News

Path Clears for Deep-Water Drilling

Reading: Path Clears for Deep-Water Drilling

 Loading ...

Deep-water drilling in the Gulf of Mexico could resume within weeks under a policy announced Monday by the Obama administration, which has come under increasing criticism from the oil industry and politicians in the region over the impact of the drilling halt.

Oil and gas exploration in the Gulf’s deep waters has been stopped since May, when President Barack Obama announced a six-month drilling moratorium in the wake of the April explosion of the Deepwater Horizon drilling rig, which killed 11 workers and set off the worst offshore oil spill in U.S. history.

The administration lifted the ban in October—a month ahead of schedule—but hasn’t issued any permits for new deep water oil wells.

Continue Reading at Wall Street Journal.

You might also like

UK Lawmakers Question Deep Water Drilling Safety U.K. lawmakers Thursday raised serious doubts about whether the oil industry is prepared to tackle a...

New oil plume evidence uncovered As if the pictures of birds, fish and animals killed by floating oil in the Gulf of Mexico is not disturbing...

Giant Plumes of Oil Found Under Gulf of Mexico Scientists are finding enormous oil plumes in the deep waters of the Gulf of Mexico, including one as...

Insurers Raise Oil Rig Prices 50% After BP Spill, Moody’s Says Insurers are charging 50 percent more for policies covering oil rigs in deep water after an explosion...