Interior Secretary Ken Salazar made good on his promise Monday and issued a new drilling moratorium. As he stated in a news release:
"I am basing my decision on evidence that grows every day of the industry's inability in the deepwater to contain a catastrophic blowout, respond to an oil spill, and to operate safely."
Of course, the moratorium will do nothing to improve the engineering and geological knowledge required to solve the immediate problem. It won't help the industry contain blowouts. It won't improve spill-response technology. And it won't encourage safer operations. But it will put tens of thousands of Americans out of work, reduce domestic oil and natural gas production and make the United States increasingly reliant on other countries for energy.
API President and CEO Jack Ge... more »
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