ANWR Oil Sale Was a Bust, Lower 48 a Different Story

ANWR Oil Sale Was a Bust, Lower 48 a Different Story

The sale of oil and gas drilling rights in the Arctic National Wildlife Refuge (ANWR) was supposed to bring in upwards of $1 billion, but in the end, the first of the auctions mandated by Congress at the urging of President Trump brought in only $14M.

Why This Matters:  Banks won’t underwrite Arctic drilling, so it is unclear those ANWR leases will be drilled ever.

Continue Reading 507 words
Interview of the Week:  Adam Kolton of the Alaska Wilderness League click button

Interview of the Week: Adam Kolton of the Alaska Wilderness League

This week, just in time for Thanksgiving, we talk with Adam Kolton, the Executive Director of the Alaska Wilderness League about the Arctic National Wildlife Refuge, Arctic Indigenous Communities, and conserving Alaskan wilderness.  Watch the entire interview.  Here are a few highlights: On the Arctic National Wildlife Refuge: “This is the area where hundreds of […]

Continue Reading 245 words
Trump’s In A Rush to Drill in Alaska Even When It Risks Iconic Species

Trump’s In A Rush to Drill in Alaska Even When It Risks Iconic Species

This week, the President’s Interior Department moved forward with a plan to allow oil and gas drilling in one of the most pristine areas remaining on the planet — the Arctic National Wildlife Refuge.  The Refuge is home to numerous iconic wildlife species such as caribou, polar bears, waterbirds, arctic foxes, black and brown bears, […]

Continue Reading 151 words
Energy Secretary Takes a Swipe at Big Banks That Won’t Invest In Arctic Drilling

Energy Secretary Takes a Swipe at Big Banks That Won’t Invest In Arctic Drilling

The Secretary of Energy stunningly accused the major financial institutions that refuse to now invest in Arctic oil and gas exploration of discrimination against the oil and gas industry and likened the decision to the banks’ refusal in the past to make loans to minorities.

Why This Matters:  Arctic drilling has been fought due to its environmental toll since the 1960s,  In 1980, Congress decreed that no exploratory drilling or production could occur without further congressional action — and it stayed that way until President Trump demanded authority to lease the land for drilling, despite the ample domestic supply of oil and gas.

 

Continue Reading 565 words
Our Hero of the Week: Bernadette Demientieff, ED of the Gwich’in Steering Committee

Our Hero of the Week: Bernadette Demientieff, ED of the Gwich’in Steering Committee

This week there was a momentous piece of good news for conservation — one of the largest and most powerful and influential U.S. banks, Goldman Sachs, said it will not fund projects that drill for oil and gas in the Arctic National Wildlife Refuge.  This is huge — between 2016 and 2018, Goldman Sachs invested […]

Continue Reading 281 words
Goldman Sachs Will Not Fund Arctic Drilling, Pledges $750B to Fight Climate Change

Goldman Sachs Will Not Fund Arctic Drilling, Pledges $750B to Fight Climate Change

In a move that drew praise from leading environmental organizations, the investment bank Goldman Sachs announced a sweeping new “environmental policy framework” on Sunday, with major commitments to fund climate change resilience and adaptation projects, clean energy development, and to more thoroughly analyze fracking projects before funding them (though it does not rule them out entirely).

Why This Matters:  This puts Goldman Sachs well in the lead among U.S. banks for making a commitment to both climate change and environmental protection generally.

Continue Reading 469 words

Want the planet in your inbox?

Subscribe to the email that top lawmakers, renowned scientists, and thousands of concerned citizens turn to each morning for the latest environmental news and analysis.