Market
What will be the impact of Biden's offshore drilling ban on US oil production by the end of 2025?
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Joe Biden•US•Atlantic•Pacific•Gulf of Mexico•Alaska•North Bering Sea•Nevada•Ruby Mountains•Biden•Trump
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Reports from the US Energy Information Administration or similar agencies
Story
In Final Act, Biden Bans New Offshore Drilling Across 625 Million Acres, Including Alaska Waters
Jan 6, 2025, 09:30 AM
President Joe Biden is set to ban new offshore oil and gas development across 625 million acres of US coastal waters, including the Atlantic and Pacific coasts, the eastern Gulf of Mexico, and Alaska's North Bering Sea. The ban also includes a 20-year prohibition on oil, gas, and geothermal development in Nevada's Ruby Mountains. This action, under the Outer Continental Shelf Lands Act, comes as one of Biden's last acts as president and aims to protect the environment while complicating any plans by the incoming Trump administration to expand offshore drilling.
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