Conoco CEO warns Biden that dooming Alaska oil project would hurt his own agenda

HOUSTON, Texas — The decision is made by the Interior Department ConocoPhillips Willow Project is further hampered by this. Alaska The CEO stated Tuesday that this statement would be detrimental to President Joe Biden’s request for Big Oil production.

Interior’s Bureau of Land Management Willow, the large-scale oil development in Alaska’s north, will be decided this week by ConocoPhillips. ConocoPhillips is refusing to increase production on the North Slope. Recent reports indicate that the White House may intervene and limit drilling.

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The department also stated it was aware “substantial concerns” You can be a part of the project.

Ryan Lance is ConocoPhillips’ chairman and chief executive officer. He said that the company plans to develop Willow mesh in collaboration with Biden. repeated calls This is a targeted campaign for large integrated energy firms to produce more oil and bring down the prices.

“It’s exactly what this administration has been asking our industry to do, lean in, produce more [oil],” Lance spoke Tuesday at CERAWeek, an industry conference held in Houston by S&P Global.

ConocoPhillips has developed a master plan to help Willow develop five Alaskan Petroleum Reserve drill pads and support road infrastructure. This will allow for the production of up to 180,000 barrels/day over the next three decades.

According to the company, it secured the NPR–A leases in late 1990s. It estimated that the proposed project would yield 629 million barrels over the next 30 years.

BLM finalized In February its environmental impact report assessed the project and the impacts it had on the environment. It identified a preferred option that provided three drill pads. There is potential for another one down the line.

ConocoPhillips said that three pads were acceptable. However, they warned that additional reutilization would not be permitted.