With the Gulf of Mexico dominating U.S. news, now a federal court judge has overturned the ban on drilling imposed by President Obama after the oil spill. The explosion which triggered a massive oil spill in the month of April in the Gulf of Mexico caused Obama to put the six month moratorium in place.
Bobby Jindal the Governor of Louisiana believes that the long term ban is going to cause more harm than good to the local communities who are faced with losing their jobs.
The opinion of Mr. Jindal was backed by Martin Feldman, the federal judge who overturned the six month ban on drilling in a recent judgment.
The negative impact of the six month ban is being seen as a major economic drawback. However despite the lift on the ban, the resumption of exploration activities could take a while as there are a number of uncertainties ahead.
Companies may not be quick to invest under the circumstances considering that the Obama regime may go to court and appeal to uphold the ban. Or the Interior Department could rewrite the moratorium terms and craft a narrower suspension of drilling orders.