Ian Brickey, ian.brickey@sierraclub.org
WASHINGTON, D.C. – Today, the Department of the Interior announced it had not received any bids for the upcoming lease sale in the Arctic Refuge. The lease sale, mandated by the 2017 Tax Act, is currently scheduled for January 9.
On the campaign trail, Donald Trump promised to “drill, baby, drill,” if he recaptured the White House. The United States is currently pumping a record amount of oil, with none of it coming from the Arctic Refuge.
This is not the first time a lease sale in the Arctic Refuge has generated minimal interest from oil and gas companies. A 2021 lease sale, conducted by the Trump administration, failed to garner significant interest, producing less than 1% of revenue promised by the 2017 Tax Act. Banks and insurance firms have also expressed reluctance to back drilling projects in the Arctic Refuge, suggesting an industry-wide lack of interest in the prospect of drilling in the Refuge.
In response, Athan Manuel, director of Sierra Club’s Lands Protection Program, released the following statement:
“This lease sale was a complete failure, plain and simple. Big Oil and Gas CEOs recognize that drilling in the Arctic Refuge is all risk and no reward, and it’s opposed by the Gwich'in Nation, who depend on the Refuge for their survival. Companies won’t bid for it, banks won’t fund it, and insurance companies won’t underwrite it. That should make it clear we need to focus on preserving these landscapes for the next generation, not sell them off chasing private profit.”
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.