Energy industry not interested in marine sanctuaries
Wednesday, October 4, 2017
In an attempt to boost energy development, the United States President Donald Trump’s administration is considering reducing or getting rid of 11 marine sanctuaries designed to protect 425 million acres of coral reefs, marine mammal habitats, and beaches, according to Reuters.
The move is part of a broader strategy to open new areas to oil and gas drilling. However, the move is more likely to help power companies more than oil producers.
Incidentally, neither industry is interested because of the high cost of offshore development, comparable opportunities on land and the public relations issues of developing the sanctuaries.
Learn more: Reuters > Energy industry says ‘no thanks’ to Trump offer of marine sanctuaries
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