Executive Order Could Open More Offshore Areas To Energy Production
President Donald Trump on Friday signed an executive order that directs the secretaries of the Interior and Commerce to take action to lift restrictions on offshore oil drilling.
Specifically, the order requires that the secretary of the Interior review areas closed off by the current five-year plan for sale of oil and gas leases in the Outer Continental Shelf (OCS) and to review four regulations put into place by the previous administration that could reduce exploration and development in the OCS. The order also requires the Interior and Commerce departments to “work together to develop a streamlined permitting approach for privately funded seismic data research and collection to expeditiously determine the offshore resource potential of the United States.”
The Metals Service Center Institute (MSCI) supports an “all of the above” energy strategy. The North American metals industry requires a reliable energy supply to succeed and thrive, and lower, more stable energy prices will make U.S. manufacturers more competitive with their foreign counterparts and will lead to more employment opportunities, higher incomes, and better benefits for U.S. workers.
Interested in learning more? Check out our energy policy agenda, which calls on policymakers to rationalize the permitting requirements and approval process for new energy production and transmission facilities.