The Trump administration and conservatives in Congress want to sell out America’s last great wilderness as part of a plan to cut federal tax rates for wealthy people and corporations, according to a new column from the Center for American Progress.
A measure expected to be tucked into the upcoming tax bill would open the Arctic National Wildlife Refuge to oil drilling to help pay for the tax cuts. But while drilling proponents say it would result in $1 billion or more in new revenue, a CAP analysis finds that offering oil and gas leases in the Arctic Refuge likely would yield no more than $37.5 million in revenue over the next 10 years.
“Congress should keep the Arctic National Wildlife Refuge free of oil rigs and as wild as it has always been,” said Matt Lee-Ashley, a co-author of the column. “And despite lots of hot air from drilling boosters, selling the Arctic Refuge for pennies on the dollar wouldn’t even pay for President Trump’s own personal tax cut.”
The column also notes that two-thirds of Americans oppose drilling in the area, according to a poll conducted by Hart Research Associates. And energy markets don’t need or want Arctic Refuge oil, since production of oil from shale in the lower 48 states is expected to exert downward pressure on oil prices for years to come.
Read the column: “Arctic National Wildlife Refuge 101: Protecting America’s Last Great Wilderness from being Sold Out for a Congressional Tax Scam,” by Matt Lee-Ashley and Jenny Rowland.
For more information, please contact Sam Hananel at [email protected] or 202-478-6327.