Gallery: Drilling in the Gulf of Mexico on the Rise as Oil Prices Conti...

 

After the Deepwater Horizon oil spill in the Gulf of Mexico two years ago — which was the worst oil spill in the country’s history — President Barack Obama placed a moratorium on all new offshore drilling ventures to provide time to research safer drilling practices. That moratorium was lifted about a year ago, and now drilling is back in business and going strong. Some say that the amount of oil rigs in operation will soon surpass the number of rigs drilling before the accident. At the forefront of the new boom is our old friend British Petroleum, the company that is currently settling out of court with victims of the Deepwater Horizon disaster. BP currently has five oil rigs open and drilling in the Gulf, and it expect to have three more fired up and ready to go by the end of the year.

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