In its report on the gulf oil spill, BP spreads the blame

BP rolled out the results Wednesday of a four-month internal investigation into the causes of the April 20 blowout of its Macondo oil well in the Gulf of Mexico, spreading blame among its contractors and giving a glimpse of the defenses it might deploy in public and in court. The much-anticipated report asserted that a "complex and interlinked series" of failures - of equipment, engineering and judgment - led to the surge of oil and gas that exploded...

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Reminder from Egypt: The age of oil isn't going away

The Age of Oil continues; we need to deal with it. The upheaval in Egypt reminds us of lessons that, despite decades of warnings, Americans have consistently sidestepped: The United States and the rest of the world will depend on oil for the indefinite future; global oil markets remain hostage to political crises that cannot be predicted or controlled; and we have not taken the prudent steps that would reduce - though not eliminate - our vulnerability...

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BP announces changes aimed at helping cover costs from gulf oil spill

BP said Tuesday that it will restart its suspended dividend payments, put its troubled Texas City refinery up for sale and sell another $13 billion in assets, a move aimed at covering costs flowing from last year's the massive oil spill in the Gulf of Mexico. The British oil giant also said that it has sent a bill for $6 billion to its partners in the ill-fated Macondo oil well, Anadarko Petroleum and Mitsui, who it believes share liability for...

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