Obama to Reopen Oil Drilling

According to a report from The Wall Street Journal, the Obama administration, facing rising anger on the Gulf Coast over the loss of jobs and income from a drilling moratorium, said on June 7 that it would move quickly to release new safety requirements that would allow the reopening of offshore oil and gas exploration in shallow waters. Gulf Coast residents, political leaders and industry officials said delays in releasing the new rules, along with the administration's six-month halt on deepwater drilling—both issued amid public pressure—threatened thousands of jobs.

(Source: The Wall Street Journal)