Oil giants are expected to sit out the bidding, which would mean low lease prices and measly royalties for the government.
The debate over drilling in Alaska’s Arctic National Wildlife Refuge has returned to Washington, this time tied to the fast-moving tax bill on Capitol Hill. Bill supporters hope that opening up the arctic to more federal drilling leases could generate $1 billion in federal revenue. But some market projections put the amount at far less […]
Is it even achievable?
Oil companies, such as Royal Dutch Shell and ConocoPhillips, are largely walking away from many of their Arctic leases.