Deep Gulf oil drilling thrives again

Associated Press
This Oct. 27, 2011 photo, shows the Perdido oil platform located 200 miles south of Galveston, Texas, in the Gulf of Mexico. The platform is operated by Shell Oil Co. and owned by Shell, Chevron and British Petroleum. (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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