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An aerial view of an oil tanker and storage tanks at Exxon Mobil’s Beaumont oil refinery, which produces and packages Mobil 1 synthetic motor oil, in Beaumont, Texas, U.S., March 18, 2023.

REUTERS/Bing Guan

Biden bans offshore drilling, and Trump’s hands are tied to stop it

With just 14 days left before he hands over the keys to Donald Trump, Joe Biden has banned offshore oil and drilling along almost the entirety of the US. The ban will cover the entire East Coast, the eastern Gulf of Mexico, and the coast off of California, Oregon, and Washington, as well as a large part of Alaska.

The ban prevents companies from leasing new drilling along 625 million acres, which Ron Neal, chairman of the Independent Petroleum Association of America Offshore Committee, said would limit the industry’s exploration of new projects, hurting its ability to survive in the long term.

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