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

deepwater explosion

Photo: US Coast Guard via Wikimedia Commons

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.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.