Energy

All oil development work in the Arctic National Wildlife Refuge is effectively stalled until the new review process concludes.

The sale was required in this year’s Inflation Reduction Act. An industry group said it could lead to oil and natural gas the world still needs. A conservation group said it will threaten wildlife and the climate.

Families could, for example, buy a panel in a solar farm, helping lower their future electric costs as their investment is paid off.

Anchorage’s major home heating and electric utilities have hired consultants to examine imports of liquefied natural gas

The third-quarter announcement comes amid criticism, including from President Joe Biden, that companies are making outsized profits while gasoline prices are high.

The summit was convened by Rahm Emanuel, the U.S. ambassador to Japan. Officials from Alaska met with Japanese energy and policy representatives. Analysts said the Alaska LNG project faces stiff competition.

Analysis: Congress’ action, spurred by U.S. Sen. Lisa Murkowski, prompted conservation groups to launch a successful campaign to block big banks and insurers from backing drilling not just in the refuge, but anywhere in the Arctic.

The Alaska Native corporation says it could add perhaps a dozen more turbines, and provide power at a much lower cost than the first phase in 2012, thanks to technological improvements and pre-existing infrastructure.

A renewable energy expert in Alaska said the proposals, if they can be fully built, could fulfill over 20% of the current power demand from Homer to Fairbanks.

Bill Armstrong said in an interview there is no guarantee that the prospect, located southwest of Pikka and Willow oil fields, also holds a colossal cache of oil. “It’s not a sure thing,” he said.

Laws and regulations after the Exxon Valdez ran aground in 1989 in Alaska account for much of the difference in tanker spills, one official said.

The governor has appointed Greg Wilson to replace longtime commissioner Dan Seamount.

Central banks around the world stepped up their fight against inflation at the cost of growth that fueled oil prices.

The Biden administration plans to open bids by Dec. 30. The requirement is part of the Democratic compromise climate legislation passed last month.

Work on ConocoPhillips’ Willow prospect, which could yield 180,000 barrels of oil daily, could being this winter if approved quickly.

Improvements to a downtown Anchorage building should bring energy cost savings that more than cover the cost of the loan.

The groups contend a federal agency did not consider the full effects of greenhouse-gas emissions associated with the potential 1.6 billion barrels of oil the Peregrine prospect is estimated to contain.

Knik Arm Services, a small real estate and leasing firm, has backed out, leaving just the Alaska Industrial Development and Export Authority holding leases in ANWR. The departure adds to questions about the prospects for oil drilling in the refuge’s 1.6 million-acre coastal plain.

The field is considered one of the largest conventional discoveries of oil in the U.S. in decades. Global oil and gas companies Santos and Repsol announced they will invest $2.6 billion in the project.

The 18,000-gallon spill in Point Lay has been contained, according to the Alaska Department of Environmental Conservation.

BP’s second quarter 2022 results were driven by the Ukraine war and a surge in global demand.

The measure proposes reinstating a recently canceled Cook Inlet oil and gas lease sale. It also would not stop oil and gas drilling in the Arctic National Wildlife Refuge.

Congress and the EPA have largely failed to regulate methane “super emitters.” That leaves it up to producers — in some cases the very companies that have been fighting regulations — to cut emissions on their own.