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U.S. officials saw drilling ban costing jobs: report

Fri, 08/20/2010 - 7:24pm
Reuters

WASHINGTON (Reuters) - Senior U.S. officials expected the deepwater drilling ban to cost about 23,000 jobs and hold up $10.2 billion in investments, The Wall Street Journal reported on Friday, citing federal documents.

The Obama administration issued the initial moratorium in late May after the huge BP Plc oil spill in the Gulf of Mexico. The ban spurred opposition from oil companies and local lawmakers who said it would exact a heavy toll in jobs and hurt crude production in coming years.

After a federal judge threw out the original ban partly on grounds it was economically unjustified, the Interior Department issued a new moratorium on July 12, barring new oil drilling in the Gulf of Mexico through November 30.

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