Obama Gives The Middle Finger To The Oil Industry One Last Time – 3%
Politics

Obama Gives The Middle Finger To The Oil Industry One Last Time

The Obama administration is about to release plans to make the Arctic off-limits to offshore drilling and cancel some 25 oil and gas leases at a national forest.

Sources told Bloomberg News’ Jennifer Dlouhy the Department of the Interior’s new five-year offshore drilling plan will “block the sale of new oil and gas drilling rights in U.S. Arctic waters,” which is a big win for environmentalists.

The plan could be short-lived, however. President-elect Donald Trump may decide to scrap Interior’s current five-year plan and start the process anew. There’s also the prospect of Congress using the Congressional Review Act to undo the ban.

Dlouhy notes the plan “is subject to a 60-day congressional review and could be rewritten by President-elect Donald Trump, in a process that could take months or years.”

Republican lawmakers are concerned the Obama administration will rush through a slew of “midnight” regulations before Trump takes office in January, and the House passed legislation Thursday to curb this practice.

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