On Sept. 6, the Biden administration took steps to fulfill the president’s campaign promise to block oil and gas drilling in the Arctic National Wildlife Refuge, cancelling the last remaining oil and gas leases within ANWR. But the holders of those leases -- Alaska’s state-owned development finance corporation, the Alaska Industrial Development and Export Authority -- is not taking this lightly.

AIDEA Executive Director Randy Ruaro joined the podcast to talk about the lease cancellation, the organization’s planned lawsuit and why oil development and protecting the environment do not pose an either-or proposition as he sees room for both to coexist. He also touched on AIDEA’s views on rising oil prices and recent predictions about peak oil demand.

Stick around for Starr Spencer with the Market Minute, a look at near-term oil market drivers.