Monday, 12 July 2010 21:05

BP Oil Spill: Obama Adm. To Issue New Drilling Moratorium

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The Obama administration will issue a new Gulf oil moratorium on deepwater offshore drilling on Monday.  

Last week, a federal appeals court panel in New Orleans denied the US government’s request  to restore the Obama  administration’s moratorium which went into effect in June  due to the BP Oil  Spill.  

The Obama administration had threatened that a new moratorium would  be coming after Judge Feldman of the United  States District Court overturned  the intial moratorium.

Much of Louisiana political and business community has been opposed to the deepwater moratorium as being too onerous given the intensity of the  already-existing economic damage to Louisiana due to the spill.   

Many opponents to the moratorium also believe that there is little threat to the Gulf of Mexico and  that the BP oil well explosion was due to  a unique set of factors and  circumstances.

Bayoubuzz Staff

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