Bloomberg | Obama Said to Use 1953 Law to Restrict Offshore Oil Drilling Bloomberg President Barack Obama is preparing to block the sale of new offshore drilling rights in most of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to people familiar with the decision ... President Obama expected to ban oil drilling in large areas of Atlantic and Arctic oceans OFFSHORE DRILLING Obama likely to ban Arctic, Atlantic oil activity Obama Reportedly Set To Permanently Block Arctic, Atlantic Oil Drilling |