Selling something is better than nothing
March 8, 2023
The state wasn’t concerned as much about future profits as it was asserting and protecting Alaska’s rights to see oil flow from lands within its borders when it paid millions of dollars for federal leases in the Arctic National Wildlife Refuge.
It was a matter of principle.
When the Trump administration rushed to put up the leases for bid in the final days of his presidency in January 2021, the Alaska Industrial Development and Export Authority pulled out its checkbook and made sure to stake its claim to some of the acreage — just in case no one else bid.
Asserting that claim has cost...