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July 7, 2010

Admin Seeks Reinstatement of Deepwater Drilling Ban
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The Obama administration has asked a federal appeals court to reinstate
its six-month ban on deepwater oil drilling in the Gulf of Mexico. The
White House imposed the ban in May as the BP oil spill spiraled into
what many have called the worst environmental disaster in US history. US
District Judge Martin Feldman struck down the ban last month. 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, Black Rock and JPMorgan
Chase. The legal filing comes as the spill continues to spread around
the Gulf, with oil reaching parts of Texas as well as New Orleans’s Lake
Pontchartrain.



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