The owner of the offshore rig involved in the massive Gulf oil spill sharply criticized the U.S. government's six-month ban on deepwater drilling Tuesday.
Transocean Ltd. president Steven Newman told reporters at an oil industry conference in London that there were things President Barack Obama's administration "could implement today that would allow the industry to go back to work tomorrow without an arbitrary six-month time limit."
Transocean owns the Deepwater Horizon rig, which was run by British oil company BP PLC. An April 20 explosion on the rig killed 11 workers and set off the worst offshore oil spill in U.S. history.
A federal judge in New Orleans is considering whether to lift the moratorium, imposed after the disaster began. Judge Martin Feldman said he will decide by Wednesday.
During a two-hour hearing Monday, plaintiffs attorney Carl Rosenblum said the 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. [...] go read the rest
But, but, but the moratorium didn't happen, did it?
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