Replies to post #136 on Energy Select Sector SPDR (XLE)

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Trump signs order to expand offshore drilling

Pres. Trump officially signs an executive order that seeks to expand offshore oil and gas drilling to areas currently off limits.

The order will allow the Interior Department to review and replace the Obama administration's most recent five-year oil and gas development plan for the outer continental shelf, which includes federal waters off all U.S. coasts, and will reverse Obama's move to place parts of the Arctic permanently off limits to drilling.

The order also allows the Commerce Department to review previous presidents' designations of marine national monuments and sanctuaries under the 1906 Antiquities Act over the last 10 years.

California Attorney General Becerra says his office will strongly oppose drilling off its coast.