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Deepwater Drilling Ban Lifted by New Orleans Federal Judge

Laurel Brubaker Calkins and Margaret Cronin Fisk , Bloomberg | 6-22-2010
A New Orleans federal judge lifted the six-month moratorium on deepwater drilling imposed by President Barack Obama following the largest oil spill in U.S. history. Drilling services shares jumped on the news.

Obama temporarily halted all drilling in waters deeper than 500 feet on May 27 to give a presidential commission time to study improvements in the safety of offshore operations. More than a dozen Louisiana offshore service and supply companies sued U.S. regulators to lift the ban……. Read More