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A federal appeals court last night upheld a lower court ruling against the moratorium on...

A federal appeals court last night upheld a lower court ruling against the moratorium on deepwater drilling, but related stocks aren't reacting to the news one hour into the session. The U.S. government has said it will simply issue a new ban. (ETF: OIH)
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Comments (9)
  • nyuszika45
    , contributor
    Comments (633) | Send Message
    Gee, one would almost wonder if the government was holding a "short" position on oil stocks. It is almost as though they are willing to provide any help toward driving them into less costly territory. The question then becomes: "Help for whom?"
    9 Jul 2010, 10:41 AM Reply Like
  • Richard Mackenzie
    , contributor
    Comments (453) | Send Message
    I would think that if the administration were serious, all they would have to do is revoke drilling permits based on fraudulent drilling permit applications. Anyone think they couldn't find fraudulent claims being made in each and every application if they went back looking for it?


    Am I crazy? I would think that just the threat of doing this would make the people challenging the moratorium in court back off real fast. That it's not being done means the administration doesn't really want to seriously address the issue.
    9 Jul 2010, 10:44 AM Reply Like
  • nyuszika45
    , contributor
    Comments (633) | Send Message
    Do we not remember the pledge while the president was campaigning in new Orleans, to wit: "never, again..."


    Well, "never" seems to come around awfully quickly these days. The administration has dragged its heels, done as little as possible, shown its level of concern while playing golf [sic], so one begins to wonder what all this is about since it obviously isn't about dealing with a natural or unnatural disaster.


    And is the media roasting him the way they roasted George over Katrina? Right.
    9 Jul 2010, 10:56 AM Reply Like
  • Wyatt Junker
    , contributor
    Comments (4501) | Send Message
    We don't need courts. That's what dictatorships are for.
    9 Jul 2010, 10:59 AM Reply Like
  • Alex Kaplan
    , contributor
    Comments (217) | Send Message
    I am long oil and welcome the ban on deep water and off shore drilling. Hello!!! Are we oil investors familiar with basic supply/demand concepts?! Yes, that's right, the moratorium might actually spike the price of oil. Gov't short oil, no, no way.


    In truth it appears that the moratorium has not been a factor on price...I wish though.
    9 Jul 2010, 11:02 AM Reply Like
  • sqdeal
    , contributor
    Comment (1) | Send Message
    guess once again the administration just won't take no for an answer
    it is reassuring to know the white house continues to know what is best for us and will cram it down out throats if they don't get their way
    9 Jul 2010, 11:07 AM Reply Like
  • Mad_Max_A_Million
    , contributor
    Comments (1174) | Send Message
    It amazes me how so many people drink their Kool-Aid while reading the NYT. Everything the POTUS and his troupe are doing makes perfect sense once you understand what they are and where they intend to take us.


    Definition of DUMB: Picking a fight with big oil in an election year. These circus clowns are not thinking outside of the box.
    9 Jul 2010, 11:25 AM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
    The rigs are already in the process of going to Brazil...or other locations..he does not like oil..or coal..see the new EPA regulations..that will shut down many coal fired elec plants...its going to get ugly here in the USA...very Ugly..the USA is dying....a new third world country...Obama wants it that way..its more fair...
    9 Jul 2010, 11:26 AM Reply Like
  • Duude
    , contributor
    Comments (3403) | Send Message
    When legislation doesn't work for you, you go through the courts. When the courts don't work for you, you go through legislation. If neither work for you, you lobby network TV for free prime time air to denounce your opponents and lobby the American people for support.
    We all know the drill.
    9 Jul 2010, 11:28 AM Reply Like
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