President Obama took the “historic step” to ban offshore oil drilling in the Arctic and off the Atlantic coastline, the White House announced Tuesday afternoon.
The action represents a partnership between the United States and Canada “to build a strong Arctic economy, preserve a healthy Arctic ecosystem and protect our fragile Arctic waters, including designating the bulk of our Arctic water and certain areas in the Atlantic Ocean as indefinitely off limits to future oil and gas leasing,” the White House said.
The move is “deeply frustrating and one that will mean a bleak economic future for Alaska,” said Lucas Frances, a spokesman for the Arctic Energy Center, an industry trade group.
The largest oil trade group in Washington, the American Petroleum Institute, said the decision moves the country in the wrong direction and vowed to press the incoming Trump administration to do away with the ban.
“We are hopeful the incoming administration will reverse this decision as the nation continues to need a robust strategy for developing offshore and onshore energy,” said Erik Milito, the group’s director of upstream investment.
Please read the rest of this piece at the Washington Examiner.