Geophysical Surveying and Mapping Services NAICS 541360

Apr 23, 2025 - Mining the Seabed

• The Trump administration is reported to be considering an executive order that would accelerate deep-sea mining in international waters by allowing companies to bypass a United Nations-backed review process, Mining.com reports. According to sources cited by Reuters, the EO would affirm the US’s right to extract critical minerals from the ocean floor, enabling companies to bypass the International Seabed Authority and seek permits directly from the National Oceanic and Atmospheric Administration. Such an EO could give mining companies a formal permitting process and avoid the potential perception that they aim to mine the ocean's floors without any oversight, Reuters reported, adding the EO would mark Trump’s latest attempt to capture international deposits of nickel, copper, and other critical minerals following recent efforts to tap resources in Greenland and Ukraine. Opening international waters to deep-sea mining would create opportunities for geophysical surveying and mapping firms to perform seabed surveys.
• President Trump has lifted some of former President Biden’s efforts to restrict oil and gas drilling on public lands and waters, The Hill reported in January. Trump’s move was part of a larger executive order that undoes dozens of Biden-era policies, including rescinding the ex-president's recent order to block 625 million acres offshore from oil and gas drilling — including the entire Atlantic and Pacific coasts. Trump also revoked a Biden-era order blocking 2.8 million acres in the Arctic Ocean from oil and gas drilling. Trump’s action could face legal hurdles. Meanwhile, Sen. Ted Cruz and Rep. Jodey Arrington, both of Texas, have introduced legislation to repeal an executive order issued by Biden at the end of his presidency that banned energy exploration on more than 625 million acres of offshore territory. The legislation is supported by a coalition of energy-focused organizations including the American Petroleum Institute and EnerGeo Alliance.

• The post-election mood in the oil and gas industry – a major customer for geophysical surveying and mapping services – is one of high optimism, according to The American Oil & Gas Reporter. “It borders on exuberant,” described Karr Ingham, president of Texas Alliance of Energy Producers. There’s a sense of relief in the industry that the Biden administration’s anti-fossil-fuels approach will soon be in the past. The national trade association for the oil and gas industry, the American Petroleum Institute, has a roadmap for the incoming Trump administration that includes swiftly authorizing liquified natural gas exports, expanding drilling on federal lands, making pipeline permitting easier, repealing strict vehicle emissions and fuel economy standards, and keeping current corporate tax rates in place. Trump has said he’ll create a National Energy Council to “oversee the path to US energy dominance,” and has tapped Doug Bergum, governor of oil-rich North Dakota as Interior Secretary.
• Employment by architectural and engineering services grew 2.8% in February compared to a year ago, following a 5% year-over-year increase in the average industry wage to a new high of $43.14 per hour in January, according to the latest US Bureau of Labor Statistics data. Industry payrolls have been rising along with producer prices, up 1.4% in 2024 versus 2023, according to BLS data. However, a slowdown in the oil patch, due to tariff-induced economic uncertainty and falling oil prices may slow demand by energy producers for geophysical surveying and mapping services. In April, US oil prices sank to their lowest level since 2021 on concerns that the tariffs will hurt economic growth.