Investing Legend Hints the End May Be Near for These 3 Iconic Stocks

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

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

IPO market's red-hot year has been cooled by the shutdown and more caution among investors

NEW YORK (AP) — A strong year for initial public offerings on Wall Street has fizzled out due to the government shutdown and a cautious turn by investors.

[Revealed] The $100 Starlink Pre-IPO Blueprint! - Ad

Fortune reports Starlink's rumored IPO is set to be the single largest IPO in history. James Altucher has uncovered a way to get a pre-IPO stake BEFORE Starlink goes public. All it takes is just a few minutes of time and as little as $100 to get started.

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

'No One's Buying Homes Here': Cramer Warns On This Housing Stock

Cramer prefers Netflix (NFLX) over FuboTV (FUBO). Rocket Companies (RKT) and Regeneron Pharmaceuticals (REGN) also discussed. FDA approves new drug for Regeneron.

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines

The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

No people thought unaccounted for as UPS cargo plane crash toll stands at 14, Louisville mayor says

LOUISVILLE, Ky. (AP) — The number of victims of a UPS cargo plane crash stood at 14 with nobody believed to be still unaccounted for among the missing, the mayor of Louisville, Kentucky, said Saturday.

Can Solana Do What Bitcoin Can't? Amplify's New ETF Aims For 36% Income

Amplify ETFs, the issuer known for thematic and income-driven fund products, has just launched the Amplify Solana 3% Monthly Option Income ETF (BATS:SOLM), a first-of-its-kind product combining the growth momentum in Solana (CRYPTO:

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Coeur Mining's $7 Billion Deal For New Gold Creates $20 Billion Powerhouse

Coeur Mining Inc. (CDE) announced acquisition of New Gold Inc. (NGD) in all-stock deal valued at $7 billion.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

Congress to Feature Trump on $100 Bill? - Ad

A shocking new plan was just introduced in Washington; to celebrate Trump's new "golden age" by placing him on the $100 bill. In the months ahead, this former Presidential Advisor predicts the government will release a massive multi-trillion-dollar asset which it has held back for more than a century.

Trump Wants Washington Commanders' $3.7 Billion Stadium Named After Him: Report

President Donald Trump is seeking to have the Washington Commanders' new $3.7 billion stadium named after him.

Can You Still Trust This Bull Market? - Ad

Is this bubble set to pop? Headlines say yes, but one market vet with a 15-year track record says not yet. A historic pattern is taking shape that could send $7.4 trillion pouring into select stocks, triggering a Melt Up that could run for years to come. You don't want to miss it.

Bill Gates' Daughter Phoebe's AI Shopping Assistant Found Collecting Extensive User Data: Report

Phia, co-founded by Phoebe Gates, has been found collecting extensive user data through its browser extension, raising privacy concerns.

IREN Skyrockets After Sealing $9.7 Billion AI Cloud Deal With Microsoft

Pre-market trading sees IREN shares up after securing $9.7B cloud contract with Microsoft, partnering with Dell.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Nasdaq Surges Over 100 Points, Records Gains In October: Greed Index Remains In 'Fear' Zone

CNN Money Fear and Greed index remained in Fear zone on Friday. US stocks closed higher, Nasdaq up 4.7% in October. Amazon reported earnings.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

Investing Legend Hints the End May Be Near for These 3 Iconic Stocks - Ad

Futurist Eric Fry say Amazon, Tesla and Nvidia are all on the verge of major disruption. To help protect anyone with money invested in them, he's sharing three exciting stocks to replace them with. He gives away the names and tickers completely free in his brand-new "Sell This, Buy That" broadcast.

Zohran Mamdani Was Crypto Bettors' Overwhelming Favorite For New York City Mayor At 100% Odds — And He Just Won

Zohran Mamdani won the high-stakes New York City mayoral race Tuesday,  a victory widely anticipated by cryptocurrency bettors, who had overwhelmingly backed the Democratic Socialist.

Ferrari CEO Confirms Electric Car Plans, Raises Full-Year Outlook

Ferrari N.V. stock rose after reporting Q3 results and guidance. Sales grew 7.4% and EPS beat estimates. Net revenues and adjusted EPS outlook raised.

[Revealed] The $100 Starlink Pre-IPO Blueprint! - Ad

Fortune reports Starlink's rumored IPO is set to be the single largest IPO in history. James Altucher has uncovered a way to get a pre-IPO stake BEFORE Starlink goes public. All it takes is just a few minutes of time and as little as $100 to get started.

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Trump Says He Knows 'Very Little' About 'Huge' Crypto Industry, But Glad His Sons Are Involved

President Donald Trump expressed strong support for the cryptocurrency industry in an interview aired Sunday, stating that under his administration, the U.S. has emerged as the global leader in the sector.

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

MP Materials Stock Rebounds After Losses Following Mixed Q3 Results

MP Materials Corp (NYSE:MP) shares are trading higher on Friday after initially trading lower following the company's mixed third-quarter financial results.

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

Jensen Huang's Secret Masterplan Revealed - Ad

NVIDIA's revolutionary new invention just solved the #1 chokepoint that's been strangling big AI companies. And Tech legend Jeff Brown - the Silicon Valley insider who called NVIDIA before it skyrocketed more than 30,000%... says a shocking announcement by NVIDIA CEO Jensen Huang could make a lot of early investors rich.

Spotify Premium Subscribers Boost Q3 Revenue, Eyes Strong Holiday Quarter

Spotify (NYSE: SPOT) shares rose after reporting better-than-expected Q3 results, with revenue of $4.99B and 17M new MAUs.

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 trendadvisor.net
Privacy Policy | Terms of Service