So a “best year” means having an oil rig explode, which cost 11 people their lives and lead to the biggest oil spill in American history? Transocean Ltd. gave its top executives bonuses for achieving the “best year in safety performance in our company’s history” — despite the explosion of its oil rig that […]
Wells Fargo received $25 billion from the George Bush TARP program. One of Wells Fargo’s biggest problems was the acquisition of Wachovia in December of 2008. Wachovia came with a whole slew of problems, but probably none bigger than this: On 10 April 2006, a DC-9 jet landed in the port city of Ciudad del […]
Houston – we have a serious problem: More than 27,000 abandoned oil and gas wells remain in the Gulf of Mexico and no one’s checking to see if they are leaking, reports an investigation by the Associated Press. The AP, calling the Gulf an “environmental minefield,” says the oldest of these wells were abandoned in […]
The Brits still think we are being too tough on BP: The crisis engulfing BP has plumbed new depths as President Obama bullied the company into depositing £13.5billion into a fund to settle compensation claims for the calamitous Gulf of Mexico oil spill. Bullied? Sorry, but BP has been doing the bullying by giving victims […]
A new ABC/Washington Post poll echoes the results of the CBS poll earlier this week – Americans are waking up on offshore drilling: Just a quarter of Americans back expanding offshore drilling in the wake of the BP oil spill, and most fault federal regulators for the environmental disaster in the Gulf of Mexico, according […]
In about 10 minutes the White House will hold a joint press briefing with Robert Gibbs and Thad Allen, in what is probably the start of a much more out front White House when it comes to the spill: White House Press Secretary Robert Gibbs’s briefing, which normally comes in the afternoon, takes place at […]
Yesterday BP saw a huge decline in it’s value as their stocks lost 15% of their value: As BP hacked away at a pipe gushing oil at the bottom of the Gulf of Mexico, investors sawed off 15 percent, or $21.1 billion, of the company’s market value Tuesday. Some are pointing to the announcement by […]
And guess who is a part owner of it? The Trans-Alaska Pipeline, partly owned by BP (BP.L), shut down on Tuesday after spilling several thousand barrels of crude oil into backup containers, drastically cutting supply down the main artery between refineries and Alaska’s oilfields. The accident comes at a difficult time for BP — the […]
A couple of stories have my blood really boiling this morning over the whole oil spill mess. First we have BP ignoring EPA orders to not use the toxic dispersant. BP just ignored them time and time again and the EPA finally threw their arms up and caved: Environmental Protection Agency Administrator Lisa Jackson said […]
This one from Reuters really got my blood pressure boiling: US will “push” out BP if spill response falls short The U.S. government will move aside BP (BP.L) from the operation to try to halt the Gulf of Mexico oil spill if it decides the company is not performing as required in its response to […]