The Trump administration is moving to rescind the Biden-era drilling ban on 13 million acres of the National Petroleum Reserve in Alaska's Arctic region.
During a press release on Thursday, the administration announced that it would issue a final rule on Friday to rescind the ban on drilling in the area.
The rule is expected to be published in the National Register on Friday.
The petroleum reserve is a 23-million-acre property that was set aside by President Warren Harding in 1923 to serve as an emergency supply for the Navy.
However, the land has not been fully developed for drilling because of environmental reasons, as Democrat presidents have blocked it.
Biden's reason for blocking drilling there was to protect the environment, but Trump touted help for the local economy and improving national security by producing more of our own energy.
“By rescinding the 2024 rule, we are following the direction set by President Trump to unlock Alaska’s energy potential, create jobs for North Slope communities and strengthen American energy security,” Interior Secretary Doug Burgum said in a written statement.
The proposal to rescind the order happened earlier this year; Friday's action just makes the proposal permanent.
Harvard Law School estimated that the National Petroleum Reserve could produce about 590 million barrels of oil over 30 years.
It certainly wouldn't provide all of U.S. energy usage, which is currently about 20 million barrels a day.
It is a lot of oil, though, and it helps meet Trump's goal of increasing our energy independence.
As of 2023, the U.S. is a net exporter of oil, but we do import some of our oil because it is a different type than we can produce ourselves.
In addition, energy usage is expected to increase to support the adoption of AI in various areas of society.
This will include oil to power electric plants and power the grid for the foreseeable future, and Trump is being realistic about these needs.
