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The Willow project is one of Biden's biggest bets for the future of the US oil and natural gas market. ConocoPhillips is now preparing for future investments in exploration of the Alaska reserve.
The current president of the United States, Joe Biden, granted the necessary authorization for a giant oil exploration project in the Alaska region. This is the Willow project, by ConocoPhillips, whose authorization is up to date and will soon begin. According to the company, the project can produce up to 180.000 barrels of oil per day, in addition to generate more than 2500 jobs for residents of the region in the coming years.
Biden and the US Government invest in the future of the oil and gas sector and approve the Willow project in Alaska reserves
The Biden Administration is keeping an eye on the main opportunities for the expansion of the oil and natural gas segment in the United States for the coming years. For this week, the president approved yet another giant project in the field, Willow, by the company ConocoPhillips.
The enterprise will be installed in Alaska, for the exploration of oil reserves in the region, aiming to take advantage of the high productive potential of the area.
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Although the measure goes against environmentalist ideals, which warn of the environmental risks of the project, Biden sees a great opportunity for the US economy.
Willow's approval by the Bureau of Land Management would allow for three drill sites, which would include up to 199 wells in total. ConocoPhillips President and Chief Executive Ryan Lance highlighted this as the right decision for the country's future.
Biden's campaign plan called for a halt to drilling new public areas for oil exploration. For this reason, environmentalists in the United States are criticizing the decision of the country's current ruler.
Despite this, the nation's government is still aiming to take advantage of Alaska's oil reserves. According to the Willow project, the venture can generate a production of 180.000 barrels of oil per day.
In addition, employment opportunities will be the main focus of the US government, as the project is expected to generate more than 2500 jobs for residents of the region.
Biden Government decision on ConocoPhillips oil exploration project generates controversy in the US country
While it may seem like good news for the country's economy, Biden's decision on the Willow project has generated controversy among the nation's representatives.
Senator Lisa Murkowski, (R-Alaska), welcomed the decision, saying it will be of great benefit to the country.
“This will not only mean jobs and revenue for Alaska, but much-needed resources for the country and for our friends and allies,” said Murkowski. The government has heard the voices of Alaska. They listened to the delegation as we pushed for energy security and national security,” she said.
However, environmental activists who promoted a StopWillow campaign on social media, are strongly criticizing the stance of the country's current government.
Earthjustice president Abigail Dillen said the country is too far behind in the climate crisis to develop environmental exploration ventures.
Despite this, ConocoPhillips will continue with the oil exploration project in Alaska during the Biden Administration.
