In his first hours in office, US President Donald Trump revoked Offshore Oil and Gas leasing bans that successfully obstructed drilling in most US coastal waters to release America Energy development.
This move by Trump stemmed as part of a wide assault on executive orders given by the former president Joe Biden, including revoking his recent decisions to bar drilling rigs in some 625 million acres of coastal waters.
The change won’t immediately result in new offshore lease sales, and environmentalists are promising to challenge it in federal court. Oil companies have also shown little interest in developing most of the areas Trump has moved to reopen for leasing.
Trump’s decision also aligns with the interests of one of his key constituencies: the oil and gas industry, which has long pushed for more drilling opportunities on federal lands and waters.
Industry leaders contend that oil and gas will remain essential for decades, particularly with the anticipated rise in electricity demand driven by artificial intelligence. Energy executives argue that developing American resources results in a smaller carbon footprint compared to fossil fuels imported from other parts of the world.
