Breaking: Judge blocks Obama’s oil drilling moratorium

Huge news. The headline’s up at Reuters but no story link yet. Will post story when it becomes available …

Update – 2:08 PM: Here it is:

(Reuters) – A judge on Tuesday ruled against the Obama administration’s six-month moratorium on deepwater drilling in the wake of the oil spill in the Gulf of Mexico, a blow to the White House which had hoped the ban would provide time to ensure other wells are operating safely.

A lawsuit was filed by Louisiana-based Hornbeck Offshore Services LLC and was joined by more than a dozen companies involved in offshore drilling operations to reverse the drilling ban imposed by the U.S. Department of Interior.

A federal judge in Louisiana granted the drillers’ request for a preliminary restraining order that would prevent the ban from taking effect.

If this sticks even after the White House’s appeal, does this mean that BP can rest a little easier knowing Obama could no longer have them on the hook for the lost wages of these companies as a result of the his moratorium (at least at the point they start back to working)?

Stay tuned …

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