Gulf Drilling Could Create 230,000 Jobs

An energy research group says an increase in drilling activity in the Gulf could create 230,000 jobs and add 44-billion dollars to the economy next year.

IHS says regulations enacted after last year's Gulf oil spill have slowed down the time it takes companies to receive drilling permits. It says if the process was streamlined to allow the industry to operate at peak levels, the U.S. would produce more jobs, more tax revenue, and another 411,000 barrels of oil per day.