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Trump’s Offshore Oil Plan Will Struggle to Lure Rigs From Guyana

  • U.S. East Coast may be edged out by other tempting prospects
  • Lawsuits and development costs will dissuade many investors
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What Trump's Offshore Drilling Plan Means for Oil Output

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The world’s hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude.

The Trump administration is hoping to lure some of that investment to the U.S. with a proposal to sell leases in almost every inch of the nation’s outer continental shelf -- including territory hugging the U.S. East Coast that shares characteristics with Guyana, a tiny South American country.