Despite Offshore Oil Drilling Moratorium Due To BP Oil Spill, Permits Being Issued

It wasn’t too long ago that Interior Secretary Ken Salazar said that an extended moratorium of 6 months on deep water drilling was needed while the Feds reviewed and investigated.  So, it’s not surprising that folks are up in arms that the agency issued a new offshore oil drilling permit to Bandon Oil & Gas today.  Adding insult to injury, the permit was issued for a site about 50 miles off the coast of Louisiana.

So what’s the deal?  Apparently, the restriction is for sites greater than 500 feet while the Bandon Oil site is 115 deep.  However, as the New York Times reports, permits are still being issued because the moratorium only bans new drilling, not existing projects.  There are a host of other issues that clearly indicate offshore drilling is still alive and well.  It appears the government bark is more vicious than its bite and have misled the public on this issue.