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Political Issues Surrounding The Willow Project
Political Issues Surrounding The Willow Project
Political Issues Surrounding The Willow Project
2. Why has a president who has embraced strong action on climate change
just approved a project dubbed a "carbon bomb"?
It's because Willow is all about
However, a surge in oil prices after the outbreak of the Russia-Ukraine conflict
forced the Biden administration to return to the oil industry and under pressure
from the courts last year, he authorised plans to sell new drilling leases. Similar
pressure from the courts could be at play again.
The Biden administration is obviously aware that, from a purely climate
perspective, the project can't really be justified.
Another reason why President Joe Biden accepted the Willow project is the
huge profits that this project brings. It is estimated that it can extract more than
600 million barrels of oil from the Alaska area over 30 years, equivalent to
200,000 barrels of oil per day. According to estimates by the Bureau of Land
Management, the Willow project will likely generate between $8 billion and
$17 billion in revenue, a surprising number!