Sen. Vitter and Rep. Olson Introduce Legislation to Lift Offshore Drilling Moratorium

(Washington, D.C.) – Senator David Vitter (R-LA) and Rep. Pete Olson (R-TX) today both introduced legislation to lift the Obama Administration’s six month offshore drilling moratorium, put in place in the wake of the Deepwater Horizon oil spill. Offshore drilling provides 30% of US oil production, is the second largest source of revenue to the federal government at $6 billion annually and has a direct employment of 150,000 individuals. The six month moratorium will result in rigs moving overseas to continue operations and increasing US reliance on foreign sources of oil.