President Barack Obama's administration will introduce a major new regulation on offshore oil and gas drilling as early as Monday (April 13), the latest rule aimed at preventing well blowouts and explosions of the type that sparked the BP oil disaster in the Gulf of Mexico, The New York Times reports. The report says the new regulation -- the timing of which purposely coincides with the fifth anniversary of the BP disaster -- will tighten standards for blowout preventers, the subsea well equipment that is the last line of defense in the case of an explosion.
The April 20, 2010, explosion of the Deepwater Horizon drilling rig killed 11 workers and set off the worst offshore oil spill in U.S. history. The Macondo well leaked oil for 87 straight days, releasing more than 100 million gallons of oil into the Gulf of Mexico. The explosion was caused in part b...
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