NEW YORK (CNNMoney.com) -- President Obama lifted his moratorium on deepwater oil drilling nearly a month ago, but the government still hasn't issued any new permits in the Gulf of Mexico.
And most analysts say permits will be slow in coming through 2011.
The Interior Department halted deep water permits shortly after BP's Macondo well blew out last April. The accident resulted in the worst oil spill in U.S. history.
The moratorium was lifted in mid-October after government officials were confident new, stricter rules and regulations were in place.
But no new permits for wells covered under the ban have been issued, according to a spokeswoman for the Interior Department's Bureau of Ocean Energy Management Regulation and Enforcement.
"[BOEMRE director Michael] Bromwich has indicated that he hopes to see some approved by the end of the year but cannot speculate," the spokeswoman said in a statement.
Even if a few permits come through, analysts say it will be a far cry from the amount issued pre-spill.
"We're not holding our breath for a return to business as usual," Whitney Stanco, and energy analyst at the Washington Research Group, wrote in a recent research note. "Despite pressure from Gulf state lawmakers and the oil and gas industry, we believe permitting in 2011 will likely be slower than it has been in recent years."
Offshore drilling still on hold - Nov. 12, 2010