Biden opens the possibility of more offshore oil drilling in the Gulf of Mexico

CNBC · Emma Newburger · last updated July 2, 2022 – 1:12 AM

The Biden administration released a five-year offshore oil and gas drilling development plan on Friday that would block all new drilling in the Atlantic and Pacific Oceans within U.S. waters, but would allow some lease sales in the Gulf of Mexico and the south coast of Alaska.

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The Biden administration is proposing additional leasing for offshore oil and gas drilling, largely limiting the plan to the Gulf of Mexico.

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