Oil Exploration Approval by U.S. ‘Dramatically’ Slow, IHS Says
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The Obama administration is “dramatically” slow after lifting a drilling ban in approving offshore oil exploration, limiting the nation’s ability to increase domestic energy output, IHS Inc. said.
The Bureau of Ocean Energy Management, Regulation and Enforcement in six months since the moratorium was lifted approved about 85 percent fewer exploration and development plans for the Gulf of Mexico than the average from 2005 to 2010, according to the report today by Englewood, Colorado-based IHS.