ali velshi takes a look at the four states trying to make it a little more mainstream. that starts at 1:00 p.m. eastern on cnn. want to get john king, host of john king usa. you have a breaking development on the obama administration s plans of moving forward with the moratorium on deep drilling for oil. you remember that was put in place almost immediately after the big oil spill due to expire at the end of november but we are told now by two government sources the administration will announce in the next hour or so a lifting of the deepwater moratorium and say it can resume although new oversights and enhanced safety regulations. as you know, the governor of louisiana, all politicians, democrat and republican and along the gulf coast have been complaining about it for some time saying it s costing them millions in revenue. costing them thousands of jobs but the administration will announce it s being lifted although it will be interesting to talk to the industry. the industry s
moratorium on deepwater drilling. right, that deepwater drilling moratorium that was put in place right after the bp oil spill will be lifted within the hour. we are told that by several government sources. the administration say deepwater drilling can resume so long as the operators meet a new and tougher set of safety regulations so that s been a policy fight and as you know a big political battle for the add manager because the industry didn t like it and a lot of politicians along the gulf coast, democrat and republican didn t like it either, tony. the timing of this, can we read anything into the timing of this? you re a smart, savvy analyst of political events. my understanding from you is that this is happening a month earlier than expected, right? the moratorium was due to expire at the end of november. the administration is announcing this now. one of the reasons it says it would move as quickly as possible to get the review done but there are people who say, wait a minu
because we re imprudent. how important is it that bp is right in its projections as to when they can plug this hole? first of all, going on the hole plugging calendar at this point, three or four weeks ago they said this operation was going to take place. we were told about it. it was suppose to do happen a week earlier and the delay had to do with the hurricane that came through the gulf and set everything back a week. that said, as of a month ago when you look at how they plotted this forward, they are approximately stick to go that time line. as for the deepwater moratorium, at this point, look. they have lost two court fights on this. and it does seem as if we re now we re more than three months removed from the actual spill itself. i think more than two months from the initial moratorium. you woned at this point how much good does it do? that said, i talked to some folks that are in this industry and one thing that they pointed out to me is that they wish this
the current pay czar for the big bank bail-out, kenne kennethfeinberg will oversee the claim. a three-member panel will review the awards. b.p. agreed under the white house pressure to set aside $100 million for unemployed rig workers idled by the six-month deepwater moratorium and the white house released this photo of obama with the b.p. chairman of board who announced the oil giant would cancel stockholder dividends for 2010 and address the perception of greed and indifference. i hear the [ inaudible ] that large oil companies are greedy companies or don t care. that is not the case of b.p. we care. reporter: after congressional revelation of internal concern about the deepwater rig dangerous conditions b.p. executives did not deny they cut corners on safety. we in the board, we will do our own independent
the current pay czar for the big bank bail-out, kenne kennethfeinberg will oversee the claim. a three-member panel will review the awards. b.p. agreed under the white house pressure to set aside $100 million for unemployed rig workers idled by the six-month deepwater moratorium and the white house released this photo of obama with the b.p. chairman of board who announced the oil giant would cancel stockholder dividends for 2010 and address the perception of greed and indifference. i hear the [ inaudible ] that large oil companies are greedy companies or don t care. that is not the case of b.p. we care. reporter: after congressional revelation of internal concern about the deepwater rig dangerous conditions b.p. executives did not deny they cut corners on safety. we in the board, we will do our own independent