Studies: Offshore drilling plan could produce $590B economic boom

Nearly $600 billion could be added to the domestic economy within 20 years by President Donald Trump’s plan to expand coastal oil and natural gas drilling, an industry report said Friday.

Studies of four regions by Calash and Northern Economics and released by the American Petroleum Institute indicate the Atlantic region could have up to $260 billion in increased economic potential — $160 billion in the Pacific region, $118 billion in the Gulf of Mexico and $60 billion near Alaska.

The development refers to drilling on the outer Continental Shelf, where the search for oil and national gas resources are currently restricted…


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