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Energy

Another Court Rejects Obama Oil Rig Shutdown

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By Douglas A. McIntyre Updated Published
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Obama may never get his way as he tries to shut down deepwater drilling in the Gulf as a reaction to the BP disaster

An appellate court upheld a ruling the the government does not have the right to close the operations of companies drilling in the region.A federal appeals court rejected a bid by the federal government to restore a moratorium on offshore oil drilling, reports said late Thursday.The decision was handed down by a three-judge panel for the 5th U.S. Circuit Court of Appeals. The Obama administration had sought a stay of a lower-court ruling that lifted a moratorium that was established in the wake of the massive oil spill in the Gulf of Mexico according to MarketWatch.

The Administration has repeatedly said it will issue a new order to prevent further drilling.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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