The Biden administration on Friday will hold a sale of oil and gas drilling rights off the coast of Alaska, the first federal auction in the region in more than five years.
The offer of nearly 1 million acres in the Cook Inlet was among the concessions to the oil and gas sector included in President Joe Biden's signature climate change law, the Inflation Reduction Act .
The Interior Department's Bureau of Ocean Energy Management announced that Hilcorp offered the only bid for a block offered on Friday for $63,983. BOEM oversees offshore energy development for the Interior Department. "This damaging sale never should have happened in the first place, and we’ll continue challenging it in court and fighting to preserve beautiful Cook Inlet," said Kristen Monsell, oceans legal director at the Center for Biological Diversity, said on Friday.
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