Obama’s Illegal Moratorium Forces Major Drilling Company to Go Bankrupt
Remember: When Barack Obama, the worst jobs president since the Great Depression, talks about creating jobs… He’s not telling the truth.
In May, Barack Obama announced that he would limit new oil drilling in the Gulf of Mexico. Barack Obama knew his offshore drilling moratorium would cost at least 23,000 jobs but went ahead with it anyway. After all, what’s another 23,000 jobs when you’ve lost several million already?
In June it was reported that Team Obama fudged a report to support their drilling moratorium in the Gulf of Mexico.
But this didn’t stop the Obama Administration. These radicals have still have not lifted their deepwater-drilling moratorium. This illegal moratorium forced a major drilling company to go bankrupt this week.
The American Thinker reported:
On top of tens of thousands of workers losing their jobs when Obama imposed a drilling moratorium by executive order (and fudging what scientists and experts believed in order to justify his moratorium) now comes news that Seahawk Drilling, a major publicly-held drilling services company, has declared bankruptcy due to the sharp decline in Gulf drilling work.
From USA Today:
Seahawk Drilling Inc. said it has filed for bankruptcy protection and plans to sell its fleet of offshore drilling rigs to a competitor for $105 million.
Seahawk, which announced the deal with Hercules Offshore Inc. Friday, has been hurt by a slowdown in Gulf of Mexico drilling after the BP oil spill last April. The government halted drilling in deep waters and imposed tough new rules that have curtained all energy exploration in U.S. waters.
Do you suppose this will force the Obama Administration to rethink their drilling policy?
Don’t count on it.