Biden Moves to Ban Drilling in Millions of Acres of U.S. Waters

President Joe Biden is preparing to sign memorandums that will prohibit new oil and gas leasing across approximately 625 million acres of U.S. waters, including parts of the Atlantic and Pacific Oceans, the eastern Gulf of Mexico, and the Northern Bering Sea. This move, anticipated to be formalized by Monday, aims to safeguard these marine environments but has sparked debate over its implications for U.S. energy independence and the economy. The decision leverages a 1953 law, potentially complicating future reversals by subsequent administrations.

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