There is no clear benefit to investing in Willow other than the hope of creating jobs in the short term. The project

Key Highlights :

1. The Willow oil project will increase Alaskan oil production by a third, but its benefits are smaller and less certain than its boosters have suggested.

2. The project will provide an insufficient substitute for Russian oil, and it will also deliver an ambiguous mix of costs and benefits to Alaska state coffers.

3. The Willow project's effect on the global energy market and American energy independence will be muted.

4. The project's economic impact within Alaska is unclear-cut.

Joe Biden's approval of the massive Willow oil project drew praise from Alaska politicians and oil industry figures, but its benefits are smaller and less certain than its boosters have suggested. The project will provide an insufficient substitute for Russian oil, deliver an ambiguous mix of costs and benefits to Alaska state coffers, and lower global oil prices by around 20 cents a barrel.

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