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Biden Admin OKs Oil Project in Alaska: Bloomberg

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Bloomberg reported, citing its sources, that the US administration decided to support a major oil project in Alaska, despite opposition from environmentalists.

The administration has approved a ConocoPhillips project to drill wells at the Willow oil field, which has an estimated 600 million barrels of oil reserves, sources said.

Bloomberg added that the announcement of the approval of the project by the US authorities will take place next week.

Environmental activists oppose the project, saying it will release 280 million tons of greenhouse gases and contribute to climate change.

Source: Bloomberg.

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