Disasters

A billion-dollar BP oil rig named Thunder Horse almost sunk in the Gulf after a 2005 hurricane. "The problems at Thunder Horse were not an anomaly, but a warning that BP was taking too many risks and cutting corners in pursuit of growth and profits, according to analysts, competitors and former employees. Despite a catalog of crises and near misses in recent years, BP has been chronically unable or unwilling to learn from its mistakes, an examination of its record shows."

The co-chairmen of a presidential commission probing the BP oil spill did not ask any probing questions of the one BP exec to testify at the panel's first hearing Monday.

"The Coast Guard has modified a policy on safety zones around boom deployed on oiled coastlines, a policy news organizations had said unnecessarily restricted coverage of the impact of the Gulf of Mexico oil spill and efforts to clean it up."

"Interior Secretary Ken Salazar  issued revised rules on Monday for a six-month moratorium on deepwater oil  drilling in the Gulf of Mexico, replacing an earlier one that had been declared invalid by federal courts."

"In perhaps the most significant development since BP's runaway well began spewing oil in the Gulf of Mexico 85 days ago, crews placed a tight-fitting cap over the leak Monday evening designed to give the company its greatest chance so far at stopping the flow of oil into the sea."

"The presidential commission appointed to study the causes of the BP Deepwater Horizon oil spill and to recommend improvements for offshore drilling has navigated tight spots as it prepares to begin work this week."

"BP crews made progress Sunday in their attempt to place a new sealing device atop the blown-out well shooting oil into the Gulf of Mexico, company Vice President Kent Wells said."
 

"With a weeklong window of favorable weather opening in the Gulf of Mexico, the Obama administration is pressing BP to move quickly on two operations that could double the amount of oil  captured from the gushing well."

"A federal appeals court on Thursday turned down the Obama administration’s effort to enforce a six-month moratorium on deepwater drilling in the Gulf of Mexico."

"Transocean  is the world’s largest offshore drilling company, but until its Deepwater Horizon rig exploded in the Gulf of Mexico in April, few Americans outside the energy business had heard of it. It is well known, however, in a number of other countries — for testing local laws and regulations."