VideoPresident Obama is announcing new drilling regulations hours after Elizabeth Birnbaum resigned under pressure as head of the Minerals Management Service (MMS), the lead agency overseeing U.S. oil and gas drilling. The MMS has come under fire for lax inspections of the Deepwater Horizon rig prior to its April 20 explosion and an Inspector General's report that identified inappropriate behavior and industry relationships by agency officials.
Early reports indicate moderate success in the "top kill" effort to stem the Gulf oil leak, now classified by government estimates as the wort spill in U.S. history. Federal officials, BP and Transocean executives are testifying at a House Natural Resources Committee hearing examining how the spill will affect America's offshore oil and gas policy.
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