The U.S. has proposed opening more than 98% of the nation's Outer Continental Shelf to oil and gas leasing with 47 potential lease sales-the most ever offered; however, don't expect industry players to pounce quickly, even if the draft becomes reality. The draft proposed program, presented by the Interior Department, comes as President Donald Trump works to open up more areas for domestic oil and gas drilling. Although the process is in its early days and typically takes years to complete as U.S. authorities gather public comment and consider revisions to the proposed draft, thoughts are on how the oil and gas companies could respond. Will they place bids on blocks in newly proposed areas?
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