The Obama administration has issued the first deepwater drilling permit since the BP oil spill. Nobel Energy will officially resume deepwater drilling in the Gulf of Mexico later this month, as Nancy Marshall Genzer reports.
Steve Chiotakis speaks with Jill Schlesinger, editor-at-large for CBS/MoneyWatch, about the Commerce Department's downward revision of the nation's Gross Domestic Product number, and the rising cost of oil.
Deep water drilling has been on hold in the Gulf of Mexico since the disastrous BP oil spill. But industry executives say they're ready to resume drilling. Jeremy Hobson speaks with Barbara Shook, Houston bureau chief for the Energy Intelligence Group.