Deep Gulf oil drilling thrives again

Associated Press
This Oct. 27, 2011 photo, shows the drilling rig aboard the Perdido platform, in the Gulf of Mexico, 200 miles south of Galveston, Texas. The platform is producing oil from a nearby field that is under the deepest water ever, at 9,682 feet. (AP Photo/Jon Fahey)

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The Obama administration had halted drilling in the Gulf of Mexico after the massive BP oil spill. But the first new drilling permit was issued in March, and now the Gulf is humming again as oil executives describe it as the world's best place to drill.

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