Friday, November 12, 2010

New deepwater drilling permits: Zilch

President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn't issued any new permits in the Gulf of Mexico.

But with new stricter rules and regulations and bureaucracy for offshore drilling, it is apparent any new permits will take an act of Congress to get through the red tape.

Hopefully, with a Republican Congress, they will deregulate some of the idiotic regulations that is causing the higher price of gas at the pumps.

Read story: New deepwater drilling permits: Zilch