President Biden's recent decision to block drilling in over 625 million acres of U.S. ocean is unprecedented, marking a significant shift in offshore energy policy.
The vast territories protected by Biden's administration potentially contain over a third of economically extractable offshore oil and gas, but the immediate impact on oil companies is limited.
Oil industry representatives have characterized Biden's move as politically motivated and symbolic, arguing it contradicts voter support for domestic energy development and restricts future flexibility.
As the oil industry faces a moratorium in key regions, advocates like the American Petroleum Institute have emphasized the need for Congress to prioritize reversing this action.
Collection
[
|
...
]