Many news reports have called President Obama’s six-month moratorium on deepwater offshore drilling an unwarranted knee-jerk reaction to BP’s catastrophic offshore explosion in the Gulf of Mexico. Opponents of the moratorium say that the ban would deal a devastating economic blow to Gulf Coast communities already besieged by oil. After two court rulings against Obama’s earlier ban on new offshore drilling, the President has issued a new moratorium that he hopes will stand up in court. The move has sparked further outrage in the oil industry and throughout those states that benefit directly from offshore drilling. Louisiana Democrat Nancy Landrieu, ... Read More
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