The Trump Administration is reportedly preparing an executive order that would lift a federal ban on drilling for oil off the East Coast and the mouth of the Chesapeake Bay.
It is the most recent of several moves by Trump to strip away environmental regulations and gut the Environmental Protection Agency. He has proposed to cut EPA’s budget by 31 percent, eliminating 3,200 positions, and terminating 50 programs nationally – including the Chesapeake Bay cleanup program.
The rationale for all this rolling back of environmental rules is that they have been allegedly killing U.S. fossil fuel industries, and in particular holding back innovative oil and gas businesses that should be enjoying more of a renaissance.
But a funny thing happened on the way to the liberation of American energy companies.