US Oil Industry Wins Court-Granted Delay Until May to Avert Gulf of Mexico Shutdown

Oct 21, 2024, 10:29 PM

The US oil industry has won a reprieve to avert a potential shutdown of production in the Gulf of Mexico. A federal judge granted the National Marine Fisheries Service more time to assess how endangered species should be protected in the area. This decision delays the expiration of agency regulations that were set to expire in December, now extended until May. Environmental groups have warned that this delay could lead to the extinction of a rare species of whale. The expiration of these regulations could have halted Gulf of Mexico production, potentially leading to hundreds of thousands of job losses and a monthly economic impact of $2.8 billion.