One Virginia congressman is very “concerned” by a plan to expand offshore drilling. Democratic Rep. Donald McEachin slammed the Trump White House on Monday for supporting the National Outer Continental Shelf Oil and Gas Leasing Program, despite growing bipartisan opposition. “The Republican mayor of Virginia Beach has come out against it. Many Republicans in our city have come out against this plan,” he told Cheddar Monday. “What I really think it shows is that the Trump Administration is tone-deaf when it comes to issues like offshore drilling." The proposed program, helmed by Interior Secretary Ryan Zinke, was unveiled in January and opposition is picking up steam. Virginia governor Ralph Northam, another Democrat, is meeting with environmental groups Monday to discuss their concerns. The plan looks to open up more than 90 percent of U.S. continental waters for drilling and exploration. It diverges from an Obama era policy which set offshore drilling limits in efforts to protect the environment. McEachin, a member of the House Committee on Natural Resources, said during the interview that Zinke’s bill will not benefit his constituents and could instead kill some 91,000 jobs.

Share:
More In Politics
Post-covid payrolls show new labor market norms
A lot has changed since the pandemic began back in march 2020. COVID-19 caused a huge disruption in the U.S. labor force that is just beginning to normalize. As of last month, about 96% of jobs lost in the pandemic have returned. Still, where people work now looks very different from two years ago. Cheddar's Shannon Lanier looks at where the jobs are now and where they aren't.
Senators Introduce Bipartisan Bill for Crypto Regulation
Michelle Bond, CEO of the Association for Digital Asset Markets, joins Closing Bell, where she breaks down the Responsible Financial Innovation Act, which would not only establish a regulatory structure for digital assets, but hand over crypto oversight to the CFTC instead of the SEC.
Survey Shows Americans Delaying Retirement Due to Inflation
A survey by the BMO Real Financial Progress Index found that 25 percent of Americans are pulling back on retirement contributions to offset the cost of inflation. This comes as market volatility reduced retirement savings with the S&P 500 shedding more than 12 percent this year alone.
Load More