Posted: Oct 12, 2010 5:38 PM by Mike Steele
Updated: Oct 12, 2010 7:23 PM
The Obama administration has lifted its controversial moratorium on deep water drilling.
It was put into effect in the wake of the Deepwater Horizon explosion and spill in the Gulf of Mexico. The ban was scheduled to end Nov. 30th. Interior Secretary Ken Salazar said he moved up the deadline because new rules imposed after the spill have strengthened safety measures.
Many reps from oil field related companies in Louisiana said lifting the ban may not cause immediate action. They said it depends on new safety regulations and the permit process for new drilling. Officials with the Louisiana Oil and Gas Association said the permit process could drag on, offering little help to the industry. They hope companies will be educated about the process to get things back on track.