re: Percentage of U.S. oil produced by Gulf of Mexico?

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The moratorium is on deep water drilling only.

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Incorrect. It was thought by this originally, but when a shallow water well got a permit, the White House came down with the quickness and said ALL offshore drilling is banned for at least 6 months.

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It's only a slap in the face to the people who are too stupid to see that the ban is a good thing and will not significantly decrease oil production since there will still be other operating wells.

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The GOM production has been declining for years. Deepwater drilling was going to reverse that decline, and decrease our dependence on foreign oil thanks to the ungodly massive reservoirs that were being found that there....and where only getting bigger the further out they looked.

There is zero legitimate reason to think that the ban is a good thing. Especially with the shoot from the hip attitude that the administration is taking. If it would ONLY be for 6 months, it might not be a problem. But I promise you, they will throw in some regulations that serve zero purpose other than to place a de facto ban on deep water drilling...without actually having to deal with the negative publicity of banning it outright (for example, requiring the acoustic shutoff system...this is probably the likeliest way it will take place).