The storm that hit the East Coast last week underwent "bombogenesis," and forecasters say it could happen again to Winter Storm Juno.» Read More
As I continue my week here on the Gulf Coast of Florida, I hear more and more real and anecdotal stories of contract cancellations for new home purchases and second homeowners walking away. There is no question that while oil has barely brushed the beaches here in Pensacola, the place is awash in fear. Fear and real estate are like, well, oil and water; they don't mix well.
Estimates show that the civil fine for the escaping oil alone could be $280 million a day, but criminal penalties, if imposed, could cause the costs to balloon still further. The NYT reports.
Forgive my silence on the blog for the past two days, but I've been in beastly hot Pensacola, Florida, preparing stories on mortgage mediation, and, of course, oil. President Obama dropped by the beach yesterday to talk to some local folks, while I spent the day in empty beach front mansions and empty ocean-view condos.
Sadly, President Obama, by persistently scolding BP and using inflammatory rhetoric, has done little to improve BP’s efforts to cap the well and mitigate the damage, or to foster effective cooperation between federal and state agencies that could improve those efforts.
Tests confirmed that some toxic compounds that would evaporate in a shallow-water spill are instead spreading, just as President Obama plans his fourth trip to the region. The NYT reports.
With no consensus among experts on how much oil is pouring from the wellhead, it is hard, if not impossible, to assess the containment cap’s effectiveness. The NYT reports.
BP is trying to defend its corporate image with a major ad campaign after causing the largest oil spill in US history. The campaign includes a TV commercial featuring BP CEO Tony Hayward apologizing for the environmental disaster and explaining to viewers what the company is doing to repair the damage. The campaign has been met with mostly criticism.
Billion-dollar oil rigs are starting to see a tremendous amount of financial strain due to the enormous amount of oil spewing into the Gulf of Mexico.
Anger over the oil leak in the Gulf of Mexico is spilling into streets as protests are organized at BP’s offices and gas stations around the country.
BP did not have all the equipment needed to stop the leak from its Macondo well in the Gulf of Mexico in the aftermath of the explosion, the company’s CEO told the Financial Times.
Since the Deepwater Horizon rig leased by BP caught fire and sank on April 20, natural gas prices have gone up, and gone down and now seem headed north again.
BP Global PR is now giving lessons in public relations. Not really. Last week I blogged about someone who is spoofing BP's crisis management efforts under the Twitter name @BPGlobalPR. The spoofer was barreling toward 100,000 followers as of Tuesday night.
As effort after effort to stop the giant leak in the Gulf of Mexico fail, we want to know where you think BP will stand one year from now. Share your opinion in our poll.
Officials at the Environmental Protection Agency are considering whether to bar BP from receiving government contracts, a move that would ultimately cost the company billions in revenue and could end its drilling in federally controlled oil fields.
BP says the amount of crude it's siphoning from the Gulf of Mexico leak fell to 2,200 barrels a day, down sharply from a capture of 5,000 barrels reported yesterday, due to a change in the flow of oil from the ruptured undersea well.
The Environmental Protection Agency has ordered BP to use a less toxic chemical dispersants to break up the oil spill from its broken undersea well in the Gulf of Mexico.
The federal Minerals Management Service gave permission to dozens of oil companies to drill in the Gulf of Mexico without first getting required permits from another agency, the NYT reports.
Scientists and environmental groups are raising sharp questions about the size of the oil leak in the gulf, estimated at 5,000 barrels a day, declaring that the leak must be far larger. The NYT reports.
Boeing stock is down 25 percent from its high, but the company is optimistic about the flight plan, including the Dreamliner and Boeing's biggest airplane, the 747-8, due to start flying next year. It will seat almost 600 people and will be 90 yards long. Would you worry about flying in something that big? Share your opinion in our poll.
Innovative products. Bold leadership. Loyal customers. And a secretive culture. What trend will this company set next? Its competitors are as curious as anyone. But has Apple already reached it's pinnacle? Are it's best days behind it? Share your opinion.