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Trump's huge offshore drilling plan unlikely to spark a 'gold rush' for energy industry

January 10, 2018 12:39 PM

The Trump administration made waves on Thursday by announcing it will open virtually all federal offshore waters to oil and gas drilling. But it's not yet certain whether drillers have much interest in dipping their toes into uncharted waters. New offshore drilling projects can take up to a decade to develop and cost billions of dollars. Interior Secretary Ryan Zinke is proposing the biggest ever lease sale at a time when oil prices remain in a range that makes new offshore developments a questionable prospect.

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