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.