3 Reasons Big Oil Might Turn Down Biden’s Arctic Bonanza

Back in March, the Biden administration issued the green light for ConocoPhillips’ (NYSE:COP) long-disputed $8 billion Willow project in Alaska, much to the consternation and chagrin of environmentalists. ConocoPhillips remains the largest producer in Alaska, with extensive holdings in the National Petroleum Reserve-Alaska (NPR-A) and Prudhoe. The development was a 180-degree turnaround from Biden’s actions just two years ago when he placed a temporary moratorium on oil and gas activity in the Arctic National Wildlife…