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Obama Faces Another Setback on Drilling Moratorium

HeadlineJun 25, 2010

A federal judge has rejected the latest attempt by the Obama administration to continue its six-month ban on deepwater oil drilling in the Gulf of Mexico. The White House imposed the ban last month as the BP oil spill spiraled into what many have called the worst environmental disaster in US history. On Thursday, US District Judge Martin Feldman refused to stay his June 22 order lifting the moratorium. A Reagan appointee, Feldman has extensive stock holdings in energy companies, including Transocean, which owned the Deepwater Horizon oil rig where the explosion occurred, and Halliburton, which also performed work at the site. Feldman also owns stock in two of BP’s largest shareholders, BlackRock and JPMorgan Chase.

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