As bad as the Macondo oil spill is, the prospect that it will lead to tougher regulations that drive exploration out of U.S. waters is stoking fears and reminders of worse oil disasters in other countries.
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Heading Elsewhere
Ban Banned
A federal judge Tuesday blocked a six-month ban on deepwater drilling in the Gulf of Mexico imposed by the Obama administration, though the White House promised an immediate appeal.
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Obama Blasted
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.
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Rumour Control
On a day when BP took a successful step in its most recent effort to cap a runaway Gulf of Mexico oil well, an apparently false rumor about new restrictions on offshore drilling in shallow water drove the price of oil up $1.75 to more than $74 a barrel.
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Rig Blows
At least 12 people are still missing and 8 critically injured after an explosion on a BP Oil Rig in the Gulf of Mexico off Louisiana.
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Doom And Gloom
Norway’s offshore shipping will struggle over the next two years because of a lack of financing and project delays.
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