Landrieu, business group backs lifting moratorium

U.S. Sen. Mary Landrieu and the U.S. Chamber of Commerce have filed court papers in support of lifting the moratorium.

In this case, Landrieu and the Chamber of Commerce are supporting U.S. District Judge Martin Feldman’s ruling that shot down the Obama administration’s decision to put a halt to deepwater drilling for six months.

The fate of the moratorium is now in the hands of the 5th Circuit Court of Appeals in New Orleans.

The court filing says that “the economic losses that will be inflicted by the moratorium are nothing short of staggering.”

The Obama administration has said the moratorium is necessary to safeguard the Gulf of Mexico from another oil spill while regulators work to do a better job of overseeing deepwater drilling.