While many North Slope fields are on the decline, production at Hilcorp’s Milne Point has actually increased by huge amounts. Now the company is acquiring the massive Prudhoe Bay field, raising hopes of a similar revival there.
The case shows how it’s become common for polar bears to disrupt village life in Kaktovik, which sits on an island at the edge of the Beaufort Sea. As climate change melts sea ice and drives the bears ashore, residents say they’ve been under increasing stress.
When the oil tax initiative would appear on a ballot depends on when the Alaska Legislature wraps up its work.
Wells Fargo’s announcement follows similar policies against Arctic drilling adopted by Goldman Sachs and JPMorgan Chase, as well as a string of European banks.
Residents of the Northwest Arctic village of Noorvik, where there is no village public safety officer, say their town is feeling increasingly unsafe.
The first “Blob” decimated fisheries, caused a mass seabird die-off and spurred toxic algal blooms up and down the coast. As Alaska braced for the second heat wave, it disappeared — at least for now.
An Alaska state representative wants the federal government to name one of its new polar icebreakers the Polar Bear, in a nod to a historic American vessel.
One researcher says now is a key time for studies on Arctic Ocean conditions, before hotter temperatures from climate change become the new normal.
Development in the Arctic is booming as the global climate warms and ice melts. But environmental opposition has come along with it, making some big banks like Goldman Sachs and JPMorgan Chase more reticent about investing.
John Lincoln, the Alaska state representative who represents the Northwest Arctic and North Slope boroughs, says he will not run for reelection.