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No oil or gas companies bid in Alaska’s Cook Inlet lease sale, marking continued industry disinterest despite federal mandates.
No oil or gas companies submitted bids in the federal government’s first mandated offshore lease sale in Alaska’s Cook Inlet, covering over 1 million acres, according to the Bureau of Ocean Energy Management.
The auction, required by the One Big Beautiful Bill Act signed in 2025, marks another instance of industry disinterest, following a similar 2022 sale with only one bid.
Despite the administration’s push for American Energy Dominance, low participation reflects high exploration costs, declining production in the mature basin, and competition from cheaper energy alternatives like imported liquefied natural gas.
Environmental groups welcomed the outcome, citing concerns over endangered beluga whales and inadequate environmental review.
Federal officials said they will continue holding annual lease sales through 2032 to maintain a predictable schedule.
Ninguna compañía de petróleo o gas hizo una oferta en la venta de arrendamiento de Cook Inlet en Alaska, marcando el continuo desinterés de la industria a pesar de los mandatos federales.