First Oil Rig Leaving The Gulf Of Mexico Due To Obama ‘Moratorium’

The first oil rig in the gulf has set sail to Egypt due to the legal battle that Obama is waging. Via Ace:

The Gulf economy won big when the district court knocked down Obama’s drilling ban as “arbitrary and capricious” and won again at the Fifth Circuit, which refused to keep the ban in effect during the appeal. Unfortunately, the Obama Administration keeps signaling that it won’t allow drilling no matter what the courts say. On the day the Fifth Circuit ruled against, the Administration announced that if any company attempted to resume drilling it would reissue its drilling moratorium, forcing the issue back to the courts again.

That is the very definition of “arbitrary and capricious” government action, but the uncertainty it creates is more than enough to depress economic activity in the Gulf.

This is going to cost tens of thousands of jobs and will cause serious long term economic damage.