drilling ban

In a move aimed at boosting economic activity, the Obama administration has reopened the Gulf of Mexico to oil and gas drilling about six weeks ahead of schedule. The Gulf had been closed to drilling after the three-month BP oil spill, the worst such spill in history.

BP (BP) warned that any legislation that stops it from drilling for oil in the Gulf of Mexico could prevent the oil giant from paying out compensation related to this year's oil spill. Congress is currently considering legislation that would bar any company from receiving offshore drilling...