U.S. President Joe Biden intends to prohibit new offshore oil and gas developments across a significant portion of the U.S. coastal territory (over 250 million hectares).
This move excludes the sale of drilling rights in the waters of the Atlantic and Pacific Oceans, as well as in the eastern part of the Gulf of Mexico. This was reported by Bloomberg.
The initiative aims to provide permanent protection for coastal waters and communities from fossil fuel extraction and the risks of oil spills.
At the same time, Biden, according to sources, leaves open the possibility of new leases for oil and gas fields in the central and western parts of the Gulf of Mexico. These areas have been drilled for decades and currently account for about 14% of the country’s oil and gas production.
Biden’s decision is expected to be announced on Monday. It builds on a series of steps taken by the White House in its final moments to preserve lands and solidify environmental protections before newly elected President Donald Trump takes office.
This move by Biden could have long-term effects, complicating Trump’s plans to expand domestic oil and gas production.
Democrats in Congress and environmental groups have lobbied Biden to maximize permanent protections against offshore drilling to safeguard vulnerable coastal communities, protect marine ecosystems from oil spills, and combat climate change.
Biden’s measure will not affect drilling and other activities under existing lease agreements.
