UPDATE 1-White House: no new drilling until oil spill review

(Updates with background)

WASHINGTON, April 30 (BestGrowthStock) – The White House on Friday
said there would be no oil drilling authorized in new areas
until a review of the spill in the Gulf of Mexico has been
conducted.

President Barack Obama in March unveiled plans for a
limited expansion of offshore oil drilling, in part to try to
win Republican support for climate change legislation.

The oil spill that is threatening the coast of Louisiana
has provided ammunition to critics of Obama’s proposal, and the
White House sought to make clear there would be no new drilling
authorized until the cause of the spill had been reviewed.

“No additional drilling has been authorized and none will
until we find out what happened here and whether there was
something unique and preventable here,” White House senior
adviser David Axelrod said on ABC’s “Good Morning America.”

“No domestic drilling in new areas is going to go forward
until there is a adequate review of what’s happened here and of
what is being proposed elsewhere,” he said.

The White House is also making clear that it is moving
quickly to help the situation. President George W. Bush was
sharply criticized for a federal response that was seen as too
slow in the aftermath of Hurricane Katrina.

Axelrod said the Coast Guard was on the scene almost
immediately after the spill, the deputy Interior secretary was
on the ground the next day, and there had been coordination
with local authorities and BP (BP.L: ), the majority owner of the
offshore well.

“What I’m concerned about is that we do every single thing
we can to remediate this problem, to stop the flow, and that’s
what’s going on,” Axelrod said.

Investment Research

(Reporting by Tabassum Zakaria; Editing by Stacey Joyce)

UPDATE 1-White House: no new drilling until oil spill review