The Biden administration on Friday will hold a sale of oil and gas drilling rights off the coast of Alaska, the first federal auction in the region in more than five years.
The sale of nearly 1 million acres in the Cook Inlet is among the concessions to the oil and gas sector included in President Joe Biden's signature climate change law, the Inflation Reduction Act .
The sale will be streamed live on the Bureau of Ocean Energy Management website, with bids beginning at 10:00 local time in Anchorage . BOEM oversees offshore energy development for the Interior Department. Last week, five environmental groups sued the administration to block the sale, alleging it had not adequately considered the auction's impact on climate change as well as the consequences for threatened species such as the Cook Inlet beluga whale and humpback whales.
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