Obama loses drilling moratorium appeal

The Obama administration lost its court bid to maintain a six-month moratorium on offshore deepwater drilling which a federal judge ordered lifted last month.
The Fifth Circuit Court of Appeals denied the government's emergency request to stay that judge's order pending appeal.

The motion was denied because the government failed to show "a likelihood of irreparable injury if the stay is not granted," the appeals panel judges wrote in a 2-1 ruling. Continue>> 

Judge halts Obama's oil-drilling ban

A federal judge in New Orleans halted President Obama's deepwater drilling moratorium on Tuesday, saying the government never justified the ban and appeared to mislead the public in the wake of the Gulf of Mexico oil spill. Continued>>

Why the strength of the dollars matters

There is an oversupply of oil on the world market, yet gas prices have not fallen significantly.