Saturday, March 05, 2011

Business As Usual

11 months after the BP oil disaster, the Obama Administration approved the first deepwater drilling permit for the Gulf of Mexico. The official announcement from the Bureau of Ocean Energy Management, Regulation and Enforcement cited Noble Energy Inc. as the permit holder. What was left out of the press releases is that BP owns 46.5% of the well being drilled; Noble Energy actually owns about a quarter of the well, at 23.25%.

So, really, the Obama Administration issued a drilling permit to a well operated by Noble Energy, but majority-owned by BP. It's just that no one wants to mention it. (Not even the Associated Press.)

Maybe BP figured out their precautions. Maybe not. We'll see.

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