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The timing of this is pretty bad considering financial analyst's outlook on the price of oil spiking right before the U.S. presidential election...but that's sort of par for the course when Saudi Arabia wants to influence who's in the White House.

From the article:

The U.S. Interior Department on Wednesday said it would cancel oil and gas leases in a federal wildlife refuge that were bought by an Alaska state development agency in the final days of former President Donald Trump's term.

President Joe Biden, a Democrat, has pledged to protect the 19.6 million-acre (7.9 million-hectare) Arctic National Wildlife Refuge (ANWR) for polar bears and caribou.

"As the climate crisis warms the Arctic more than twice as fast as the rest of the world, we have a responsibility to protect this treasured region for all ages," he said in a statement.

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