Tuesday, June 22, 2010

Judge Overturns Obama's Deepwater Drilling Moratorium

A district court judge has overturned the Obama Administration's six month moratorium on deepwater drilling. Judge Martin Feldman said the Department of the Interior failed to provide adequate reasoning for the moratorium. The Obama Administration intends to appeal to the Fifth Circuit Court.

The moratorium was imposed after the BP oil spill in April.

Banning deepwater drilling seemed like a kneejerk move to me. It would be kind of like imposing a moratorium on auto manufacturers because there are too many car accidents.

But we shall see how the Fifth Circuit rules.

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