Arctic refuge oil draws few bids, despite Trump's push for 'liquid gold'

Arctic refuge oil auction yielded modest interest, challenging Trump’s claim of an economic boom. Friday’s sale drew nine bids covering roughly 10% of the 689,000 acres offered, raising about $3.7 million, with the Alaska Industrial Development and Export Authority providing nearly half of the total. Two companies bid on five tracts totaling about 70,000 acres, while no major international oil firms participated. Interior Department officials framed the results as a success, but Democrats called the auction an embarrassment. The sale occurred amid a push to accelerate drilling and amid concerns about logistical challenges and future administrations possibly canceling leases.