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Obama administration lifts deep-water drilling moratorium

• CNN (video)
The Obama administration is lifting the moratorium on deep-water oil drilling -- put in place after the Gulf oil spill disaster -- for operators who comply with tough new rules and regulations, Interior Secretary Ken Salazar announced Tuesday.

"There will always be risks associated with deep-water drilling," Salazar said. "We have reached a point where we have significantly reduced those risks."


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