Stock Markets8 minutes ago (May 27, 2021 12:05AM ET)3© Reuters. FILE PHOTO: U.S. President Joe Biden delivers remarks after touring Ford Rouge Electric Vehicle Center in Dearborn, Michigan, U.S., May 18, 2021. REUTERS/Leah Millis
(Reuters) -U.S. President Joe Biden’s administration defended on Wednesday a proposed ConocoPhillips (NYSE:COP
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Technical Summary5 Min:Strong BuyHourly:BuyDaily:NeutralMonthly:Strong Buy) oil development in Alaska, backing the drilling project which was approved under the administration of former President Donald Trump.
“A Wednesday filing by the U.S. Department of Justice continues to defend a 2020 Record of Decision for the Willow Project in the National Petroleum Reserve – Alaska (NPR-A)” a spokesman of the U.S. Interior Department said in an email.
“The filing maintains that the decision complied with NEPA (National Environmental Policy Act) standards in place at the time, and that the plaintiffs did not challenge the Record of Decision within the time limitations associated with environmental review for projects in the NPR-A”, according to the statement.Biden administration backs Alaska oil drilling project approved under Trump3Comments (3)