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The $8 billion Willow project in Alaska, approved by the Biden administration, has spurred debate over its potential economic benefits, climate impacts, and threats to local communities.
ConocoPhillips (COP) closed the most recent trading day at $96.40, moving +1.22% from the previous trading session.
A coalition of environmental groups filed a lawsuit on Tuesday challenging the Biden administration’s approval of ConocoPhillips’ Willow oil and gas project in Alaska, saying the “enormous” project’s greenhouse gas emissions would undermine federal climate goals. The Natural Resources Defense Council, Center for Biological Diversity, Greenpeace and others told an Alaska federal court the U.S. Interior Department finalized the Willow approval on Monday without addressing flaws in the plan identified by a federal judge in 2021. ConocoPhillips did not immediately respond to a request for comment.