Deep-water oil drilling ban lifted in Gulf of Mexico

The Obama administration has lifted the six-month moratorium on deep-water oil drilling in the Gulf of Mexico that was imposed after the BP oil spill in April.

The administration has been under heavy pressure from the industry and others in the region to lift the ban on the grounds that it has cost jobs and damaged the economy. A federal report said the moratorium likely caused a temporary loss of 8,000 to 12,000 jobs in the Gulf region. While the temporary ban on exploratory drilling is lifted, drilling is unlikely to resume immediately.

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