The increasing frequency and severity of extreme weather events could cost the world $421 billion yearly by 2030, the Red Cross warned.» Read More
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.
ExxonMobil Chairman and CEO Rex Tillerson says President Obama made the right call in putting a moratorium on new Gulf of Mexico oil leasing in the wake of the BP disaster.
Talk about timing. As a massive oil spill spreads in the Gulf of Mexico, 70,000 oil industry professionals are gathering in Houston for the Offshore Technology Conference.
The massive oil spill in the Guld of Mexicso is having ripple effects on U.S. oil and natural gas production. Two offshore natural gas platforms have already been shut down.
The owner of Lousiana's largest oyster producer, Motivatit Seafood, says he will have to raise prices if the water where he harvests oysters gets over-run by the coming tide of oil.
BP should be allowed to contain the massive oil spill and head the cleanup operation in the Gulf of Mexico, a leading energy expert told CNBC Monday.