WASHINGTON — The Obama administration announced Monday it is requiring environmental reviews for all new deepwater oil drilling.
For now, new deepwater drilling is under a temporary moratorium in the Gulf. Once that's lifted, though, Interior's new policy is likely to make it much more time-consuming for oil companies to move forward with new deepwater projects, since environmental assessments will be required along the way.
Shallow-water drilling will also be subjected to stricter environmental scrutiny under the new policy.
The American Petroleum Institute said Interior's new rules on environmental reviews could create unnecessary delays without added environmental protection.
so in effect... no more oil well drilling.. .