(Bloomberg) -- The Trump administration is hoping to lure investment to the U.S. with a proposal to sell leases in almost every inch of the nation's outer continental shelf -- including waters hugging the U.S. East Coast that share characteristics with Brazil, Guyana, Ghana and other countries attracting hundreds of millions of dollars in oil companies' quest for crude. Geologists speculate that the U.S. waters could hold an equally tantalizing amount of crude and natural gas. But oil companies may be unwilling to endure the high production costs and public opposition to find out. A gusher of litigation is more likely than a gusher of oil.
To contact the reporters on this story: Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net, Dave Merrill in Washington at dmerrill6@bloomberg.net.
To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Jon Morgan at jmorgan97@bloomberg.net.
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