Trump says he will revoke Biden offshore drilling ban on first day in office

Trump says he will revoke Biden offshore drilling ban on first day in office


A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. 

Mario Tama | Getty Images

President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden’s ban on offshore drilling along most of the U.S. coastline as soon as he takes office.

“I’m going to have it revoked on day one,” Trump said at a news conference, though he indicated that reversing the ban might require litigation in court.

Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. The president issued the ban through a provision of the 1953 Outer Continental Shelf Lands Act.

An order by Trump attempting to reverse the ban will likely end up in court and could ultimately be struck down.

During his first term, Trump tried to issue an executive order to reverse President Barack Obama’s use of the law to protect waters in the Arctic and Atlantic from offshore drilling. A federal court ultimately ruled that Trump’s order was not lawful and reversing the ban would require an act of Congress.

The Republican Party has a majority in both chambers of the new Congress.

Don’t miss these insights from CNBC PRO



Source

UK economy contracts again in May, missing expectations for slight rebound
World

UK economy contracts again in May, missing expectations for slight rebound

London. Dukas | Universal Images Group | Getty Images The U.K. economy shrank again in May, data showed Friday. The latest monthly growth figures from the Office for National Statistics showed U.K. gross domestic product (GDP) contracted 0.1% month-on-month in May. Analysts polled by Reuters had expected a 0.1% expansion. The latest data follows a […]

Read More
This CEO’s startup has raised  million and is backed by Sundar Pichai. He shares his ‘superpower’ tip for aspiring entrepreneurs
World

This CEO’s startup has raised $92 million and is backed by Sundar Pichai. He shares his ‘superpower’ tip for aspiring entrepreneurs

Caesar Sengupta, co-founder and CEO of Arta Finance. Courtesy of Arta Finance Given the ups and downs of the startup journey, the biggest “superpower” that entrepreneurs can have is the ability to ground themselves, said Caesar Sengupta, co-founder and CEO of fintech startup Arta Finance. “There’s so much noise in the world,” Sengupta told CNBC […]

Read More
Trump readies blanket tariffs as he brushes off inflation worries
World

Trump readies blanket tariffs as he brushes off inflation worries

US President Donald Trump during a cabinet meeting at the White House in Washington, DC, US, on Tuesday, July 8, 2025. Aaron Schwartz/CNP/Bloomberg via Getty Images President Donald Trump on Thursday said that he plans to impose blanket tariffs of 15% or 20% on most trade partners, dismissing concerns that further tariffs could negatively impact the stock […]

Read More