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US President Barack Obama acknowledged during a June 4 meeting in New Orleans that a 6-month deepwater drilling moratorium would have adverse economic impacts on Louisiana.
Production of oil from the US Gulf of Mexico will drop by an average 26,000 b/d during the fourth quarter and roughly 70,000 b/d during 2011 as a result of the Obama administration’s 6-month moratorium on deepwater drilling, the US Energy Information Administration forecasts.
Responding to congressional Republicans' calls that he make the first move, US President George W. Bush has lifted a presidential ban on oil and gas acreage leasing on the Outer Continental Shelf.
US Interior Sec. Ken Salazar ordered a second deepwater oil and gas drilling moratorium based on drilling configurations and technologies instead of water depths.
US Sen. Mary L. Landrieu said there are eight ways offshore energy production could move safely forward without imposing a 6-month drilling moratorium in water deeper than 500 ft that could cost Gulf Coast residents tens of thousands of jobs.
In Al Gore's America, it's okay to drill for and produce hydrocarbons from marine locations off Texas, Louisiana, Mississippi, and Alabama, but immoral to do so anywhere else. Al Gore's America is not one that Americans should relish.
The Obama administration’s deepwater drilling moratorium could cut net oil and gas spending on the Gulf Coast by $1.8 billion and temporarily cost 8,000-12,000 jobs, an administration official told the US Senate Small Business and Entrepreneurship Committee.
A group of 15 environment ministers representing European countries with an interest in the northeast Atlantic Ocean opposed a proposal for a moratorium on deepwater oil drilling in the area.
US President Barack Obama's May 30 ban against drilling in US waters deeper than 500 ft because of the Macondo blowout in the Gulf of Mexico helped drive up natural gas prices in the first days of June, industry analysts reported.
Production of oil from the US Gulf of Mexico will drop by an average 26,000 b/d during the fourth quarter and roughly 70,000 b/d during 2011 as a result of the Obama administration's 6-month moratorium on deepwater drilling, the US Energy Information Administration forecasts.