--- title: Donald Trump's Energy Policy May Not Bring More Oil and Gas description: The Administration has taken steps to open millions of acres to oil drilling but analysts say it's unclear how much will be developed. canonical: https://time.com/5093950/donald-trump-oil-drilling-energy/ author: Justin Worland article:opinion: false article:content_tier: free article:published_time: 2018-01-12T19:23:42.000Z article:modified_time: 2023-12-12T23:04:19.000Z article:section: Politics og:title: The Trump Administration Keeps Trying to Sell Federal Land for Oil Drilling. But Nobody Wants It og:description: For now, fracking is cheaper og:url: https://time.com/5093950/donald-trump-oil-drilling-energy/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt0ee8810ed3d12df8/6988f7ee7cdbac3b22d5b90c/oil-rigs-coastal.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 2872 og:image:height: 1616 og:image:alt: offshore oil drilling og:type: article twitter:card: summary_large_image twitter:title: The Trump Administration Keeps Trying to Sell Federal Land for Oil Drilling. But Nobody Wants It twitter:description: For now, fracking is cheaper twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt0ee8810ed3d12df8/6988f7ee7cdbac3b22d5b90c/oil-rigs-coastal.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # The Trump Administration Keeps Trying to Sell Federal Land for Oil Drilling. But Nobody Wants It > Sponsored content. Supplied in partnership with TIME. 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Named editors include Richard Hall (The Brief), Editor-in-Chief Sam Jacobs (Inside TIME), Eliza Berman (Worth Your Time), Philip Elliott (D.C. Brief), Justin Worland (Future Proof) and Harry Booth (In the Loop). Health Matters is written by TIME's health desk. #### How do I sign up for a TIME newsletter? Go to time.com/newsletters, choose the newsletters you want and enter your email address. There is no cost and no subscription requirement. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-network-2026q3/newsletters?i=555c5824-61b5-46cd-b2f4-6dcb2c7eabc8&cr=time-nl-network-2026q3-v1) ## Video: The Legal Reasons Why President Trump Won't Take A Stand On Climate Change [Watch (HLS stream): The Legal Reasons Why President Trump Won't Take A Stand On Climate Change](https://cdn.jwplayer.com/manifests/mia6Tcb8.m3u8) (2:11)  _Published 2017-09-26. The Legal Reasons Why President Trump Won't Take A Stand On Climate Change_  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Updated: Dec 12, 2023 11:04 PM UTCPublished: Jan 12, 2018 7:23 PM UTC  by [Justin Worland](https://time.com/author/justin-worland/)  ## Justin Worland Senior Correspondent Updated: Dec 12, 2023 11:04 PM UTCPublished: Jan 12, 2018 7:23 PM UTC Last month, the Trump Administration put more than 10 million acres of land in Alaska on the auction block for oil and gas companies to lease and eventually drill. The move — a key part of Trump’s energy strategy — was billed as the President making good on his promise to bring U.S. “energy dominance” to the rest of the world. But by the end of the auction the Bureau of Land Management had received only seven bids for land covering 80,000 acres, less than 1% of the area offered. In total, the federal government would collect just under $1.2 million, or $15 per acre. The high cost associated with new drilling projects combined with relatively low oil prices made the area simply an undesirable investment for the industry. Alaska is not the only place where Trump’s plan to drill has met with tough market realities. The Administration has taken steps to open millions of acres to oil drilling across the country and off the coast of the U.S., from using the tax reform bill as a [vehicle](http://time.com/5011486/anwr-arctic-national-wildlife-refuge-oil-drilling/) to open drilling in the Arctic National Wildlife Refuge to considering most of the waters of U.S. coasts for oil exploration. But analysts and key industry players say it remains uncertain how much of it will actually be developed to produce oil or gas. “We’ll have to see,” said Jack Gerard, CEO of the American Petroleum Institute, asked about the business case for developing new areas proposed by the Administration for offshore drilling last week. “The market will eventually drive where those dollars are invested: are they onshore? are they offshore? are they in the United States or elsewhere?” Trump has [promised](https://www.whitehouse.gov/briefings-statements/remarks-president-trump-unleashing-american-energy-event/) that his shift “unlocks million and millions of jobs and trillions of dollars in wealth,” but the market reality is more complicated. Oil prices remain low enough that pouring billions into exploring vast new areas offshore, in the Arctic and in Alaska — key regions Trump has sought to open to drilling — would be a risky investment. That’s especially the case as fracking in the U.S. remains a relatively cheap and accessible alternative. “The cost of the resource from shale is just more predictable,” says Roger Stern, a faculty fellow at the University of Tulsa’s School of Energy. More broadly, oil investors have sought to stem overproduction, which has contributed to low prices, rather than finding new sources of supply. OPEC, the oil cartel that represents 14 oil producing countries including Saudi Arabia, the world’s second-largest oil producer after the U.S., has pushed production cuts. In the U.S., investors told shale oil and gas producers to focus on profits rather simply generating more of the product, according to a Wall Street _Journal_ [report](https://www.wsj.com/articles/wall-streets-fracking-frenzy-runs-dry-as-profits-fail-to-materialize-1512577420). In the longer term, oil and gas projects can take more than a decade to develop, analysts say oil companies remain concerned about whether demand will stagnate. Policies fighting climate change and the rise of the electric vehicle could both shrink demand. A 2017 [report](https://www.iea.org/weo2017/) from the International Energy Agency shows global oil demand continuing to grow through 2040, but at a markedly slower pace. Oil and gas companies nonetheless cheered Trump’s move. The companies that purchase the right to drill despite low demand tend to be the big oil giants that can afford the risk. Those companies could hoard some leases in case prices do recover and will be positioned for a windfall profit if they do. This means the government may forego opportunity for profitable auctions in the future while all but giving away the right to drill on public land today, says Hillard Huntington, executive director or Stanford University’s Energy Modeling Forum “I’m not against developing these areas,” says Huntington. But “if the government sells the leases, I’m not sure how much money they’re going to get at this point. They could be sold at a relatively low fee, which would not be good for American citizens.” No matter the market conditions, Trump’s presidency has largely been a win for the oil and gas industry. Regulations have been cut back, oil companies could soon have unprecedented access to land long out of their reach and, perhaps most significantly, at least in the short term, oil companies by and large received a massive tax cut. But for now, the plan to sell them federal land for drilling is not a big win. ## Transcript As a candidate Donald Trump had no problem giving his opinion about climate change. So Obama's talking about all of this with the global warming, and a lot of it's a hoax, it's a hoax, I mean it's a money making industry okay . >> But as president he won't say what he things and neither will his administration. The president himself during the campaign called climate change a hoax. Have you had that conversation with him? I have not had that conversation with him. He no longer believes what he tweeted during the course of the campaign in years earlier, that it's a hoax? Look, you're gonna have to ask him. I'll ask it one more time. Does he believe global warming's a hoax? Does he believe- You should ask him that. When asked their own opinions, other members of the Trump administration generally agree the climate is changing and humans may play a role. Climate is changing, it always has. Man at this particular point in time is having an effect on it, how much effect is what's at debate here. So why is Trump himself so cagey? Part of it is political, polls show the majority of Americans believe global warming is real and is caused by human activities. Part of it personal, Trump does not like to admit he was wrong about an issue in the past As can be seen from his brief and begrudging admission this his crusade over President Obama's birth certificate was mistaken. President Barack Obama was born in the United States, period. But there's a legal reason too. The Environmental Protection Agency has found that the greenhouse gases, which cause climate change Are a form of pollution that endanger human health and wellbeing. And thanks to a 2007 Supreme Court ruling, that means the EPA must act on those findings. If the Trump Administration were to say climate change isn't real it would be open to lawsuits from environmentalists for not acting on its own EPA findings. EPA Administrator Scott Pruitt is careful to say that it's real in some form. I indicated That in fact global warming is occurring. That human activity contributes to it in some manner. That doesn't mean the EPA has to keep the Obama administration's plans in place. In fact members of the Trump adminstration have been steadily rolling back regulations designed to fight climate change. They just can't say they're doing that. Because climate change isn't real. [ MUSIC ] [ BLANK_AUDIO ] ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5093950/donald-trump-oil-drilling-energy/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5093950/donald-trump-oil-drilling-energy/"},"headline":"The Trump Administration Keeps Trying to Sell Federal Land for Oil Drilling. 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