President Trump today signed an executive order that will expand offshore drilling for oil and gas.
"Our country is blessed with incredible natural resources including abundant offshore oil and natural gas reserves," Trump said.
"Today we're unleashing American energy and clearing the way for thousands and thousand of high paying American energy jobs," he continued.
Trump's move could undo a plan finalized by President Obama that sought to limit fossil fuel development and fight climate change by not including new drilling leases off the coast of California or Alaska during the current five-year federal offshore plan, which extends through 2022.
Read more here.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)