One Year Anniversary, BP Spill in the Gulf: Permitorium Continues

Link here.

XOM/CEO said he would be concerned if the public or regulators were to be told that “this industry was operating on the edge of its capabilities as we moved into ever-deeper water.”

He added: “[That] flies in the face of 14,000 wells that were drilled without this happening.” A year after the accident, only 10 fresh drilling permits have been issued in the gulf.

“We are not back to business as usual. I can’t really see the end,” XOM/CEO said.

Repeat: XOM/CEO sees no relief in sight with regard to the permitorium.

I see oil futures are over $1.22, solidly over $109 today.

CNBC reminds us of the million(s) of jobs lost in the Gulf region related to the spill and the permitorium.

CNBC reporting suggests Gulf fishing and Florida beaches are completely (as in 100%) back to normal.

Meanwhile President Obama praised Gulf clean-up workers.

Obama says that while workers have "made significant progress, the job isn't done."