Deep Gulf oil drilling thrives again

Associated Press
This photo taken Oct. 27, 2011, shows one of the decks aboard the Perdido platform, in the Gulf of Mexico, 200 miles south of Galveston, Texas. Two hundred miles off the coast of Texas, ribbons of pipe are reaching for oil and natural gas deeper below the ocean's surface than ever before. (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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