Trump Administration to Open Oil & Gas Leasing on the Atlantic Outer Continental Shelf (OCS)

By David Middleton – Re-Blogged From http://www.WattsUpWithThat.com

Trump to Open the Door for Oil Drilling Off U.S.’s East Coast
By Jennifer A Dlouhy, December 11, 2017, 4:00 PM CST

  • Proposal for Atlantic exploration set to be released soon
  • New five-year plan would replace one put in place by Obama

The Trump administration is preparing to unveil as soon as this week an expansive offshore oil plan that would open the door to selling new drilling rights in Atlantic waters, according to people familiar with the plan.

President Donald Trump ordered his Interior Department to write the new blueprint with the aim of auctioning oil and gas drilling rights off the U.S. East Coast — territory that his predecessor, former President Barack Obama, had ruled out. The Interior Department’s coming draft proposal, an initial milestone in replacing the Obama-era sale plan, dovetails with the oil industry’s push for new places to drill, said the people, who asked not to be identified before a formal announcement.

Trump’s proposal would span the years 2019 to 2024, replacing the Obama plan, which runs through 2022.

Industry leaders have lobbied the Trump administration to sell drilling rights in the U.S. Atlantic as a way to complement existing oil production in the Gulf of Mexico. It is not clear how much oil and gas exists off the East Coast, because existing data stems largely from decades-old geological surveys and more than four-dozen wells drilled in the 1970s and 1980s.

Oil companies also want the Trump administration to sell drilling rights in Arctic waters north of Alaska and in the eastern Gulf of Mexico — where federal law bars new oil leasing through 2022. Lawmakers from Florida have fought efforts to expand offshore drilling they say would imperil the state’s tourism-tied economy and are seeking to extend that ban.

[…]

Bloomberg

With the Senate tax bill opening up ANWR and no valid reasons to prohibit drilling in the Eastern Gulf of Mexico, this is shaping up to be the best energy administration in US history.

On top of all of this, after announcing our withdrawal from the Paris climate joke, Trump is using our remaining 3 years as a party to the joke as a vehicle to promote American fossil fuels and nuclear power.

Oil and Gas Potential of the US Atlantic OCS

The Bureau of Ocean Energy Management’s (BOEM) 2014 estimate of technically recoverable hydrocarbon potential to be 4.6 billion barrels of oil and 38 trillion cubic feet (TCF) of natural gas.

While much of this is rank frontier exploration, the northern boundary of the US Atlantic OCS is adjacent to Canada’s very active Scotia Basin.

AtlanticOCS_1

AtlanticOCS_2

US BOEM and CAPP.

Canada’s total offshore Atlantic production is about “180,000 barrels of oil per day and 150 million cubic feet of natural gas per day.”  Unlike the US Federal and State governments, Canada has been actively marketing its Atlantic offshore hydrocarbon potential.

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