The end of the ban means activity will resume on about 30 oil rigs similar to the one pictured above during the next several months. The ban was lifted about 50 days before it would have expired. (Creative Commons)
Some of the oil drills that have been idle since April because of a temporary deepwater drilling ban could resume operations by the end of the year, under a plan announced Tuesday by President Barack Obama.
The White House issued a moratarium on drilling following the BP oil spill. Congress, the White House and the Interior Department spent the summer developing new regulations and safety inspections that will allow the oil rigs to go back into service. Companies may now start filing new paperwork and meeting the tougher regulations.
Reach executive producer Paresh Dave here. Follow him on Twitter: @peard33.
Don't forget to bookmark Neon Tommy in your Web browser.