Obama reverses policy, bars Atlantic offshore drilling

1x 1

(WASHINGTON) — The Obama administration is reversing course on opening Atlantic waters to oil and gas drilling after protests by environmentalists and coastal communities, Bloomberg Business reported. The proposed offshore leasing program eliminates the administration’s initial plan to auction off drilling rights in as many as 104 million acres of the mid-Atlantic and south Atlantic in 2021. The pullback is a major blow to the oil industry, which had eyed the region as a promising frontier.

Click here to read the story.

By Professional Mariner Staff