'Leap of faith:' Alaska pursues carbon offset market while embracing oil

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'Leap of faith:' Alaska pursues carbon offset market while embracing oil
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Alaska’s push to become a bigger player in the clean energy market will be in the spotlight this week at a conference convened by Republican Gov. Mike Dunleavy.

FILE - This 2019 aerial photo provided by ConocoPhillips shows an exploratory drilling camp at the proposed site of the Willow oil project on Alaska's North Slope. Alaska's push to become a bigger player in the clean energy market is in the spotlight this week at a conference convened by Republican Gov. Mike Dunleavy, even as the state continues to embrace new fossil fuel production, including the controversial Willow oil project.

“There’s kind of a field of dreams quality to this issue. ‘If you plant the trees and create credits, will anyone buy them?’” said Barry Rabe, a political scientist who studies environmental and climate politics at the University of Michigan’s Gerald Ford School of Public Policy. The Willow project being developed by ConocoPhillips Alaska is the latest to draw international attention to the state’s oil reserves. The project approved by the Biden administration earlier this year could produce up to 180,000 barrels of oil a day. It is being challenged in court by environmentalists who argue the U.S. should be moving away from new drilling in the face of climate change.

The bill also would let the state lease lands to third parties that want to manage sequestration projects of their own, such as reforesting areas burned by wildfire or growing kelp. Dunleavy, meanwhile, is expected to tout the newly passed credit offset plan at the Alaska Sustainable Energy Conference in Anchorage this week. The governor created the conference in part “to show the world what Alaska has to offer,” spokesperson Grant Robinson said.

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