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Story Archives: Government threat is enough to kill drilling


Government threat is enough to kill drilling
by Jeff David - posted Thursday, July 15th, 2010 @ 12:22 pmE-mail Story E-mail Story | Print Story Print Story 
The State of Louisiana and a group of companies with interests in deep water drilling won another round in federal court last week, but the impact of Interior Secretary Ken Salazar's moratorium remains despite its losing day in court.

Investors and oil companies alike continue to be hesitant to expend funds on deep water wells for fear that the federal government will ultimately find a way to interrupt activity, thus sending millions of dollars down the drain. The chilling effect of Salazar's attempted halt on drilling looms over all even though the moratorium itself did not stand up to legal scrutiny.

After federal District Court Judge Martin Feldman struck down Salazar's attempt to dry dock more than 30 licensed deep water drilling projects, the Obama administration swore it would appeal the ruling. Last Thursday a three-judge federal panel from the Fifth Circuit in New Orleans heard oral arguments from all sides and quickly issued a 2-1 ruling upholding Feldman.

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