U.S. President Joe Biden intends to limit the massive oil drilling project in Alaska. Biden will prevent or limit crude oil drilling on 16 million acres (6.5 million hectares) in Alaska and the Arctic Ocean.

For starters, drilling on 3 million acres (1.2 million hectares) in the Arctic Ocean would be banned. By doing so, the current presidential administration would shut out the rest of federal waters from oil exploration.

In the second part of the program, the administration will develop new operating rules for more than 13 million acres (5.3 million hectares) on the National Petroleum Reserve-Alaska. It is noted that this is a very impressive area.

At the same time, on March 11, it was reported that U.S. authorities supported “one of the most expensive” drilling projects in Alaska. The cost of the project is estimated at $ 8 billion. According to this indicator, the development of deposits in Alaska will be one of the most expensive U.S. commodity projects in this area.

Oil production in Alaska is one of the key industries of this American state. Since the 1960s, Alaska has become known for the presence of significant oil and gas reserves in its underground fields.

The most famous fields are Prudhoe Bay, Kuparuk, and Alpine. Prudhoe Bay is the largest field in North America and one of the largest in the world. Oil and gas have been produced here since 1977 with a strong infrastructure including drilling rigs, pipelines and other facilities.

However, oil production in Alaska is not safe and poses risks to the environment. The operation of oil and gas fields is monitored and measures are taken to minimize risks and impacts on the environment.

Earlier we reported that the analyst explains why the U.S. wants to approve the rules of the game with oil traders.