Yeah, so new offshore oil development in America is dead for the time being.
The White House has just put out word (via CNBC) that there will be no new drilling until there is an investigation and understanding into the cause of the spill that’s devastating the Gulf’s environment. (For a depressing infographic, see this at NYT).
As we said yesterday, the big new offshore drilling announcement that Obama made just last month looks like it’s off the table.
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