The Obama administration on Tuesday plans to announce that it is lifting the moratorium on deep-water oil drilling, after putting in place new rules intended to tighten safety.
President Obama imposed the moratorium after the blowout of a BP well in the Gulf of Mexico on April 20 led to the largest maritime oil spill in American history. But the White House has come under intense pressure from the industry and from regional officials and businesses that have complained about the economic impact.
Full story: White House to Lift Ban on Deep-Water Drilling – NYTimes.com