U.S. District Court Judge Martin Feldman has ruled in favor of oil related businesses hoping to end a 6-month moratorium on drilling for oil in deepwater. The ruling just came down in New Orleans.

Read it here:

http://www.laed.uscourts.gov/GENERAL/Notices/10-1663_doc67.pdf

Several oil related service businesses had filed the suit claiming the moratorium unfairly targeted them. The Administration says the moratorium was needed given the devastating Deepwater Horizen explosion and spill.

The White House says it will appeal the ruling immediately.