Apart from the threat of shale O&G producers, the US is now (Jan 2018) open to the idea of allowing exploration and drilling works in offshore fields such as off the coast of California up to Alaska.
The move is a big shift in the US energy policy, as the last offshore lease sale was given out in 1983. No US administration has done it after that due to pressure from environmentalist groups.
If President Donald Trump gets the proposal through, it would only add to a higher supply of crude to the global market that is already seeing restrained production from the major oil producers, namely, Saudi Arabia and Russia.
Since mid-2016, Opec and Russia have agreed to cut production to reduce supply and help push up prices. So far (Till Jan 2018), it has worked, prompting the countries in the pact to continue with the production cuts until the end of 2018. However, with the US flooding the market with its relentless production, the fragile agreement may not hold for long.
USA WILL BE THE BIGGEST WINNER!!!!!