Trump reverses Biden's oil drilling bans, opens US waters for exploration

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Trump reverses Biden's oil drilling bans, opens US waters for exploration - Business Standard

Quick Summary:

And many conservationists argue offshore drilling poses untenable risks to coastal communities and marine life.

Even when leases are sold, they can take years to yield production, as companies conduct geological research, drill exploratory wells and — eventually, if there’s enough crude and gas to make it worthwhile — develop plans for production at the sites.

The US government’s offshore lease sale plans can take years to develop, given legal requirements for environmental analysis and public comment.