Oil Industry Urges Boost in U.S. Spending to Speed Drill Permits

Bloomberg reports that lobbyists for Exon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) are lobbying to increase funding for the U.S. agency that analyses and issues new drilling permits.

The market news is quoted as saying:

The permit process tightened after a BP Plc well ruptured last year, spilling more than 4 million barrels of oil into the Gulf of Mexico.

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