Alaska oil and gas expert Larry Persily has an idea. He wants the state to consider selling carbon credits for keeping oil and gas in the ground in ANWR.
The state is sending millions of dollars to the federal government to hold the leases as the Biden administration reviews the leasing program.
Persily says that it’s a serious proposal even if it’s not likely to happen.I don’t think Alaska’s political leaders are willing to admit there will be no ANWR development. And like I said, you’d have to go and get the feds to cooperate because the federal law says if you got a lease, you got to produce it or get off the lot. And I think the argument would be not producing it and selling carbon credits does not meet that requirement. But to me, it seems an elegant solution.
to store carbon dioxide. What do you think of these plans to lower emissions while also making money for the state?Well, right now, anything that makes money for the state would be great because we refuse to tax ourselves, and oil is not exactly a growth industry, Willow aside. So I think the governor is proposing these carbon credits to divert attention from the fact his budget doesn’t balance. We do not have a diversified source of revenue. We don’t want to tax ourselves.
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