Tags: Barack Obama | Economic- Crisis | Obama Cabinet | | Tantaros | deepwater | drilling

Obama's Offshore Drilling Ban Will Sink the Economy

Thursday, 15 Jul 2010 03:12 PM

By Andrea Tantaros

Come hell or, in this case, deep water, the Obama administration is determined to find a way around a recent federal court ruling that overturned its six-month offshore drilling ban in the Gulf of Mexico.

In an effort to appease environmental groups, President Obama's team has drafted a revised version of the moratorium that would continue to keep deepwater activities at a standstill, likely triggering another lawsuit and an expensive court battle.

This will turn an environmental disaster into an economic catastrophe.

In the ruling that knocked down the drilling ban, U.S. District Court Judge Martin Feldman wrote that companies working in the Gulf's offshore oil and gas fields would, in effect, be punished for "an invalid agency decision to suspend drilling of wells in depths of over 500 feet."

To read more — Go Here Now.


Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Obama Ignores Real War on Women

Monday, 24 Sep 2012 20:55 PM

For the greater part of this election cycle, we’ve heard a good deal from the left about a fictional Republican “war on  . . .

Tropical Storm Could Drench Republican Convention

Tuesday, 21 Aug 2012 11:20 AM

A tropical storm brewing in the Atlantic could dump some serious rain on the GOP parade.
 . . .

Mudslinging Now Par for Obama's Course

Thursday, 19 Jul 2012 09:49 AM

For Obama, there’s a pretty perfect place to park his own shortcomings or vulnerabilities: in the driveway of GOP candid . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved