President Joe Biden plans to permanently ban new offshore oil and gas development in portions of the country’s outer continental shelf during his final weeks in the White House, Bloomberg’s Jennifer A. Dlouhy reports. The President could issue the executive order within days, according to people familiar with the matter, who add that the move will complicate President-elect Trump’s ambitions to drive more domestic energy production. Publicly traded companies in the space include Baker Hughes (BKR), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), SLB (SLB), Transocean (RIG) and Weatherford (WFRD).
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