“I’m going to have it revoked on day one,” Trump said at a news conference. Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden‘s ban on offshore drilling along most of the U.S. coastline as soon as he takes office. “I’m going to have it revoked on day one,” Trump said at a news conference, though he indicated that reversing the ban might require litigation in court. Biden announced Monday that he would protect 625 million acres of ocean from offshore oil and gas drilling along the East and West coasts, the eastern Gulf of Mexico, and Alaska’s Northern Bering Sea. The president issued the ban through a provision of the 1953 Outer Continental Shelf Lands Act. An order by Trump attempting to reverse the ban will likely end up in court and could ultimately be struck down. During his first term, Trump tried to issue an executive order to reverse President Barack Obama’s use of the law to protect waters in the Arctic and Atlantic from offshore drilling. A federal court ultimately ruled that Trump’s order was not lawful and reversing the ban would require an act of Congress. The Republican Party has a majority in both chambers of the new Congress. Wall Street analysts see big gains for these Warren Buffett-owned stocks in 2025Dan Niles names cash as a top pick for the first time since market drop in 2022Morgan Stanley says rising rates are threatening the bull market so ride it out in these quality stocksGoldman adds three stocks to conviction list to start year, including one where it sees nearly 60% upside