An energy industry researcher says, despite both praise and criticism of President Joe Biden’s executive order banning offshore drilling in huge swaths off much of the nation’s coastline, the measure will likely have no near-term impact on oil and gas exploration.

President Joe Biden's move to protect offshore areas is largely symbolic, but the economic factors that may limit oil output gains are very real.

President Joe Biden banned oil and gas drilling along the U.S. coasts, including off New Jersey. Not everyone in the state is celebrating the move.