Trump's offshore oil bonanza
The administration has proposed a sweeping opening of America's waters to oil drilling. But politics and industry realities will rein in the ambitions
The Trump administration has rolled out its first five-year offshore lease plan, a highly ambitious programme that would open nearly every mile of America's coastline from California to Maine to Alaska to Florida to oil and gas drilling. It's a typically Trumpian opening gambit—flood the zone with an audacious initial proposal knowing the end result will get chopped down. The draft proposal, which covers the five years from 2019 to 2024, will now go through rounds of public hearings and negotiations with state and local politicians. The federal government has wide leeway to regulate waters more than 3 miles off the nation's coastline, but local authorities can make life difficult, if not imp
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
