The Trump administration is hoping to lure investment to the U.S. with a proposal to sell leases
in almost every inch of the nation’s outer continental shelf --
including waters hugging the U.S. East Coast that share characteristics
with Brazil, Guyana, Ghana and other countries attracting hundreds of
millions of dollars in oil companies’ quest for crude. Geologists
speculate that the U.S. waters could hold an equally tantalizing amount
of crude and natural gas. But oil companies may be unwilling to endure
the high production costs and public opposition to find out. A gusher of
litigation is more likely than a gusher of oil.
By
and Dave Merrill
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