drilling moratorium

BP (BP) warned that any legislation that stops it from drilling for oil in the Gulf of Mexico could prevent the oil giant from paying out compensation related to this year's oil spill. Congress is currently considering legislation that would bar any company from receiving offshore drilling...

The Obama administration issued a revised moratorium on offshore drilling Monday that's no longer based on drilling depth. The new edict supersedes a previous ban that called for a blanket offshore deepwater drilling moratorium.

A federal judge strikes down the Obama administration's six-month ban on deepwater oil drilling in the Gulf of Mexico, calling the move "overbearing." The White House will appeal.