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Obama plan expands and restricts opportunities in the Atlantic

The Obama administration has given a little to the oil industry and taken a little away

Under the administration’s new five-year plan, made public in late January, the industry may get their first chance in decades to bid on coveted new acreage in the Atlantic offshore and will have further opportunities to expand in the Alaskan sectors of the Beaufort and Chukchi seas. However, Obama also said that he would push Congress to declare a vast swathe of the Arctic National Wildlife Refuge (ANWR) off-limits to exploration. The give-and-take approach has become a hallmark of the Obama administration’s strategy to balancing the environmental concerns of his political base with the economic and energy security benefits that have come from the US’ oil boom. The latest announcements lay

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