Sign in to comment!

Menu
Home

Disasters

Federal judge to hear bid to overturn offshore drilling moratorium in Gulf of Mexico

NEW ORLEANS (AP) — Several oil service companies are asking a federal judge to block the Interior Department from enforcing a six-month moratorium on new deepwater drilling projects in the Gulf of Mexico.

U.S. District Judge Martin Feldman is scheduled to hear arguments Monday in New Orleans on Hornbeck Offshore Services' bid for lifting the moratorium.

A lawsuit filed by the company claims the government arbitrarily imposed the moratorium and suspended drilling at 33 existing exploratory wells without any proof that the operations posed a threat.

Hornbeck says the moratorium could cost Louisiana thousands of jobs and millions of dollars in lost wages. Government lawyers say the company is making "alarmist and speculative" allegations about the potential economic impact of the move.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.08% dw 4.12%  
15 Y Fixed Graph 3.23% up 3.21%  
30 Y Fixed Jumbo Graph 4.51% dw 4.89%  
5/1 ARM Graph 3.46% up 3.30%  
5/1 Jumbo ARM Graph 3.44% dw 3.57%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.30% up 4.29%  
$50K HELOC Graph 4.06% up 4.04%  
$30K Loan Graph 5.10% -- 5.10%  
$50K Loan Graph 4.53% -- 4.53%  
$75K Loan Graph 4.53% -- 4.53%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.94% up 2.93%  
36 M Used Graph 3.44% dw 3.46%  
48 M New Graph 3.23% up 3.22%  
48 M Used Graph 3.01% up 2.99%  
60 M New Graph 3.25% up 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.38% up 0.37%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.51% up 1.47%