offered 625 tracts across about 5.5 million acres for bid in the sale, revived at the end of last year by the Trump Administration. No lease sales were held in the National Petroleum Reserve in Alaska under President Biden.

Advertisement

In the first sale since 2019, a total of 11 companies submitted bids on 187 tracts covering 1,334,967 acres.

The Trump Administration, the state of Alaska, and the local oil and gas association welcomed the results of the record-setting lease sale as a vote of confidence for Alaska’s role in American energy dominance, while environmentalists vowed to challenge any oil and gas drilling in court, the way they are already doing for the lease program itself.

The Three Companies Rebuilding America’s Rare-Earth Arsenal

“Today’s lease sale underscores the National Petroleum Reserve in Alaska’s vital role in strengthening America’s energy security while fueling economic growth across Alaska,” Secretary of the Interior Doug Burgum said.

Alaska’s Republican Governor Mike Dunleavy noted that the lease sale “reinforces Alaska’s role as a reliable energy producer, supports high-paying jobs for our families, provides additional revenue to the state, and strengthens American energy security at a time when energy security is more important than ever.”

Advertisement

The Alaska Oil and Gas Association and other business organizations in the state said that the “strong participation and unprecedented results underscore renewed investor confidence in Alaska’s North Slope and the state’s long-term resource potential.”  

“The Trump administration deserves credit for helping restore access and certainty in the petroleum reserve, allowing industry to step forward with meaningful commitments,” said Steve Wackowski, president and CEO of the Alaska Oil and Gas Association.

“That confidence is critical to advancing responsible development of Alaska’s vast resources, supporting jobs, sustaining the Trans-Alaska Pipeline System, and strengthening U.S. national security in an increasingly uncertain world.”

The National Petroleum Reserve already hosts one massive oil development— the $9-billion Willow project by ConocoPhillips, which was approved by the Biden Administration in 2023, and is expected to start producing oil in 2029. Peak production is designed to be about 180,000 barrels per day (bpd) of crude.

Going forward, the development of any additional resources in Alaska’s National Petroleum Reserve would not be a fast and easy task. The conditions are harsher than in other areas, while environmentalists have vowed to fight both the latest lease sale and any future oil and gas drilling and development plans.

Advertisement

The Invisible Metals Powering a Trillion-Dollar Economy

Two groups represented by Earthjustice, the Center for Biological Diversity, and Friends of the Earth, restarted litigation last month challenging the lease sales and the underlying management plan, which opens 18.5 million acres within the 23-million-acre Reserve to potential oil and gas drilling and infrastructure.? Three other lawsuits also challenge the lease sale or decisions related to it.

“The results of this sale will spell disaster for the surrounding area,” said Hallie Templeton, Legal Director at Friends of the Earth U.S.?

“We will continue to see the Trump administration in court over its blatant disregard of federal law and complete failure to protect this vulnerable and rapidly shrinking area of our planet.”

By Tsvetana Paraskova for Oilprice.com

Advertisement

More Top Reads From Oilprice.com





Source link

Alaska

Alaska AG Enters Into $800K Settlement With Car Dealer Group (via Passle)

Published

on

Alaska AG Enters Into 0K Settlement With Car Dealer Group (via Passle)


Last month, Alaska Attorney General Stephen J. Cox announced that his office entered into a settlement with a group of Swickard car dealerships, resolving false advertising allegations against the dealers.  As part of the settlement, the dealers agree to pay a civil penalty of $800,000.  

The Alaska AG alleged that the dealers engaged in bait and switch advertising by promoting vehicles that were not actually available for purchase in order to draw customers to its lots.  The AG also alleged that the dealers refused to honor advertised prices, requiring customers to purchase expensive dealer add-ons.  

In announcing the settlement, Cox said, “Car dealers don’t get to advertise one price and charge another—or advertise cars that aren’t really there.  That’s a bait-and-switch, and it’s unlawful. Alaskans already face higher costs than most—this settlement holds Swickard accountable and reinforces that the price you see should be the price you pay.”

Interestingly, the consent decree includes a provision that says that if the dealers engage “in a reckless violation or persistent violations” of Alaska’s consumer protection laws in the future, the court may impose an additional penalty of up to $200,000. 

Advertisement

This enforcement action is yet another example of the heightened scrutiny that car dealer advertising is under right now.  Earlier this month, the Federal Trade Commission settled a similar action.  And, in March, the FTC sent warning letters to nearly 100 car dealers. 



Source link

Continue Reading

Alaska

Palmer high school robotics team makes Alaska history with regional win

Published

on

Palmer high school robotics team makes Alaska history with regional win


ANCHORAGE, Alaska (KTUU) – Palmer’s Colony High School Northern Knights Robotics won the First Robotics Competition (FRC) regional championship on April 4, becoming the first team from Alaska to win the title.

The Northern Knights’ business manager, sophomore Carter Fickes, said that the FRC is one of the most prestigious robotics competitions in the world.

“The game elements are a lot bigger,” he said.

“There’s a lot of more coding challenges as well, because you have what is called an autonomous period where your robot’s running strictly on code, and then you have a teleop period where it’s driver controlled.”

Advertisement

According to Fickes, the regional competition in Minneapolis saw the team paired with and against groups from Minnesota, Illinois, the Czech Republic, Japan, and China.

Teams were required to make “alliances” with each other, before competing together in the quarterfinals.

“Being collaborative with other teams and being open to their strategy is great.” he said.

“We were telling them our main marketing strategy was ‘we’re flexible, and if you want us to do something, we can do it.’”

Fickes told Alaska’s News Source that the competition required teams to program and direct their robots to shoot balls towards targets in order to score points.

Advertisement

The Northern Knights programmed their 85-pound robot to focus on defense, blocking shots from the opposing team.

“Our alliance partners had semi-automatic turrets that could shoot like hundreds of balls in a minute,” he said.

“We were blocking the other robots from getting on the other side and scoring fuel.”

Fickes said this was the first year that their team was selected to be a part of an alliance.

After the quarterfinals, the Northern Knights went on to dominate the rest of the competition.

Advertisement

“We were untouched,” he said.

“We were outscoring them by 200 points, and then the finals matches, I think it ended up being like 400 to 200 or 300.”

By winning both the finals match, as well as the Rookie Team of the Year award, the Northern Knights earned themselves a ticket to the FRC Worlds Competition in Texas beginning on April 29.

“Our mentality is kind of like, ‘we’ve made it this far, so why not try our best?’” he said.

“If we don’t win the whole competition, it’s not the end of the world. A team from Alaska has never done this before, and if we like our goal is to win and to qualify and do good.”

Advertisement

Unlike many other robotics teams across the country, Ficker said the Northern Knights are entirely funded through private donations.

“We built our robot in our team captain’s basement. He let us use his house, and we spent hours upon hours upon hours in his basement building and testing.”

See a spelling or grammar error? Report it to web@ktuu.com



Source link

Advertisement
Continue Reading

Alaska

Money pours into Alaska race as Democrats seek Senate majority

Published

on

Money pours into Alaska race as Democrats seek Senate majority


A U.S. Senate race in Alaska is turning into one of the most expensive in the state’s history as a Democrat tries to flip a seat held by two-term incumbent Republican Dan Sullivan.

The fundraising bonanza comes as the odds of Democrats taking control of the Senate in this year’s midterm elections appear to be improving, according to political analysts.

Democrat Mary Peltola, who held Alaska’s sole House seat from 2022 to 2025, raised almost $9 million in the first quarter of 2026, Politico reported. It’s the largest first-quarter stockpile in Alaska political history, according to her campaign. 

“I’m so grateful for the support we’ve received from every single borough and census area across our state, and it’s that support that will bring us to victory this November,” Peltola said. 

Advertisement

Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.

Point phone camera here

GOP incumbent also has millions

Sullivan, who’s seeking a third term, brought in $2.1 million in the first quarter and has $7.5 million of cash on hand, Politico reported.

“This historic support sends a clear message: Alaskans know that Dan delivers,” Sullivan campaign spokesperson Nate Adams said in a statement.

Advertisement

In 2020, Democrat Al Gross outspent Sullivan but still lost by 13 points.

Alaska is a heavily Republican state. President Donald Trump carried the state by 10 to 15 points in each of the last three elections. 

However, Democrats are optimistic about a recent poll from Alaska Survey Research. The survey showed Peltola with a positive rating of 48.5%, compared to Sullivan’s 40.7%.

Dozens of US Senate seats in play

Thirty-five U.S. Senate seats are up for grabs in November, with Republicans defending 22 and Democrats, 13. 

With the GOP holding a current majority of 53-47, Democrats need to flip four seats to take control of the upper chamber for the remaining two years of Trump’s second term.

The Cook Political Report reported Monday that “the Senate battlefield is shifting in Democrats’ favor.” However, securing the magic number of 51 is still a “tall order.” 

Cook rates the Peltola-Sullivan race as “leans Republican.” Eighteen other races are currently rated as either “likely Republican” or “solid Republican.” 

Advertisement

The nonpartisan newsletter shows three races in the “leans Democrat” category. One other is “likely Democrat,” and nine are listed as “solid Democrat.” 

With Election Day more than six months away, three races — in Maine, Michigan and Ohio — are listed as toss-ups.

National Democrats see Peltola as a key to winning a majority in the Senate.

Politico said super PACs supporting Democrats have already spent more than $3 million in ad buys in Alaska, while the Republican’s Senate Leadership Fund has indicated it intends to spend $15 million on the race for Sullivan.



Source link

Advertisement
Continue Reading

Trending