Trump’s Treasury Dept. Won’t Stand for Banks’ Discrimination Against Arctic Energy Developers

November 24, 2020

If you listened to the howls of the eco-extremists scattered here and there throughout Alaska’s vast landscape, you would have thought something catastrophic – maybe even cataclysmic – had occurred late last week.

From across the state, they reacted to a published notice by the Treasury Department’s Office of the Comptroller of the Currency, putting banks and other lending institutions on notice that their recent plans to deny capital for Arctic development may not pass federal muster.

We’ve written about this before, commending Alaska’s Senators Dan Sullivan and Lisa Murkowski, as well as Congressman Don Young, for their aggressive response to numerous banks across the world bowing to pressure from anti-development zealots, and announcing their intent to deny funding for Arctic projects (including ANWR).

While the eco-Left gnashes its teeth at the actions, it is good to see Treasury push back against efforts to thwart the jobs, federal revenues and increased energy and mineral independence that these projects would bring.