Trump's push for more drilling clashes with market realities

Despite Donald Trump's efforts to expand offshore drilling, oil companies are sitting on thousands of unused leases in the Gulf of Mexico due to high costs and an oversupply of crude.

Tristan Baurick reports for Grist and Verite News.

In short:

Of the 2,206 active offshore leases in the Gulf, only 448 are producing oil, with companies reluctant to drill due to low prices and high costs.
Trump's regulatory rollbacks and expanded leasing won't significantly increase production, as the U.S. already produces record amounts of crude.
Industry experts say many leases are held for speculation, investment or competitive advantage rather than immediate drilling.

Key quote:

“It’s not the regulations that are getting in the way, it’s the economics.”

— Hugh Daigle, professor of petroleum engineering at the University of Texas at Austin

Why this matters:

Trump’s aggressive push for deregulation was widely championed by the oil and gas industry as a way to ease financial burdens and increase domestic energy output. But experts say those rollbacks, while potentially lucrative for fossil fuel companies, are unlikely to meaningfully boost production or lower consumer energy costs. The balance between energy independence, corporate profits and environmental stewardship continues to shape policy debates as the country navigates a future of volatile oil markets and growing climate concerns.

grist.org

Trump's push for more drilling clashes with market realities

EU countries are bailing out fossil fuels instead of funding the green transition, Greenpeace warns

Experts: You have some power to reduce your AI environmental footprint

Indigenous cultural practices are a climate solution, report finds

Carbon captured

After a civil rights complaint, Chicago built an extensive air-monitoring network

Trump’s Energy Secretary says ‘cold is larger killer’ during record European heatwave

'Flesh-eating' bacteria threat spreads on Europe's beaches as seas warm

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

Pennsylvania health advocates say Trump’s first 100 days in office have caused “100 harms” to local communities

“They're terrorizing these scientists because they want to keep them silent.”

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.