people, the coastal plain of the Arctic National Wildlife Refuge in Alaska is “the sacred place where life begins”. To environmental campaigners, it is a rare habitat that must remain protected, home to caribou, polar bears and migratory birds from six continents. To President Donald Trump, it is a promising source of oil wealth and American energy security. To energy companies, it is a risk not worth taking.
It is a fitting final chapter in Mr Trump’s campaign to unleash drilling on federal lands, characterised by maximum bravura and mixed corporate impact. Companies have happily poured capital into areas with low costs and ample reserves. Chevron, Occidental and Concho Resources, to name a few, have invested in federal property in New Mexico, home to part of the rich Permian shale basin.
That has helped ensure that many federal lands remain untapped, despite Mr Trump’s best efforts. During his presidency thehas offered more than 25m acres of onshore public lands for oil and gas leasing, according to the Centre for Western Priorities, a conservation group. Only 22% of those acres have found takers. Of these, a fifth have been purchased at $2 an acre.
Thank goodness.
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