The Biden administration has given final approval to an Alaska oil project in the face of an environmental uproar as it seeks to tread a line between energy security and climate concerns.
ConocoPhillips’ $8bn Willow project in the oil-rich area known as the North Slope can now proceed to drilling after the US Department of the Interior on Monday authorised a slimmed-down version.
Expected to produce about 180,000 barrels a day at its peak, Willow would account for roughly 1.5 per cent of US oil production. The project would help to reinvigorate the oil industry in Alaska, a state where production has slid to less than a quarter of the 2mn b/d produced in boom years of the 1980s.
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