Obama Halts Shell's Plans For Drilling In Arctic

Law360, New York (May 27, 2010, 9:27 AM EDT) -- Facing criticism over his handling of the massive oil spill in the Gulf of Mexico, President Barack Obama on Thursday halted Shell Oil Co.'s plans to begin exploratory drilling in the Arctic Ocean and suspended action on dozens of deep-water exploratory wells currently being drilled.

At a press conference, Obama also said certain other lease sales would be canceled and that a moratorium would continue on new permits for deep-water wells.

Domestic oil production remains an import part of the country's energy mix, but the government...
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