The Obama administration, under heavy demands from the oil industry and others in the Gulf Coast, today lifted the moratorium on deep water drilling that it imposed in the wake of the disastrous BP oil spill. The six-month ban had been scheduled to expire Nov. 30, but Interior Secretary Ken Salazar said he was moving up that deadline because new rules forced after the spill have strengthened safety measures and reduced the risk of another catastrophic blowout.
"The policy position that we are articulating today is that we are open for business," Salazar told a news conference. The action comes as a federal judge weighed a drilling company's bid to overturn the moratorium. It also comes less than a month before midterm elections in which Democrats face widespread criticism for overextending government actions on the economy, including the health care overhaul, the economic stimulus plan and the drilling moratorium.
"The policy position that we are articulating today is that we are open for business," Salazar told a news conference. The action comes as a federal judge weighed a drilling company's bid to overturn the moratorium. It also comes less than a month before midterm elections in which Democrats face widespread criticism for overextending government actions on the economy, including the health care overhaul, the economic stimulus plan and the drilling moratorium.
A federal report said the moratorium likely caused a temporary loss of 8,000 to 12,000 jobs in the Gulf region. Drilling companies must meet a host of new safety regulations before they can resume operations including a requirement that the CEO of the company responsible for the well certifies it has complied with all regulations. That could make the person at the top of the company liable for any future accidents.
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