Thursday, September 2, 2010

Hornbeck (NYSE:HOS) Up as Judge Rules Lawsuit Against Moratorium Can Go Forward

US District Court Judge Martin Fedlman rejected the attempt by the Obama administration to have a lawsuit dropped from Hornbeck Offshore Services Inc. (NYSE:HOS) and others, concerning the misguided oil moratorium.

The disingenuous second moratorium by the Obama administration was an attempt to circumvent after Judge Feldman blocked the implementation of the drilling ban.

Lawyers from the Justice Department attempted to persuade the judge that the lawsuit wasn't relevant any longer because of the second moratorium imposed by the Interior Department.

Feldman slapped that ridiculous notion down by saying the second moratorium was "substantially the same as the first." It was the exact same thing except being called the second moratorium.

Concerning the first moratorium, Feldman rightly noted the Obama administration hadn't taken into consideration the economic impact the moratorium would have on the Gulf Coast states.

No comments:

Post a Comment