Disasters

"Lawmakers are taking direct aim at BP's decision-making process -- specifically, how the company weighed profits against safety concerns -- ahead of an upcoming congressional hearing on the Gulf oil disaster."

"Senate Democrats sent a letter to BP CEO Tony Hayward today calling on the company to set aside $20 billion in a special account to be used to pay for economic damages and cleanup costs of the ongoing oil spill in the Gulf of Mexico."

"President Obama promised residents of the Gulf Coast on Monday that 'things are going to return to normal' in the region, which has been devastated by the BP oil spill, and his administration said the British energy giant appears willing to meet a demand to establish a multibillion-dollar victims' compensation fund for those affected by the oil spill."

Some Americans are expressing their anger about the Gulf oil spill by protesting against local BP gas stations. But the pain of boycotts in many cases is felt by independent franchisees, not BP.

"President Obama will use his first Oval Office speech Tuesday night to outline a plan to legally compel BP to create an escrow account to compensate businesses and individuals for their losses from the oil spill in the Gulf of Mexico, administration officials said on Sunday."

"After focusing for weeks on the causes of the Gulf oil spill and its economic and environmental impact, Congress shifted its attention Thursday to the dangers it poses to human health. The Senate Health Committee tackled proposals to protect oil industry workers, while the House Energy and Commerce Committee’s Energy panel heard from experts on potential problems associated with exposure to oil, a carcinogen."

"Could another deep water -- or even shallow water -- oil drilling disaster be looming ahead? Experts warn it certainly could happen again."

BP has promised publicly to pay all "legitimate" claims by people and businesses damaged by the Gulf oil catastrophe. What exactly makes a claim "legitimate" is a matter for argument. It looks like BP will not be the only one who gets to decide.

"Lawyers for 10,000 workers claiming illnesses from rescue, recovery and debris removal after the Sept. 11 World Trade Center attack have agreed with New York City on a $712.5 million compensation fund to settle the cases."

"Three teams of scientists studying the flow of oil from the Deepwater Horizon blowout now say the oil released into the Gulf of Mexico ranged from 20,000 barrels a day to a little more than 40,000 barrels a day before the riser pipe was cut off on June 3, U.S. Geological Survey Director Marcia McNutt said Thursday."