The next stage in the Arctic drilling saga

The next stage in the Arctic drilling saga

Welcome back to Energy Source. Two things to start:

Our first item today takes a closer look at the ANWR news and asks where the saga goes from here.

Our second looks at the case for shale oil and gas producers to clamp down on emissions amid rising investor pressure “” and the novel proposal that the industry should set up its own offset market to drive this.

Thanks for reading. Please get in touch at [email protected] “” Myles

Biden puts Arctic refuge development on ice

The Biden administration on Tuesday suspended controversial leases to drill in the Arctic National Wildlife Refuge that had been hurried through in the final days of the Trump White House.

The move stalls any development of the pristine reserve for oil and gas production until an environmental review is carried out “” potentially setting the stage for an outright ban down the line.

Joe Biden had promised on the campaign trail to halt the development of ANWR. His climate adviser Gina McCarthy said Tuesday's move was an "important step forward“ towards fulfilling that pledge.

Why it doesn't matter

As ES has noted before, the ANWR drilling question is more political theatre than a serious stand-off between the oil industry and environmentalists.

No company of any