Monday, July 02, 2012

More of Gulf of Mexico to Open for Drilling

The Obama administration has announced plans to to expand drilling activities in the Gulf of Mexico, even as lingering effects of the disastrous 2010 Deepwater Horizon oil spill are still felt along parts of the Texas coastline. Interior Secretary Ken Salazar said the new program opens up the vast majority of known offshore oil and gas resources for development. But he acknowledged that many resource-rich areas overlap with environmentally fragile ecosystems. "We are going to go ahead and proceed," Salazar said, noting that he was confident that companies will implement rigorous safety standards. Under the plan, all areas in the Gulf with the highest-known resource potential will be available for oil and gas development. The proposed program will schedule 15 potential lease sales between 2012 and 2017, including 12 in the Gulf of Mexico...more

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