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Thu Dec 7, 2017, 12:12 AM

US petroleum reserve lease sale in Alaska draws just 7 bids

Source: Associated Press

Dan Joling, Associated Press
 Updated 7:34 pm, Wednesday, December 6, 2017

ANCHORAGE, Alaska (AP) — President Donald Trump's efforts to make the United States "energy dominant" with help from Alaska got off to modest results Wednesday.

The Interior Department made its largest-ever lease offering within the National Petroleum Reserve-Alaska: 900 tracts covering 16,100 square miles (41,700 sq. kilometers), roughly the size of New Hampshire and Massachusetts combined.

But oil companies submitted bids on just seven tracts covering 125 square miles (324 sq. kilometers).

The bids totaled $1.16 million, to be split between the federal government and the state of Alaska. All seven bids were submitted jointly by subsidiaries of ConocoPhillips and Anadarko.

Read more: http://www.chron.com/news/us/article/US-petroleum-reserve-lease-sale-in-Alaska-draws-12411520.php

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Reply US petroleum reserve lease sale in Alaska draws just 7 bids (Original post)
Judi Lynn Dec 2017 OP
n2doc Dec 2017 #1

Response to Judi Lynn (Original post)

Thu Dec 7, 2017, 06:01 AM

1. Crony Capitalism at its best!

Why bid on more that the 'best' tracts? They can always go back for more! And why have any competition, it just lowers profits! The Trump Way!

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