Trump aims to expand offshore oil & gas drilling

He had campaigned on a promise to do away with Obama-era environmental protections

US President Donald Trump signed an executive order on Friday to extend offshore oil and gas drilling to areas that have been off limits, in a move to boost domestic production just as industry demand for the acreage nears the lowest in years.

The order could lead to a reversal of bans on drilling across swathes of the Atlantic, Pacific and Arctic oceans and the US Gulf of Mexico that former President Barack Obama had sought to protect from development in the wake of the huge BP oil spill in the Gulf of Mexico in 2010.

“We’re opening it up ... Today we’re unleashing American energy and clearing the way for thousands and thousands of high-paying American energy jobs,” Trump said as he signed the order.

Trump had campaigned on a promise to do away with Obama-era environmental protections he said were hobbling energy development without providing tangible benefits, pleasing industry and enraging environmental advocates.

The order, called the America-First Offshore Energy Strategy, directs the US Department of Interior to review and replace the Obama administration’s most recent five-year oil and gas development plan for the outer continental shelf, which includes federal waters off all US coasts.

But the executive order comes as low oil prices and soaring onshore production have pushed industry demand for offshore leases near its lowest since 2012, raising questions over its impact.