Obama's Moratorium Request Rejected

More back and forth on offshore drilling: A U.S. Court of Appeals has rejected President Obama’s request to overturn a ruling that lifted a temporary moratorium on deepwater drilling. The White House has requested a six-month suspension of drilling while investigting the Deepwater Horizon explosion and to allow time to put together new safety regulations. An appeals court in New Orleans rejected the request Thursday, which will likely set off a new set of moratorium regulations by the Interior Department. Oil-drilling companies have criticized the suspension, arguing that it is bad for the local economy.