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Biden bans new offshore oil and gas drilling along most of US coastline

by Investor News Today
January 6, 2025
in Market Updates
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Biden bans new offshore oil and gas drilling along most of US coastline
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Your information to what the 2024 US election means for Washington and the world

President Joe Biden introduced a ban on new offshore oil and fuel drilling alongside a lot of the US shoreline in a transfer designed to bolster his environmental and local weather legacy as he prepares to depart workplace.

The order will defend 625mn acres of ocean on the US east coast, the jap Gulf of Mexico, the Pacific coasts of Washington, Oregon and California, in addition to parts of Northern Bering Sea in Alaska, the White Home mentioned on Monday.

The chief motion is predicted to complicate the coverage agenda of incoming president Donald Trump, who has vowed to “drill, child, drill” and enhance US oil manufacturing, though it’s already at report ranges.

“My determination displays what the coastal communities, enterprise and beachgoers have recognized for a very long time: that drilling off these coasts may trigger irreversible injury to locations we maintain expensive and is pointless to fulfill our nation’s power wants,” Biden mentioned.

The Trump marketing campaign mentioned it was a disgraceful determination designed to precise “political revenge on the American individuals.” Biden’s motion is prone to be challenged by the oil business in court docket and face pushback from Republicans in Congress. 

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