THE CURRENT ADMINISTRATION OFF-SHORE OIL DRILLING MAY BE DELAYED AS ARESULT OF THE RECENT ACCIDENT IN THE GULF OF MEXICO.

The recent incident of oil spill and fire outbreak in the off shore oil drilling in the gulf of Mexico could delay the current Administration project for off shore oil drilling in the USA coast aimed to reduce the country's expense and dependency on imported foreign oil. Material and environmental damages estimated at over a hundred and thirty million us dollars with several damages on habitat and aquatic lives respectively seemed to have resulted in the speculation that raised the price of a barel of crude oil in the world markets, despite previous decline in the crude oil prices.
Despite the company's admittance of responsibility for the accident, strict regulations and legislative guidance may be required, besides thorough scrutiny of company's capability to contain such accidents for the companies that have been granted higher stakes in off shore oil drilling in the USA coast.

Written by Godfrey Ohia.