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Shell's Perdido offshore drilling and production platform in the Gulf of Mexico. Photo: Gary Tramontina / Corbis via Getty Images

The Trump administration is backing away from plans to allow oil drilling off the coast of Florida after the state's Republican Gov. Rick Scott criticized the proposed moves.

Officials from the Department of the Interior said Thursday that they were floating draft plans to open up the Atlantic and Pacific coasts, the eastern Gulf of Mexico, and revive lease sales in Arctic waters off Alaska's coast, per Axios' Ben Geman.

Interior Secretary Ryan Zinke said in a statement that he supports Scott's "position that Florida is unique and its coasts are heavily reliant on tourism as an economic driver.

Go deeper: Making sense of Trump's big offshore drilling push

Go deeper

Dan Primack, author of Pro Rata
11 mins ago - Economy & Business

IPOs keep rolling despite stock market volatility

Illustration: Aïda Amer/Axios

Stock market volatility is supposed to be kryptonite for IPOs, causing issuers to hide out in their private market caves.

Yes, but: This is 2020, when nothing matters.

Ben Geman, author of Generate
50 mins ago - Energy & Environment

Higher education expands its climate push

Illustration: Aïda Amer/Axios

New or expanded climate initiatives are popping up at several universities, a sign of the topic's rising prominence and recognition of the threats and opportunities it creates.

Why it matters: Climate and clean energy initiatives at colleges and universities are nothing new, but it shows expanded an campus focus as the effects of climate change are becoming increasingly apparent, and the world is nowhere near the steep emissions cuts that scientists say are needed to hold future warming in check.

Ina Fried, author of Login
1 hour ago - Economy & Business

The pandemic isn't slowing tech

Illustration: Eniola Odetunde/Axios

Thursday's deluge of Big Tech earnings reports showed one thing pretty clearly: COVID-19 may be bad in all sorts of ways, but it's not slowing down the largest tech companies. If anything, it's helping some companies, like Amazon and Apple.

Yes, but: With the pandemic once again worsening in the U.S. and Europe, it's not clear how long the tech industry's winning streak can last.