BP (NYSE:BP) Sued by Environmental Groups Over Wildlife

Based on damage to the ecosystem of the Gulf of Mexico, and alleged harm to so-called endangered species, a number of environmental groups sued BP (NYSE:BP).

Suing the energy giant are Save the Manatee Club Inc., Gulf Restoration Network Inc. and Defenders of Wildlife.

In the lawsuit they claim BP violated the Endangered Species Act.

They want BP to be forced to restore the habits of the species, and ease the impact of the oil spill on wildlife in the region.

According to the lawsuit, there are a minimum of 27 animal species that are endangered or threatened in the region. Included among them are bird species, turtles and whales.

I wonder who's going to start suing the windmill owners who are causing extraordinary damage to birds and bats, far more in one windmill farm than the entirety of the BP oil spill did to the Gulf.

Obama Bans Drilling Of Offshore Oil Wells, Huge Blow To Shell (LSE:RDSA)

An aide of President Obama, under anonymity said, Obama is going to announce that he will not let Shell Oil Company (LSE:RDSA) continue exploratory drilling off the coast of Alaska. At least until the commission, in charge of "how to prevent this from ever happening again," is able to do a full review. This is just one of the topics Obama will cover at his press conference this afternoon.

The President is also going to announce that intends to extend an existing memorandum for six months on any new drilling. He will also cancel lease sales planned for August off the Coast of Virginia as well as off the Coast of Alaska. The sale in Virginia was highly supported by state officials, until environmental groups as well as the large military population did not share the same opinion.

These announcements from the president are expected to be meet with some resistance. Like from the energy industry officials who feel like the effects of the Deepwater Horizon incident should not prompt a nationwide ban on offshore oil and gas drilling.

Shell officials have stated that they should not have the same restrictions because their plans were to drill in shallower water unlike BP.