Obama’s Gulf Moratorium Is Equal To 1/3 The Lost Oil From Libya

deepwater explosion

[credit provider=”US Coast Guard via Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Deepwater_Horizon_offshore_drilling_unit_on_fire.jpg”]

The slow return to normalcy in the Gulf, following last year’s BP disaster, and the subsequent moratorium on new permits is having a real impact on global oil output.The WSJ grabs a good stat:

The drilling suspension, along with a new, slower permitting process, will result in the loss this year of about 375,000 barrels of oil a day, according to energy consultancy Wood Mackenzie. That is roughly equivalent to one-third of the production in Libya that remains shut down because of political turmoil there.