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Offshore drilling plan could unleash billions of barrels of oil, Rystad says

The Trump administration's proposal to open over 90% of the Outer Continental Shelf's acreage to oil and natural gas drilling could spur billions of dollars in investment, potentially unlocking 65 billion barrels of oil equivalent. "The resource potential in the basins in the direct proximity to Florida, together may hold about 1 billion [barrels of oil equivalent] to 1.5 billion [barrels of oil equivalent], so excluding those will not change the overall picture dramatically," said Rystad senior analyst Sonia Passos.

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