Loading...
Market
What will be the economic impact of Biden's offshore drilling ban on U.S. coastal states by end of 2025?
2
Resolution / Starting Odds
Significant negative impact • 25%
Moderate negative impact • 25%
No significant impact • 25%
Positive impact • 25%
Economic reports and analyses from credible sources
Story
Biden to Ban Offshore Drilling on 625 Million Acres, Citing 1953 Law, Ahead of Trump's Pledge
Jan 4, 2025, 08:45 AM
President Joe Biden is set to issue an executive order banning new offshore oil and gas development across approximately 625 million acres of U.S. coastal territory. The ban, expected to be announced on Monday, will cover the Atlantic and Pacific oceans as well as the eastern Gulf of Mexico, aiming to permanently protect these waters from future leasing. This move leverages a provision in the 1953 Outer Continental Shelf Lands Act, which allows the president to withdraw federal waters from oil and gas leasing without explicit language for future reversal. This action is anticipated to complicate efforts by the incoming Trump administration to expand domestic oil and gas production, as Trump has pledged to increase drilling activities.
View original story
Similar markets
No significant impact • 25%
Negative impact • 25%
Significant positive impact • 25%
Moderate positive impact • 25%
Moderate Decrease • 25%
Moderate decrease • 25%
No change • 25%
Significant Decrease • 25%
Significant decrease • 25%
Increase • 25%
No Change • 25%
Increase • 25%
Uncertain • 25%
No Change • 25%
Decrease • 25%
Significant decrease (>10%) • 25%
No significant change • 25%
Minor decrease (<5%) • 25%
Moderate decrease (5-10%) • 25%
Ban partially overturned • 25%
Ban modified but in effect • 25%
Ban remains in effect • 25%
Ban fully overturned • 25%
Decrease by less than 5% • 25%
No significant change • 25%
Decrease by 5-10% • 25%
Decrease by more than 10% • 25%
No change • 25%
Data not available • 25%
Decrease • 25%
Increase • 25%
Support the ban • 25%
No official response • 25%
Neutral stance • 25%
Oppose the ban • 25%
California • 25%
Other • 25%
Alaska • 25%
Florida • 25%
Mixed reactions • 25%
Strong bipartisan support • 25%
Strong opposition from Republicans • 25%
Largely ignored • 25%
Divided opinion • 25%
Majority oppose • 25%
Majority support • 25%
Insufficient data • 25%
California • 25%
Other • 25%
Alaska • 25%
Florida • 25%