The Interior Department on Thursday changed an offshore oil and gas policy that will allow operators to produce oil from more geologic layers at once.
The action targets part of the Gulf of Mexico, which President Donald Trump renamed the Gulf of America earlier this year.
Interior officials wrote in a news release that the change in policy could increase production in the Gulf by about 10 percent — or more than 100,000 additional barrels a day over the next 10 years. Interior officials wrote in a press release that the policy change follows Trump’s Unleashing American Energy executive order, which ordered agencies to review policies that “impose an undo burden” on the development of domestic energy resources.
“We’re delivering more American energy, more efficiently, and with fewer regulatory roadblocks,” Burgum said in a statement. “That means lower costs, more jobs, and greater security for American families and businesses as President Trump promised.”
