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Offshore Drilling Ban: Judge Mulls Whether To Overturn Six-Month Moratorium

06/22/2010 10:23 am 0 comments

Source: AP / The Huffington Post

New Orleans – As a federal judge mulls whether to lift a six-month moratorium on new deepwater drilling in the Gulf of Mexico, the administrator of a $20 billion fund to compensate oil spill victims pledged Monday to speed payment of claims.

Judge Martin Feldman said he will decide by Wednesday whether to overturn the ban imposed by President Barack Obama’s administration after the Deepwater Horizon rig explosion off the Louisiana coast.

During Monday’s two-hour hearing in New Orleans federal court, plaintiffs’ attorney Carl Rosenblum said the six-month suspension of drilling work could prove more economically devastating than the spill itself.

“This is an unprecedented industrywide shutdown. Never before has the government done this,” Rosenblum said.

To read this article in its entirety visit The Huffington Post.

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