How does a moratorium on offshore oil drilling and exploration in the Gulf of Mexico effect the economy of oil drilling states surrounding the Gulf of Mexico and ultimately the United States economy?  An oil moratorium is defined as a legally authorized period of delay in the performance of a legal obligation or the payment of a debt (merriam-webster).  The oil moratorium was put into place due to the British Petroleum oil spill of 2010.  It was put into place for six months by the Obama Administration and President Obama was willing to extend it for at least another six months once the moratorium ended.  I disagree with the oil moratorium and believe that the Gulf of Mexico should be opened for more drilling and exploration.