The US federal government said yesterday it would open 3.9m acres of land in a designated petroleum reserve in Alaska to drilling in an effort to help curb rising petrol prices.

"This is welcome news at a time when Americans are paying record prices at the pump," said C. Stephen Allred, assistant US secretary for land and minerals. "Together with proposed production from other offshore and onshore areas, these supplies will help to stabilize energy costs.''

Source: Financial Times

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