04/10/2017

Trump Says No More, Issuing Order To Terminate Obama’s Off-Shore Drilling Bans

The Young Conservatives

Those waiting for Trump to irritate the Left with another executive order may not have to wait much longer.

According to Bloomberg, Trump is preparing to open the door to oil companies for more offshore drilling with an upcoming executive order.

The coming order is set to push the Interior Department to schedule sales of new offshore oil and natural gas rights in U.S. Atlantic and Arctic waters, amending a five-year Obama administration leasing plan that left out auctions there, according to an industry representative who has discussed it with officials. 

The order is also expected to begin the process of revoking former President Barack Obama’s decision to indefinitely withdraw most U.S. Arctic waters and some Atlantic Ocean acreage from future leasing.

This decision will be celebrated by those that have long touted the potential benefits of offshore drilling.

Interior Secretary Ryan Zinke stated in March, that “opening more federal lands and waters to oil and gas drilling” was a pillar of Trump’s plan to make the United States “energy independent.”

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Keynesian Economics and the Great Depression

Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.

 

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