Low Oil Prices Dim GOP Bid for Budget Bonanza in Arctic
- Estimates ANWR auction would raise $1 billion called ‘fantasy’
- Oil companies likely to steer toward safer bets in Alaska
The Arctic National Wildlife Refuge.
Source: USFWThis article is for subscribers only.
Congressional Republicans counting on a $1 billion windfall from selling oil-drilling rights in the Arctic National Wildlife Refuge to help pay for tax cuts may be in for a disappointment.
Data from previous Arctic oil lease sales suggest the U.S. is likely to collect less than a fifth of that billion-dollar goal over the next decade-- about $145.5 million -- from auctioning off territory in the sprawling northeast Alaska refuge where caribou calve and polar bears roam.