fluffydelusions
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The 19-million-acre Arctic National Wildlife Refuge has been closed to oil exploration since 1980 due to concerns about the impact on the region's caribou, polar bears and other animals.
But Trump, who has promised to flex America's energy muscles, wants to change that. The White House's budget proposal put out this week calls for raising nearly $2 billion in revenue over the next decade by selling oil and gas leases in an oil-rich section of ANWR.
Opening the Alaskan refuge to drilling requires an act of Congress and environmentalists are already vowing fierce opposition. Given the high costs involved, it's not clear Big Oil would even want to drill in the challenging Alaskan terrain in today's world of low oil prices.
But with Republicans in control of Congress, those arguments may not hold much sway.
"It's a real, live thing. For Republicans, it's taking on a Keystone-like rallying cry," said Joe McMonigle, who served as the Department of Energy's chief of staff under President George W. Bush.
McMonigle, senior energy policy analyst at Hedgeye Potomac Research, predicted Congress will approve drilling in ANWR through the budget reconciliation process, which requires a simple majority for approval.
That's what happened in 1995, but the budget package was ultimately vetoed by President Clinton.
http://money.cnn.com/2017/05/25/inv...ng-trump-anwr0539PMVODtopLink&linkId=38011677