Feb 29, 2020 - Politics & Policy

Interior Dept. moves to sell oil drilling rights in Alaska wildlife refuge

A polar bear cub in 2014 in the Arctic National Wildlife Refuge in North Slope, Alaska. Photo: Steven Kazlowski/Barcroft Medi via Getty Images

Interior Secretary David Bernhardt said Saturday that the Trump administration is "about to finalize a leasing plan" to sell rights for oil drilling in Alaska's Arctic National Wildlife Refuge, Bloomberg reports.

The intrigue: Some of America's biggest banks are cutting off financing for Arctic oil and gas projects.

Details: The Interior Department completed an environmental study of drilling in the Arctic refuge last year, per Bloomberg. Formal conditions for guiding development on leases sold in the region are still being developed.

Go deeper: A new phase in the Arctic drilling battle

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UBS adds new fossil fuel lending restrictions

Photo: Peter Klaunzer/AFP via Getty Images

UBS said Thursday it will not finance new Arctic offshore oil projects, new coal mines or new oil sands projects.

The big picture: The Swiss banking giant is the latest in a string of banks to announce wider restrictions on fossil fuel finance as investor and activist pressure grows.

Trump to buy oil for nation’s strategic reserves

President Trump. Photo: The Washington Post / Contributor

President Trump will direct the Energy Department to buy oil for the nation’s strategic stockpile to boost prices and help the oil industry reeling after the market’s historic collapse this week.

The big picture: America’s Strategic Petroleum Reserve was created in the 1970s to ensure the U.S. has oil in case of an emergency. Today, Trump is buying oil for the reserve because of an emergency.

National Park Service suspends entrance fees at parks

Photo: Education Images/Universal Images Group via Getty Images

The National Park Service will temporarily suspend entrance fees at all parks that remain open during the coronavirus crisis, Interior Secretary David Bernhardt announced Wednesday.

What he's saying: National parks across the country will help "to recreate, embrace nature and implement some social distancing," Bernhardt said in a press release.

Go deeperArrowMar 18, 2020 - Health