December 25, 2017
The Trump administration plans to eliminate costly Obama-era regulations on offshore drilling.
According to a new report, the Bureau of Safety and Environmental Enforcement is poised to reverse certain bureaucratic measures on offshore operations.
The administrations is reportedly set to erase an Obama-era rule on equipment inspection.
It also seeks to give more autonomy back to businesses by changing a requirement about reporting data to the government.
Additionally, a change to a drilling provision, which critics say could be used by regulators to abuse their authority is also in the works.
The agency estimates the moves will save the industry nearly $1 billion over the next decade.