Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Investing

New US Interior Secretary Moves to Expand Alaska Energy Development

by admin February 7, 2025
February 7, 2025
New US Interior Secretary Moves to Expand Alaska Energy Development

Former North Dakota Governor Doug Burgum took the oath of office to become the 55th US secretary of the interior on Saturday (February 1), vowing to prioritize domestic energy expansion, particularly in Alaska.

On his first day in office, Burgum wasted no time in advancing the administration’s energy agenda, signing six Secretary’s Orders designed to bolster US energy independence and expand resource development, particularly in Alaska.

“Today marks the beginning of an exciting chapter for the Department of the Interior,” Burgum said in a Monday (February 3) press release. “We are committed to working collaboratively to unlock America’s full potential in energy dominance and economic development to make life more affordable for every American family while showing the world the power of America’s natural resources and innovation.”

His swift actions align with the Trump administration’s revitalized efforts to reverse environmental and regulatory policies enacted under Joe Biden. Among the most consequential of his directives is Secretary’s Order 3422, which implements Executive Order 14153, titled “Unleashing Alaska’s Extraordinary Resource Potential.”

This order prioritizes resource extraction in Alaska, and rescinds previous restrictions that limited oil, gas and mineral production in the state. Specifically, Secretary’s Order 3422 directs the Department of the Interior to maximize natural resource production on both federal and state lands in Alaska. This includes oil and gas extraction and timber harvesting.

A key component of this shift is the revocation of Secretary’s Order 3401, which was issued in June 2021. It placed a temporary moratorium on activities in the Arctic National Wildlife Refuge Coastal Plain Oil and Gas Leasing Program.

The new order reinstates Secretary’s Order 3352, originally issued in May 2017, which prioritized energy development in the National Petroleum Reserve-Alaska (NPR-A). The reversal means that federal agencies must immediately reevaluate existing restrictions on leasing and permitting for oil and gas extraction in Alaska.

Additionally, Burgum’s order requires a review of all punitive restrictions that have hindered energy development in the state. Agencies must submit plans within 15 days outlining how they will execute the administration’s energy goals.

By reinstating Secretary’s Order 3352, the interior department is once again prioritizing the NPR-A for oil and gas leasing. The NPR-A is one of the largest oil-rich federal land reserves in the US, containing an estimated 8.7 billion barrels of recoverable oil and 25 trillion cubic feet of natural gas, according to government assessments.

Burgum’s order also emphasizes Alaska’s potential as a major liquefied natural gas (LNG) hub. The order includes provisions for fast-tracking pipeline infrastructure and transportation networks to support the state’s LNG industry.

To facilitate these efforts, the order mandates expediting the permitting and leasing process for new energy and natural resource projects in Alaska, and prioritizing infrastructure projects that are necessary for transporting resources.

The directive is expected to accelerate investments in Alaska’s energy sector, encouraging private companies to expand operations in the North Slope, the Cook Inlet and offshore areas.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Chipotle downplays looming Trump tariffs, says only half of its avocados are from Mexico
next post
How to Invest in Potash Stocks

Related Posts

Dec24 Appendix 5B

January 29, 2025

BPH Energy LimitedPEP11 Update Federal Court Judicial Review

February 13, 2025

Brunswick Exploration Drills 36 Meters at 1.51% and...

April 25, 2025

Lahontan Gold: Near-term Gold Production Pathway in the...

March 5, 2025

High Grade Results Continue in Sandstone Drilling

May 8, 2025

StrategX Announces Executive Change

April 2, 2025

Crypto Market Recap: $TRUMP Token Soars as President...

April 27, 2025

4 Biggest Cybersecurity ETFs in 2025

April 29, 2025

Westport Announces Annual General and Special Meeting and...

April 18, 2025

Heritage Mining Ltd. Announces Closing of the Second...

April 23, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 4

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved