The proposed settlement is heralded by some as a major victory, supposedly securing $100 million for the state to use for coastal restoration. In reality, the proposed settlement, if adopted, would yield nowhere near $100 million and divert much of the money it did raise to unrelated government spending. Two key flaws undermine the settlement’s...View Report
Up to 20 oil rigs could leave the Gulf of Mexico, in addition to the 11 that have already left, since the Obama Administration imposed a moratorium on deepwater oil and gas drilling in May 2010. Sen. Vitter asks about the impact on small business, and the cost of green lawsuits in letter to feds.
Ten oil rigs have left the Gulf of Mexico since the Obama Administration imposed a moratorium on deepwater oil and gas drilling in May 2010 documentation from Sen. David Vitter's (R-La.) office shows. Companies will not recommit themselves to the Gulf region until the "political uncertainty" recedes.