The Trump administration is developing an order to open new areas to offshore oil and gas drilling, reversing former President Barack Obama’s unilateral decision to lock up most of the Arctic and Atlantic oceans, according to industry sources.
Industry sources familiar with the matter told Platts an executive order is in the works to rewind Obama’s decision to make large swaths of the Arctic and Atlantic off-limits to oil and gas drilling.
Secretary of the Interior Ryan Zinke told industry representatives the new drilling plan would be signed soon, according to Bloomberg. However, he gave few details on what the order could include.
The Department of the Interior’s (DOI) new five-year offshore drilling plan could take years to develop and would replace the Obama administration’s five-year plan finalized in November.