Trump keeps trying to auction off this US property for oil drilling. No one is buying.
CNN • • nation
Key Points:
- A federal lease sale for about 1 million acres of drilling territory in Alaska’s Cook Inlet received no bids, reflecting declining industry interest due to depleted reserves and high drilling costs.
- The state of Alaska also held a separate auction for nearly 3 million acres in the area, with only one bid submitted for a small 20-acre parcel at $600.
- Despite low industry enthusiasm, the federal government plans to hold five more lease sales in Cook Inlet through 2032, as mandated by recent congressional and Trump-era tax legislation.
- Alaska’s Republican senators expressed disappointment but emphasized continued efforts to encourage drilling to address declining local gas production and rising energy costs.
- Environmental groups praised the lack of bids, viewing it as
