Obama Ignites Fight With Alaska Over Crude Oil And Nat Gas Exploration

Posted by: : Paul EbelingPosted on: January 25, 2015 Obama Ignites Fight With Alaska Over Crude Oil And Nat Gas Exploration

Obama Ignites Fight With Alaska Over Crude Oil And Nat Gas Exploration

US President Barack Hussein Obama will propose blocking 1.4-M acres of Arctic refuge from Crude Oil and Nat Gas exploration.

The administration plans to propose designating the area of the Arctic National Wildlife Refuge as wilderness, the highest level of federal protection that would ban Crude Oil and Nat Gas drilling.

The move is certain to ignite another fight with Republicans, who have fought for 35 yrs over how to manage what is known as ANWR, or the Arctic National Wildlife Refuge. The vast region has huge petroleum reserves but also provides critical habitat for caribou, migrating birds, polar bears and other wildlife.

“What’s coming is a stunning attack on our sovereignty and our ability to develop a strong economy that allows us, our children and our grandchildren to thrive,” said the new Senate Energy and Natural Resources Committee chairman, Lisa Murkowski, (R-Alaska).

“It’s clear this administration does not care about us, and sees us as nothing but a territory. … I cannot understand why this administration is willing to negotiate with Iran, but not Alaska. But we will not be run over like this. We will fight back with every resource at our disposal.”

Alaska Gov. Bill Walker, an independent, said in a statement that he may be forced to accelerate Crude Oil and Nat Gas permitting on state lands to compensate for the new federal restrictions.

“Having just given to Alaskans the State of the State and State of the Budget addresses, it’s clear that our fiscal challenges in both the short and long term would benefit significantly from increased oil production,” Gov. Walker said. Roughly 40-B bbls of the state’s untapped reserves are already in federal areas where Crude Oil and Nat Gas activity is blocked or restricted, he said.

The announcement, expected Sunday, is likely the 1st in a series of decisions the Obama administration will make this week about Alaska’s Crude Oil and Nat Gas production. The administration also plans to block part of the Arctic Ocean from Crude Oil drilling.

Have a terrific week.


Paul Ebeling



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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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