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In a likely move, investors are demanding improved disclosure of oil disaster response plans. In fact, 58 investors representing $2.5 trillion in assets came together recently to demand just that. The group penned a letter to G. Steven Farris, chairman and CEO of Apache, a company that recently purchased $7 billion of oil and gas [...]
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The fact that BP faces a potentially existence-threatening reputation fallout following the Gulf oil spill is not news. We have seen plenty of evidence of the ways different people and outlets have gone after the energy behemoth, ranging from the acerbic to the satirical. The graph below is the latter. And it comes from the [...]
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Newsweek has created a great slideshow illuminating some staggering numbers about the Gulf of Mexico oil spill. I suggest you head over there and read it in full as they include insightful synopses/explanations of each, but these were the few figures I found the most interesting: Time it would take the United States to use [...]
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If forecasters were attempting to gauge the worst disasters that could happen, a major oil spill gushing for some 90-plus days into the Gulf of Mexico would probably have rated fairly high. By some estimates, this whole mess will cost BP around $60 billion. (Other, more conservative estimates have it costing closer to 1/10th that [...]
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