Many energy analysts say flat prices, exorbitant costs, civic opposition, climate concerns and new transportation technology make major new offshore drilling enterprises unlikely, at least outside the Gulf of Mexico.
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| Energy analysts say flat prices, exorbitant costs, civic opposition, climate concerns and new transportation technology make major new offshore drilling enterprises unlikely. |
With characteristic flamboyance, the Trump administration has set in motion a grand scheme to lure energy companies to explore for oil and gas across virtually all of America’s outer continental shelf, a deep marine domain encompassing billions of acres of ocean bottom.
Drawing a distinction from the Obama administration’s concerns about climate change and restricting offshore fossil energy development, Interior Secretary Ryan Zinke cast President Donald Trump’s offshore drilling campaign as a study in American strength. “We’re embarking on a new path for energy dominance in America,” Zinke said. “We are going to become the strongest energy superpower.”
Read the Providence Journal story by Keith Schneider - “ANALYSIS: No market for Trump’s huge coastal oil exploration plan.”
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