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Gulf oil spill 203 articles

BP's 'willfull misconduct' key to full compensation for oil spill damages

BP CEO Tony Hayward has said that his company will pay for all “legitimate” damages caused by the Deepwater Horizon oil spill, but those expenses are impossible to calculate as the site continues to spew more than 200,000 gallons of crude into the Gulf of Mexico every day. As the costs escalate, both the White House and Congress are taking measures to ensure that BP adequately compensates for the economic damage that is bound to occur in the volatile communities along the Gulf Coast and possibly beyond. In BP’s favor is a mere $75-million cap on liability for oil-spill damages ... Read More

BP's liability for Gulf oil spill could be minimal

The impact of BP’s oil spill in the Gulf of Mexico is impossible to determine because it ultimately depends on how long it will take to contain the leaks. But one thing is certain: the costs will reach into the tens of billions of dollars at the very least. Can Americans expect the oil giant, which posted profits of $6.08 billion in the first quarter of 2010 alone, to pay for all the damage that the company’s disregard for safety and lack of disaster failsafes created? According to BP CEO Tony Hayward, probably not. BP and the other oil corporations have a ... Read More

21 years later Exxon still fights liability for the Valdez oil spill

On March 24, 1989, the Exxon Valdez oil tanker spilled 11 million gallons of North Slope crude oil into the Alaska’s Prince William Sound, one of the cleanest, most unspoiled coastal ecosystems in America. More than two decades later, animals and residents continue to suffer from the spill’s devastating effects, and scientists say that it could be another 2 decades before the area fully recovers. However, even though millions of fish, sea birds, bald eagles, seals, otters, whales and other creatures suffered agonizing deaths as a result of Exxon’s spill, and even though many of the local communities so dependent ... Read More