U.S. District Judge Martin Feldman said in his ruling that the Interior Department failed to...

|By:, SA News Editor

U.S. District Judge Martin Feldman said in his ruling that the Interior Department failed to provide adequate reasoning for the moratorium on deepwater drilling in the Gulf. He said it seemed to assume that because one rig failed, all companies and rigs posed an imminent danger. But an immediate spike in share prices of offshore drillers quickly subsides.