SPRINGFIELD, Ill.— Officials with the U.S. Department of Agriculture in Illinois plan to seek a federal disaster declaration to make farmers with flood-damaged crops eligible for assistance, as flood warnings persist along several state waterways, including the Illinois River. The declaration would make farmers who faced extensive spring and summer...» Read More
BP executives met in London Friday with investment bankers to discuss a likely bond offering as early as Tuesday, according to a source familiar with the matter.
The Obama administration's six-month moratorium on oil drilling could benefit BP, John Kingston, director of oil at Platts, a provider of energy information, told CNBC.
Some on Wall Street are saying that BP may have to pay lenders as much as 2.5 percent more than it typically does on similar bond issues. What does this mean for BP stock and investors?
Gulf oil spill victims should file a claim as soon as possible, Ken Feinberg, head of the $20 Billion Fund to help victims said Thursday.
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.
As officials reported a gradual increase in the amount of oil being captured from a spewing wellhead at the bottom of the Gulf of Mexico on Monday, BP said it plans to replace the cap collecting the crude with a slightly bigger device next month.
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.
BP cap collects at least 6,000 barrels of oil in its first 24 hours of use, but crude from that busted underwater oil well is showing up in greater quantities and farther east along the Gulf's once pristine white beaches.
President Barack Obama said Saturday that he will stand with Gulf Coast residents "until they are made whole" from the oil spill catastrophe.
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.