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In 1969 drilling bans were established for offshore California and Florida, and in 1990 President George H. W. Bush banned offshore drilling entirely. Nevertheless, offshore drilling continued in offshore Texas and Louisiana. Offshore drilling became central in the 2008 presidential election, not least because of the oil price increases since 2003.
Trump is expected to speed drilling permits that took an ... What is the actual inflation rate today? Although annual inflation has slowed to less than 3% from a 40-year high of 9.1% in mid-2022 ...
While Biden views his offshore drilling ban as a way to hasten the United States’ “transitio[n] to a clean energy economy,” his successor wants to maximize U.S. oil and gas production to ...
Congress repeated the effective ban on offshore drilling in these areas every year until September 2008, when an appropriations bill passed the House and Senate without the ban. In 1990, Congress passed the North Carolina Outer Banks Protection Act, prohibiting leasing and drilling on federal seabed offshore from North Carolina.
This year didn't start well for investors in offshore drilling companies. Shares of Diamond Offshore , Atwood Oceanics , and SeaDrill continued the downtrend already in place at the end of 2013.
The NRDC has said that drilling would not take place in a compact, 2,000-acre (810 ha) space as proponents say, but would create "a spiderweb of industrial sprawl across the whole of the refuge's 1.5-million-acre (0.61-million ha) coastal plain, including drill sites, airports and roads, and gravel mines, spreading across more than 640,000 ...
The Interior Department's rule raises royalty rates for oil drilling by more than one-third, to 16.67%, in accordance with the sweeping 2022 climate law approved by Congress. The previous rate of ...
Drilling has taken place in offshore Atlantic Canada since 1967. Gas was discovered on the Sable Offshore Energy Project (SOEP) offshore Nova Scotia in 1971, began producing natural gas in 2000, and is still producing. A second natural gas field offshore Nova Scotia is expected to start delivering gas in 2010. [33]