The Interior Department has proposed easing Obama-era safety regulations for offshore oil drilling in the Arctic Ocean to "remove unnecessary, burdensome provisions," including ones that require operators to send comprehensive operations plans before submitting exploration requests and to prove they can respond swiftly to oil spills. "We look forward to reviewing a proposal that seeks to correct shortsighted restrictions to research and exploration of the world's largest remaining conventional, undiscovered oil and natural gas resources," said American Petroleum Institute Senior Vice President of Policy, Economics and Regulatory Affairs Frank Macchiarola.
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.