Obama bans new oil and gas drilling in parts of Atlantic, Arctic oceans
Thursday, December 29, 2016
With less than a month before he leaves office, President Barack Obama blocked new oil and gas drilling in parts of the Atlantic and Arctic oceans, according to Oil and Gas Investor.
The federal government made the announcement on Dec. 20, stating mineral extraction is banned on 3.8 million acres in the north and mid-Atlantic Ocean as well as 115 million acres in the Arctic Ocean. The decision was part of an effort to “preserve critical ecological hot spots, helping to protect habitats important to Atlantic fisheries” while providing long-term opportunities for research and exploration, the U.S. Department of Interior said in a statement.
Many in the oil and gas industry were disappointed with the decision. The Independent Petroleum Association of America called it a “last-minute decision” that will hurt communities in need of affordable U.S. energy.
Learn more: Oil and Gas Investor > Obama bans new oil, gas drilling offshore Alaska, part of Atlantic
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