Ignore the Feds: Marijuana, Illegal Immigration, Guns...Is Oil Next?

State and local governments have ignored federal drug and immigation laws. State and local governments have threatened to ignore gun control efforts. Now comes oil and more broadly, resource extraction.

Oilprice.com: Alaska Won't Let Biden Stop Its Oil Boom

New discoveries in Alaska by an Australian independent could provide hope for bigger oil finds yet to come in the country’s National Petroleum Reserve. Australian independent oil firm 88 Energy has been making strides in its Alaska project in recent weeks announcing an oil discovery in its Merlin-1 exploration well in the southeast National Petroleum Reserve-Alaska. Further testing will show the full extent of the discovery.

88 Energy is predicting a potential 650 million barrels of oil at Merlin-1 based on its current information. This would mean the oil-bearing geologic formation, Nanushuk, is much larger than originally thought.

...Elsewhere in Alaska, its North Slope, which could hold tens of billions of barrels of heavy oil, is being explored. A study, costing $9.6 million, by Hillcorp Alaska and the University of Alaska Fairbanks is testing the potential of injecting a synthetic polymer to help recover the heavy oils.

However, Biden’s suspension of new leases on federal lands and in federal waters threatens new discoveries in the Alaskan region. Even if existing exploration projects prove successful, Biden’s suspension and aims to speed up climate change policies could mean a huge proportion of Alaskan oil remains untouched.

...Alaska was one of 13 states to call for an end to Biden’s pause on new oil leases through a lawsuit this month. The state relies heavily on oil production for employment and its economy as a whole. Alaska has enjoyed $180 billion in oil revenue since its statehood, with one-quarter, or 77,600, of Alaskans employed in the sector.

Alaska Gov. Mike Dunleavy’s issued a statement stating, “We fear that President Biden’s attack on federal oil and gas leasing has only begun, and the State must be involved to protect the interests of all Alaskans in the responsible development of the bountiful natural resources contained within Alaska,” said Dunleavy, in the statement”.