President Biden recently announced a sweeping ban on offshore oil and gas drilling, protecting 625 million acres of ocean along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. This decision, made under the 1953 Outer Continental Shelf Lands Act, marks Biden as the president who has conserved the most land and waters in history. Critics, including President-elect Trump, argue that this ban severely limits the economic potential of ocean drilling, which Trump values at $50 trillion. Trump has vowed to revoke the ban on his first day in office, despite potential legal challenges. Historically, Democratic administrations favor conservation, while Republican ones lean towards promoting oil and gas production. During his tenure, Trump highlighted the U.S. becoming a net exporter of fossil fuels, with domestic oil production reaching record highs. Biden, on the other hand, has pushed for a transition to renewable energy sources.
Source: www.realclearpolitics.com
