An energy industry researcher says, despite both praise and criticism of President Joe Biden’s executive order banning offshore drilling in huge swaths off much of the nation’s coastline, the measure will likely have no near-term impact on oil and gas exploration.

President-elect Donald Trump told radio host Hugh Hewitt in an interview Monday morning that he will "immediately" reverse President Biden's executive order blocking offshore drilling along most U.S.

President Joe Biden's move to protect offshore areas is largely symbolic, but the economic factors that may limit oil output gains are very real.