Former Shell company executive John Hofmeister told CNBC Monday that the Gulf of Mexico drilling moratorium is an example of the “starvation” imposed on the oil, gas, and mining industries by the Obama administration.
“The biggest hole is the regulatory environment that this administration is putting on the hydrocarbon industry,” said Hofmeister, who was speaking from a Kentucky coal-mining region. He is the founder and CEO of a group called Citizens for Affordable Energy.
The moratorium was issued after the BP oil spill in the Gulf of Mexico, which began April 20.