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Marketplace Morning Report

The White House wants more offshore drilling

Marketplace Morning Report

Marketplace

News, Business

4.5927 Ratings

🗓️ 21 November 2025

⏱️ 7 minutes

🧾️ Download transcript

Summary

The Trump administration has unveiled plans for a huge expansion of offshore oil drilling. Federal law requires the Interior Department to come up with five-year schedules of oil and gas lease sales. The most recent proposal includes as many as 34 potential offshore lease sales, near the coasts of Alaska, California, and Florida. Also on the show: why the Dutch government wanted to take over a Chinese-owned chip company.

Transcript

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0:00.0

The White House would like to see more oil rigs off of U.S. coasts.

0:06.9

From Marketplace, I'm Sabri Beneshore, in for David Brancaccio.

0:10.5

The Trump administration has unveiled plans for a huge expansion of offshore oil drilling.

0:16.3

It would dramatically increase drilling off the California and Alaska coasts.

0:20.2

And in the Gulf of Mexico, which the President Trump now calls Gulf of America.

0:24.2

Marketplaces Nancy Marshall-Genzor joins us. Good morning.

0:27.0

Good morning.

0:27.8

So this is a total 180 from the Biden era, which limited offshore drilling.

0:31.4

Can you give a sense of the scope of this new Trump plan?

0:34.7

Yeah, well, federal law requires the Interior Department to come up with five-year

0:38.5

schedules of oil and gas lease sales. And that's what this is, Sabree. Interior Secretary Doug

0:44.9

Bergam is proposing as many as 34 offshore lease sales, and that includes 21 areas off the Alaska

0:51.7

coast, seven just west of Florida, and six along the California coast.

0:56.9

There is some opposition to this from California Governor Gavin Newsom, for example. What's he saying?

1:02.5

Yeah, he wrote on X that the plan is, quote, dead in the water. The Natural Resources Defense

1:08.4

Council issued a statement saying there's no need for new oil and gas lease sales.

1:13.4

It says 11 million acres of public waters already lease for drilling are mostly unused.

1:19.4

The American Petroleum Institute, on the other hand, says the plan unlocks opportunities and the industry needs a predictable leasing program.

1:27.5

This is just a draft plan at this point, early stages. What's next?

1:32.3

Well, there'll be a 60-day public comment period on the proposal starting this Monday.

1:37.4

Also, the leasing plan has to be consistent with the laws of the states that are involved,

1:42.6

so there could be lawsuits challenging it.

...

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