This decade's oil boom is moving offshore - way offshore

Reuters · last updated August 31, 2022 – 1:01 AM

Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Canada’s Atlantic coast.

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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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