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Judge Rules Against Drilling Moratorium

2:02 PM, Jun 22, 2010 • By JOHN MCCORMACK
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Bloomberg reports:

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.

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. Government lawyers told U.S. District Judge Martin Feldman that the sinking of the Deepwater Horizon rig off the Louisiana coast in April was a “game changer’’ that exposed the risks of offshore oil exploration.

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