BP, PLC has announced plans to go forward with a major project in the gulf. AP reports, they've reworked a 2013 proposal, trimming the cost of Mad Dog Phase 2 from $20 billion to $9 billion. Analysts see the decision to go forward as an indication of optimism in the future of oil prices. The announcement comes on the heels of OPEC announcing a cut in production. BP officials say the timing is coincidental, claiming the project would still be profitable at prices below the current $51.00 a barrel for US benchmark crude. That sounds like good news to me. Let's hope they've gotten more conscientious about safety.