AI-Powered Cameras + Smart Glass = A Potential Nasdaq Sleeper

This recent Nasdaq IPO is quietly making waves in two massive markets: AI-powered Advanced Driver Assistance Systems (ADAS) and smart glass technology and this company is poised for substantial growth in the two multi-billion-dollar markets.

Alaska political leaders hope to see Trump undo restrictions on oil drilling

BECKY BOHRER
November 16, 2024

JUNEAU, Alaska (AP) -- President-elect Donald Trump promised repeatedly during his campaign to expand oil drilling in the U.S., which is good news for political leaders in Alaska, where oil is the economic lifeblood and many felt the Biden administration has obstructed efforts to boost the state's diminished production.

A debate over drilling on federal lands on Alaska's petroleum-rich North Slope will likely be revived in the coming months, particularly in the Arctic National Wildlife Refuge, which environmentalists have long sought to protect as one of the country's last wild places.

The question of drilling on the refuge's coastal plain, as Trump sought to do during his first term, also divides Alaska Native communities. Some welcome the potential new revenue while others worry about how it will impact wildlife in an area they consider sacred.

What is the Arctic National Wildlife Refuge?

The largest wildlife refuge in the country covers an area of northeast Alaska roughly the size of South Carolina. It boasts a diverse landscape of mountains and glaciers, tundra plains, rivers and boreal forest, and is home to a variety of wildlife including polar bears, caribou, musk ox and birds.

The fight over whether to drill in the refuge's coastal plain along the Beaufort Sea goes back decades. Drilling advocates say development could create thousands of jobs, generate billions of dollars in revenue, and spur U.S. oil production.

While the U.S. Bureau of Land Management has said the coastal plain could contain 4.25 billion to 11.8 billion barrels of recoverable oil, there is limited information about the amount and quality of oil. And it's unclear whether companies will want to risk pursuing projects that could become mired in litigation. Environmentalists and climate scientists have pushed for a phase-out of fossil fuels to avert the worst consequences of climate change.

The refuge is east of the oil fields in Prudhoe Bay and the National Petroleum Reserve-Alaska, where the Biden administration approved the controversial Willow oil project but also made about half the petroleum reserve off-limits to oil and gas leasing.

Have there been efforts to drill in the refuge?

An exploration well was drilled in the 1980s on lands where Alaska Native corporations held rights, but little information has been released about the results.

Still, opening the coastal plain to drilling has been a longtime goal for members of Alaska's congressional delegation. In 2017, they added language to a tax bill mandating two oil and gas lease sales by late 2024.

The first sale took place in the waning days of the last Trump administration, but President Joe Biden quickly called on Interior Secretary Deb Haaland to review the leasing program.

That led to the cancelation of seven leases that had been acquired by the Alaska Industrial Development and Export Authority, a state corporation. Smaller companies gave up two other leases. Litigation is pending over the canceled leases.

The Biden administration recently released a new environmental review, ahead of the deadline for the second required sale. It proposes offering what the Bureau of Land Management said would be the minimum acreage the 2017 law allows -- a proposal Alaska's Republican U.S. senators cast as a mockery of the law meant to encourage exploration.

What do Alaska Natives want?

There are sharp divisions.

Leaders of the Iñupiaq community of Kaktovik, which is within the refuge, support drilling. Gwich'in officials in communities near the refuge have said they consider the coastal plain sacred. Caribou they rely on calve there.

Galen Gilbert, first chief of Arctic Village Council, said the refuge should be off-limits to drilling. Arctic Village is a Neets'aii Gwich'in community.

"We don't want to bother anybody. We don't want anything. We just want our way of life, not only for us, but for our future generations," Gilbert said.

Leaders in Kaktovik have vowed to fight any attempt by the U.S. Fish and Wildlife Service to designate the lands as sacred. Josiah Patkotak, mayor of the North Slope Borough, which includes Kaktovik, said in an October opinion piece that the land "has never been" Gwich'in territory.

"The federal government must understand that any attempt to undermine our sovereignty will be met with fierce resistance," he wrote.

Oil is vital to the economic wellbeing of North Slope communities, said Nagruk Harcharek, president of Voice of the Arctic Iñupiat, a nonprofit advocacy group whose members include leaders from that region. Responsible development has long coexisted with subsistence lifestyles, he said.

After Trump's election, what might change?

In a video posted on X by Republican Gov. Mike Dunleavy, Trump said he would work to ensure a natural gas pipeline project long sought by state political leaders is built. The project, opposed by environmentalists, has floundered over the years due to changes in direction under various governors, cost concerns and other factors.

While voters "might not have been head over heels" for Trump, "they appreciated that his policies, when they come to resource development, are clearly policies that work to benefit an economy like Alaska's," Trump critic U.S. Sen. Lisa Murkowski told reporters.

"So I would anticipate that we would see, again, a return to greater economic opportunities through resource development," she said.

Dunleavy said Trump could undo restrictions imposed by the Biden administration on new oil and gas leasing on 13 million acres (5.3 million hectares) of the petroleum reserve. Harcharek's group sued over the restrictions, arguing that the region's elected leaders had been ignored.

Erik Grafe, an attorney for Earthjustice in Alaska, said the petroleum reserve was not set aside "to get oil out at all costs." Other important resources must be considered and afforded protections under the law, he said.

"Oil is not the future and it can't be," Grafe said. "The state needs to start thinking of a Plan B, post-oil."

Continue Reading...

Popular

2 bodies are found in the landing gear of JetBlue plane at Florida airport

FORT LAUDERDALE, Fla. (AP) — Two bodies were found in the landing gear compartment of a JetBlue aircraft at a South Florida airport, authorities said.

Canadian Official Claps Back At Trump's 51st State Comments, Offers To Buy These Two American States

Canadian officials say their country isn't for sale and suggest Donald Trump should sell them two states instead of trying to make its neighbor a state.

The Most Disruptive Technology in Human History - Ad

A brand new technology is lining up to be more disruptive than the internet or even today's most advanced artificial intelligence. Those who prepare now could see massive stock gains. Those who don't could find themselves on the wrong side of history.

The Trump company is not banning private foreign deals, a break with its first term policy

NEW YORK (AP) — The Trump family business released a voluntary ethics agreement Friday that marks a significant departure from Donald Trump's first term by allowing it to strike deals with private foreign companies.

How to Ride America's $1 Trillion Robot Revolution - Ad

Like computers before them, robots are evolving at lightning speed, transforming the world, and creating a wave of new millionaires. As Bill Gates says, the uses for robots will be "almost limitless." That's why he's pouring millions into this new technology. Now you can join him in tapping this unstoppable trend for 5, 10, even 15 times your money -- maybe a whole lot more...

Jimmy Carter's Funeral: 5 Living Presidents Attend; Family, Colleagues Share Warm, Humorous Stories

Jimmy Carter's state funeral united five living U.S. presidents, including Trump and Obama. Carter was remembered as a peace-seeking leader.

Trump vs. Newsom: Wildfire War Escalates as California Faces Destruction

As California grapples with devastating wildfires, tensions between Gov. Newsom and President-elect Trump have reached new heights.

January 20th - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on January 20th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Stock Of The Day: Is Oversold Procter & Gamble Set For A Bounce?

The Procter & Gamble Company (NYSE:PG) stock is trading higher, signaling a potential new uptrend. Oversold and at support, experts have chosen it as Stock of the Day.

Massive $903 Million Bitcoin Transfer Stirs Crypto Market: What's Happening?

In a shock development in the crypto market, $903 million in Bitcoin (CRYPTO: BTC) was moved in several transactions within the last 24 hours, sparking widespread speculation about the

Elon's "Final Move" Could Send This Stock Soaring - Ad

Whenever Elon Musk starts a new venture...Early investors get the opportunity to become millionaires...Early investors in Paypal made as much as 59,500%...SpaceX rose 5,500x in value...And most recently, Tesla jumped over 38,000%!

Biden's administration proposes new rules on exporting AI chips, provoking an industry pushback

WASHINGTON (AP) — The Biden administration is proposing a new framework for the exporting of the used to develop , an attempt to balance national security concerns about the technology with the economic interests of producers and other countries.

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Job Growth, Fed Jitters, And Rising Mortgage Rates: This Week In Economics

The week has been a rollercoaster ride for the U.S. economy. From a slowdown in private sector job growth to rising inflation concerns at the Federal Reserve, the economic landscape has been anything but predictable.

Top 3 Industrials Stocks Which Could Rescue Your Portfolio This Quarter

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.

Trump's next move could be the catalyst that triggers Bitcoin's next BIG breakout - Ad

But here's why I'm not buying Bitcoin directly: It's VERY expensive. Instead, I've found a better way to profit -- without touching any coins, ETFs, or digital wallets. This little-known $25 investment is accessible through your regular brokerage account. It's already up over 10% since Trump's victory, and it's just getting started.

Wall Street's Bonus Frenzy: Top Investment Bankers Eye Double-Digit Pay Boosts As Markets Flourish

Wall Street gearing up for generous bonuses, with top traders and bankers set to see 10%+ increases due to robust revenues. Record decade of bonuses expected to continue thanks to strong trading.

Macy's Shuts Down 66 Locations As Part Of New Chapter Strategy

Macy's revealed plans to close 66 stores as part of its "Bold New Chapter" strategy. The company aims to eliminate underperforming locations and focus on its successful stores.

Shutting Down at 11:59 PM EST - Ad

We're in the midst of an explosive bull market, with gold prices now higher than at any other point in history. Just days from now -- on Jan. 28 -- we expect a major financial event to push gold toward $3,000 ... and then much higher from there. It's why timing is so critical.

Plan for stricter lobster fishing rules scrapped amid strong opposition from lobstermen

PORTLAND, Maine (AP) — Fishing regulators on Friday scrapped a plan for stricter fishing rules amid concerns about a decline in baby lobsters in the warming waters off New England.

If you walked by this guy on the street, you would not think "millionaire" - Ad

You would probably think "accountant" or "average cubicle guy." Actually, he was a lawyer until he unlocked this secret that made him $5 million. How does he do it? We'll warn you... it's about as exciting as a ham sandwich. But it's turning regular readers into 6-figure income machines.

Rudy Giuliani's Legal Crisis Intensifies With Second Contempt Ruling in One Week

Rudy Giuliani has been held in contempt of court for the second time this week for continuing to spread false claims about Georgia election workers.

Supreme Court turns back challenge to strict gun licensing law in Maryland

WASHINGTON (AP) — on Monday turned back a challenge to a strict gun licensing law in Maryland.

The No. 1 Stock for Trump's Second Term? - Ad

Legendary investor Louis Navellier's stock rating system gave a buy rating to ALL of the top 30 performing stocks in the S&P 500 index of Trump's first term... ALL of them! His system is now rating these stocks as a "BUY" for Trump's second term.

Boeing's aircraft deliveries and orders in 2024 reflect the company's rough year

Boeing delivered less than half the number of commercial aircraft to customers than in 2024 as the American aerospace giant's output suffered under intensified government scrutiny and a , according to data released Tuesday.

eVTOL Market Soars Too High? Analyst Gives Archer, Joby Downgrades

JPMorgan downgrades Archer and Joby Aviation stocks, noting they have surged past what fundamentals justify due to market enthusiasm and regulatory challenges.

Our No. 1 Way to Profit From Crypto Boom (Under $1) - Ad

Many of the world's best and richest investors are piling their money into the same trade: Bitcoin. Including legendary hedge-fund manager Paul Tudor Jones, entrepreneur Elon Musk, and venture capitalist Tim Draper. But that pales in comparison to another huge investor (worth more than all the world's billionaires combined) we believe is about to start piling into Bitcoin next. Click here for the full story.

Why is Spain considering a 100% tax on homes bought by non-EU residents?

MADRID (AP) — Spain is planning a raft of measures to address its , including an up to 100% tax on properties that non-European Union residents buy.

Brazil's Potash Powerhouse? - Ad

Brazil relies on imports for over 95% of its potash--but a new $30M NYSE-A IPO could change that. This company's bold plan to produce potash locally could significantly reduce the price for potash, fueling Brazil's agriculture and bringing significant profit potential. The timing couldn't be better.

Nippon, US Steel file suit after Biden administration blocks $15 billion deal

WASHINGTON (AP) — Nippon Steel and U.S. Steel filed a federal lawsuit challenging the Biden administration's a proposed nearly $15 billion deal for Nippon to acquire Pittsburgh-based U.S. Steel..

Oil Stocks Rally On Anticipation Of Stricter Russian Sanctions: Here's How ETFs Are Reacting

Oil stocks and prices are rising due to strict U.S. sanctions on Russian oil. Watch these ETFs tracking oil futures and energy stocks.

ONE AI Stock Is All You Need - Ad

There are over 6,000 stocks listed in the market right now. And even with many of them jumping on the AI bandwagon... They will NOT make you rich. However, there is one stock that stands head and shoulders above everything else. It's currently trading for only $20...

Scott O'Neil takes over as the CEO of Saudi-funded LIV Golf

WEST PALM BEACH, Fla. (AP) — Scott O’Neil was formally introduced Wednesday as the new CEO of Saudi-funded LIV Golf, which enters its fourth season next month while its financial backer is negotiating an investment deal with the rival PGA Tour.

Question on ASEAN stumped Hegseth at Senate hearing. What is it and why is it important?

BANGKOK (AP) — Sen. Tammy Duckworth, grilling President-elect choice for defense secretary over whether he had the “breadth and depth of knowledge” needed to lead international negotiations, asked if could name one member of the , describe what type of agreement the U.S. had with the countries and how many nations were in the bloc.

"Elon's No. 1 AI Stock" Set to Soar - Ad

Forget ChatGPT! Because Elon Musk's AI promises to be 100x more powerful. After all, ChatGPT just works online... While Elon's AI works in the real world.

Greece hotel pools set to switch to seawater on drought-hit islands

ATHENS, Greece (AP) — Hotels on Greek islands may be filling their swimming pools with seawater this summer in response to , under new legislation being debated in parliament.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service