"U.S. environmental regulators said on Tuesday the climate and energy bill in the Senate would only add slightly to average household costs, but the finding was not expected to boost chances for the legislation that would cap greenhouse gas emissions."
Rep. Joe Barton (R-TX) turned a hearing with BP CEO Tony Hayward on its head Thursday by apologizing to BP for what he called a "$20 billion shakedown." Democrats made political hay. Republicans scrambled to distance themselves. Under threat from GOP leaders of losing his job as top House Energy Republican, Barton returned to the hearing to apologize for apologizing. It later emerged that Barton's "shakedown" talking point had been crafted by the Republican Study Committee, a conservative faction that includes 115 of the 178 GOP House members. Barton got more than $100,000 in campaign contributions from the oil industry during this election cycle -- and his top single corporate contributor is Anadarko, which is a 25% stakeholder in the gushing Macondo well. Hayward, while apologetic himself, dodged the panel's questions.
Despite a huge and detailed hearing and investigative record of BP corner-cutting on well-control and safety operations leading up to the Gulf blowout, explosion, and spill, BP's Tony Hayward is poised to tell a Congressional committee today that he has no idea why it happened. The interrogation may be harsh.
"Under intense pressure from President Barack Obama, BP Plc agreed on Wednesday to set up a $20 billion fund for damage claims from its huge Gulf of Mexico oil spill and suspended dividend payments to its shareholders."
"The man appointed Tuesday by President Obama to oversee offshore oil drilling has no experience with oil and gas issues, but he has a reputation for cleaning up embattled organizations."
"President Obama urged the nation Tuesday to rally behind legislation that would begin changing the way the country consumes and generates energy, saying the expanding oil spill in the Gulf of Mexico is 'the most painful and powerful reminder yet that the time to embrace a clean energy future is now.'"
"Lawmakers are taking direct aim at BP's decision-making process -- specifically, how the company weighed profits against safety concerns -- ahead of an upcoming congressional hearing on the Gulf oil disaster."
"President Obama promised residents of the Gulf Coast on Monday that 'things are going to return to normal' in the region, which has been devastated by the BP oil spill, and his administration said the British energy giant appears willing to meet a demand to establish a multibillion-dollar victims' compensation fund for those affected by the oil spill."
Some Americans are expressing their anger about the Gulf oil spill by protesting against local BP gas stations. But the pain of boycotts in many cases is felt by independent franchisees, not BP.
"Iraqis are calling on their incoming government to devote more energy to resolving the country's chronic water problems, with some experts stating that water will be more important than oil in the long-term development of the country."
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