Interior Dept. To Issue New Ban On Deepwater Drilling

The U.S. Department of the Interior plans to issue a new ban on deepwater drilling.

On Thursday, a federal appeals court ruled against its earlier six-month moratorium.

More than a dozen oil industry companies filed a lawsuit last month claiming the drilling ban threatened their livelihoods.

Federal officials say a moratorium is necessary while it studies deepwater drilling risks in the wake of the BP oil spill.

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