Advocates of offshore drilling could soon have good news coming their way, thanks to initiatives by President Trump. President Trump has pushed for energy dominance on a global scale, one of the main reasons his administration has made efforts to increase offshore pipelines.
Reversing Previous Legislation
In June 2017, Trump’s administration began rolling out a plan that would expand offshore pipeline exploration in the Arctic and Atlantic Oceans. The previous drilling plan had been instituted by then-President Barack Obama. President Obama’s drilling plans protected many of these areas.
President Trump indicated during this time that America was now entering their golden age of energy. Even though the country has seen a noticeable increase in oil production over the past few years, Trump has vowed to push ahead and increase production even more.
This is in line with Trump’s general view towards the energy sector. One of the first things Trump did when he took office was sign an executive order that dissolved Obama’s drilling plan. Trump also took efforts to revive the coal industry. Industry output rose by nearly 20% in the first few months of 2017.
Increased Offshore Exploration
Recently, Trump’s administration indicated that offshore oil and gas drilling opportunities would be even greater than first indicated. Companies within the industry will be granted access to the California coastline for the first time in American history. Additionally, the plan calls for nearly a billion acres in the Arctic and Atlantic to be opened for drilling.
This is a tremendous difference from the previous administration. President Obama had protected about 94% of the continental shelf from offshore drilling. Now, under Trump’s proposed plan, companies would be able to lease about 90% of those areas for offshore drilling. Only the North Aleutian Basin would be protected from offshore pipelines.