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Photo: Alex Wong/Getty Images

The Trump administration revealed new offshore drilling requirements it's pushing for on Friday, Bloomberg reports, which would relax some rules put in place after the Deepwater Horizon accident, but reject other changes requested by oil companies.

The details: Environmentalists disagreed with the changes, per Bloomberg, arguing that they "could jeopardize safety improvements." But director of the Bureau of Safety and Environmental Enforcement, Scott Angelle, told Bloomberg: "People were concerned we'd take a sledgehammer to it. Absolutely not. This is a very delicate scalpel to the process."

What's being changed: Per Bloomberg, some of the changes include loosening "measures safety advocates and environmentalists said were necessary" to avoid another Deepwater Horizon. Another change will not require third-party vendors who test underwater blowout preventers to be certified by the safety bureau.

What wasn't accepted: The oil industry requested that the standard for an appropriate "drilling margin" be rewritten, which the administration rebuffed, Bloomberg reports. The administration is instead mandating a "60-day public comment period" for oil companies and stakeholders to take questions on the standard.

Go deeper

Updated 4 mins ago - Politics & Policy

Biden to attempt "emergency economic relief" by executive order

President Biden. Photo: Mark Wilson/Getty Images

President Biden will continue his executive action blitz on Friday, issuing two more orders in an attempt to provide immediate relief to struggling families without waiting for Congress.

Why it matters: In his second full day in office, Biden is again resorting to executive actions as he tries to increase payments for nutritional assistance and protect workers' rights during the pandemic.

Ina Fried, author of Login
5 mins ago - Technology

What we know about the Apple car

Illustration: Eniola Odetunde/Axios

Apple's moves toward breaking into the market for self-driving cars have come in fits and starts, but it has big ambitions for the space and is moving forward both with its own efforts and with potential partnerships with automakers.

Why it matters: Apple has great businesses in phones and computers, but its long-term growth potential will depend on conquering an entirely new market. Improving health care and playing a role in autonomous vehicles appear to be its two biggest bets on that front.

Banks cash in as Wall Street blows out Main Street

Illustration: Aïda Amer/Axios

America’s big banks capped off a winning year, led by soaring Wall Street-facing business lines.

Why it matters: Banks cashed in on the white-hot IPO market, record debt issuance, and sky-high trading volume — all of which played out as economic peril softened the consumer side of their businesses.