Regulators in the Trump administration have proposed a rollback of Obama-era safety measures for offshore drilling that were imposed after the Deepwater Horizon oil spill in 2010, according to The Wall Street Journal.
Scaling back the measures lowers the costs and regulatory burdens on oil companies, the Journal reports:
The Bureau of Safety and Environmental Enforcement, which regulates offshore oil and gas drilling, estimates its proposed changes could save the industry more than $900 million over the next 10 years and reverse some risk-reduction measures that drillers consider burdensome.
Bureau of Safety and Environmental Enforcement Director Scott Angelle previously said the Obama administration’s response to Deepwater Horizon didn’t take into account lessons learned in the industry by the immense financial burden the spill placed on BP and was too broad. – READ MORE
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