Key facts
- Major oil companies did not participate in an auction for drilling leases in Alaska's Arctic National Wildlife Refuge.
- The auction was part of the Trump administration's initiative to promote energy development in the refuge.
- The auction saw very few bidders participate.
The Trump administration has auctioned off drilling rights in the Arctic National Wildlife Refuge. However, the auction saw very few bidders participate. Major oil companies did not participate in an auction for oil and gas drilling leases within Alaska's Arctic National Wildlife Refuge. This auction is a component of the Trump administration's broader strategy to encourage and facilitate energy exploration and production within the ecologically sensitive refuge. The decision by these firms to abstain from the bidding process raises questions about the commercial viability and perceived risks associated with drilling in the region, despite governmental efforts to open it for development.