Barton Biggs, the hedge fund manager who became more optimistic about stocks this month, said that BP is still “too speculative” to buy, Bloomberg News reported. After losing about 40 percent of its share price since the start of the worst oil spill in U.S. history in the Gulf of Mexico, BP has rebounded 37 [...]
False alarm. BP called off the evacuation from the site of its blown-out well in the Gulf of Mexico Saturday, as Tropical Storm Bonnie weakened, making it safe to resume work on containing the oil spill. The oil company began pulling out ships and workers earlier in the week out of concern that the storm [...]
British Prime Minister David Cameron was the talk of the town Wednesday as he held his first face to face meeting with President Obama at the White House. But while foreign policy and the oil spill dominated the discussion between the two leaders in Washington, back in the U.K., Cameron was in the news for [...]
NEW ORLEANS — When BP’s platform exploded in the Gulf, killing 11 men, New Orleans had slowly, achingly, begun to get past Hurricane Katrina. Nearly five years on, many neighborhoods in the vast urban expanse that went underwater — an area eight times larger than Manhattan — had rejoined the B-flat hum of the city. [...]
Back in May, President Barack Obama signed an executive order creating a seven-member commission to recommend how we might prevent future oil spills. He then ordered a six-month moratorium on deepwater drilling (which has now been overturned twice by the courts). In June, he asked Congress for $15 million to finance the commission. The National [...]
It would take a “perfect world,” but a BP executive says the long-awaited relief well — the “bottom kill” to block the gushing deep sea oil spill — could be completed before the end of July. The well, being drilled parallel to the blown-out Macondo well, is only 200 feet from an interception point, nearly [...]
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