Transcript PPT - National Journal

PRESENTATION CENTER
ATLANTIC DRILLING
Obama Withdraws Plans to Open Atlantic
to Oil and Gas Drilling
Reasons Why Obama Administration Retracted Atlantic Oil Drilling Plans
Reason
Details
National
Security
Concerns
• Some of the Atlantic drilling leases would have been off the coast of
Norfolk, VA, a major naval base
• The Department of Defense had issued a report to Obama detailing
that some of the drill sites would interfere with naval exercises
Economic
Impact on
Coastal Areas
• The governors of all fours states where the drilling would have taken
place supported the measure (Virginia, North Carolina, South
Carolina, and Georgia). However, Hundreds of local communities
and coastal cities opposed the drilling
• Coastal towns were concerned drilling would negatively impact
tourism and fishing, two major industries along the Atlantic coastline
Weak Oil
Market
• Currently, the oil market is oversupplied causing crude oil prices to
be low
• Offshore drilling is one of the most expensive oil and gas exploratory
operations, making them not as cost-productive during low oil prices
Environmental
Preservation
• Opening drilling in the Atlantic would have increased carbon
emissions, which would go against Obama’s commitment to combat
climate change
• Did not want to expose Atlantic coastline to potential oil spill
Offshore Drilling
Lease Proposal
• Obama has still
allowed ten new
leases for drilling in
the Gulf of Mexico
and three new sites
along the Alaskan
coast
• Environmentalists
are concerned about
the detrimental
effects to the Artic
from the new
Alaskan drill sites
• Oil and gas
companies are upset
because Artic drilling
exploration is
expensive and not
profitable
Source: Jennifer Dlouhey, “Obama Bars Atlantic Offshore Oil Drilling in Policy Reversal,” March 15, 2016; Robinson Meyer, “ Obama Abandons Plans to Drill in the Atlantic
Ocean,” The Atlantic, March 15, 2016; Darryl Fears, “ Obama Pulls Plan to Allow Oil Drilling Off Southern Atlantic Coast,” Washington Post, March 15, 2016.
March 16, 2016 | Ben Booker