U.S. okays first deepwater exploration since BP spill

The U.S. Interior Department said on Monday it approved Shell's plan for deepwater oil and natural gas exploration in the Gulf of Mexico, the first such exploration plan with a complete environmental assessment since the BP oil spill. The department imposed tougher safety and environmental review requirements for exploration plans and drilling permits following the massive oil spill last summer. "This exploration plan meets the new standards for environmental review and marks another important step toward safer deepwater exploration," said U.S. Interior Secretary Ken Salazar...more