It's Obama's fault says U.S. Oil company

Another U.S. corporation hits the dust and this one got no stimulus from Obama--

Houston-based ATP Oil & Gas Corp. filed for Chapter 11 bankruptcy Friday, citing debt it said it incurred because of the five-month moratorium on much U.S. offshore drilling after the deadly 2010 Gulf of Mexico oil spill. And gas prices just keep going up.

The U.S. is relying more on oil from Saudi Arabia--Gulf oil now composes 23 percent of total U.S. imports, according to the Times, as opposed to 17 percent late last year.

Read more... about President Obama killing another U.S. energy company.