Market
What will be the impact on US oil production due to Biden's offshore drilling ban by Dec 31, 2025?
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Reports from the US Energy Information Administration or other credible energy market analyses
Story
Biden to Permanently Ban Offshore Drilling, Locking in Protections Before Trump's Term
Jan 2, 2025, 05:28 PM
President Joe Biden is preparing to issue a decree permanently banning new offshore oil and gas development in select US coastal waters. The move aims to lock in difficult-to-revoke protections for sensitive marine areas before President-elect Donald Trump takes office. The anticipated executive order would complicate Trump's plan to expand domestic energy production. Biden's action is rooted in a 72-year-old law that grants the White House broad authority to permanently protect US waters from oil and gas leasing, without explicitly empowering successors to revoke the protections.
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