First deep-water drilling permit issued for Gulf since BP oil spill

Monday, February 28, 2011 - 20:30 in Mathematics & Economics

The new well will track one plugged after a moratorium. Obama administration officials say pressure from courts and Congress did not affect the decision, but that the firm met new safety rules.The Obama administration issued the first new deep-water drilling permit for the Gulf of Mexico since the BP oil spill, stoking cautious optimism Monday among some industry executives and Gulf Coast politicians about local oil and gas exploration.

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