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Bid to Limit U.S. Offshore Drilling Gains in Wake of Trump Win

  • Activists eyeing obscure 1953 law to permanently ban drilling
  • Some environmentalists worry its use risks repeal of law

A long-shot bid to convince the Obama administration to use 24 words of a 1953 law to permanently restrict oil development off the U.S. Atlantic and Arctic coasts is gaining support from environmentalists concerned about Donald Trump’s victory.

The move to use what’s known as provision 12(a) of the Outer Continental Shelf Lands Act received backing Tuesday from billionaire conservationist Tom Steyer, the founder and former co-senior managing partner of Farallon Capital Management LLC.