Biden Administration Reinstitutes Offshore Drilling Rules After Deepwater Horizon

The Department of the Interior announced stricter offshore drilling rules under President Biden, reinstating Obama-era regulations.
The rules were weakened under Trump but now require real-time monitoring and stronger blowout preventers.
The oil/gas industry argues the new rules are burdensome, but the administration says they will prevent disasters.
Compliance costs are disputed, with the industry estimating $200 million over 10 years.
The move comes years after the 2010 Deepwater Horizon explosion killed 11 and caused an environmental catastrophe.