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GOP Leaders Ordered Barton to Apologize, 'Immediately'

Boehner, Cantor laid down the law

(Newser) - So what prompted Joe Barton's quick retraction of his apology to BP ? A sincere change of heart, maybe. Or it could have been the meeting with House GOP leaders John Boehner and Eric Cantor, who told him, "Apologize, immediately. Or you will lose your (committee) position, immediately,"...

Barton Retracts Apology to BP

Texas Republican regrets use of word 'shakedown'

(Newser) - Well that was fast. The Tony Hayward grilling hasn't even finished in Congress, and Joe Barton already is walking back his earlier apology to BP . "I apologize for using the term 'shakedown' with regard to yesterday's actions at the White House in my opening statement this morning, and I...

Joe Barton's BP Apology Could Be 'Game-Changing'

Pundits Think Democrats Have a Line of Attack

(Newser) - GOP congressman Joe Barton's apology to BP remains the buzz of the day. See earlier summary here and a video of his statement in the gallery:
  • Greg Sargent, Plum Line : "The challenge for Dems, though, is to elevate the story beyond Barton's ridiculous comments and build a larger narrative
...

Hayward: 'I Was Not Involved'
 Hayward: 'I Was Not Involved' 
Jun 17, 2010 12:49 PM CDT

Hayward: 'I Was Not Involved'

BP CEO stonewalls Congress

(Newser) - Tony Hayward disavowed pretty much all knowledge of or responsibility for the decisions that lead to the Deepwater Horizon explosion today, in the face of a grilling from lawmakers. “I was simply not involved in the decision-making process,” he told Henry Waxman at one point, and he refused...

BP Well Almost Blew Up Months Earlier

Good thing they learned from their mistakes

(Newser) - BP knew its Macondo well was in trouble long before it exploded—because it was dealing with cracks in its seal way back in February. The company spent 10 days trying to seal up the holes, experiencing repeated difficulties that suggest it was using the wrong kind of cement. Cracks...

Hayward Faces Down Lawmakers, Protesters
 Hayward Faces Down 
 Lawmakers, Protesters 
UPDATED
Jun 17, 2010 10:46 AM CDT

Hayward Faces Down Lawmakers, Protesters

Will say he grasps 'the terrible reality'

(Newser) - Tony Hayward went to Capitol Hill to take his lumps today, and Democrats, at least, delivered them. Henry Waxman praised the BP boss for setting up a $20 billion clean-up fund, but then slammed him for his safety record. When Hayward took his job he said he’d focus “...

GOP Rep. Apologizes to Hayward, BP for $20B Fund

Calls White House pressure a '20B Shakedown'

(Newser) - While other congressmen were heaping abuse on BP CEO Tony Hayward in this morning's hearings, one Republican abruptly shifted gears in his opening remarks and apologized to the man in the hot seat. Rep. Joe Barton told Hayward he was "ashamed" of the pressure the White House put on...

On Spill, We Need 'Barack and Tony Show'

The president and BP's CEO should be allies, at least for now

(Newser) - Great, President Obama finally met face to face today with BP's Tony Hayward. Only about 6 weeks too late, complains Steven Pearlstein. These guys should have realized from day one that "they were in this mess together," he writes in the Washington Post . Obama has been publicly hostile...

BP Won't Pay Dividend, Apologizes for Spill

Obama confirms $20B fund for victims of the spill

(Newser) - BP is suspending its dividend through the rest of the year in the wake of the Gulf oil spill. "This tragic accident ... should have never happened," said board chair Carl-Henric Svanberg, who used a news conference to "apologize to the American people." He also noted that...

Obama Acting Like a 'Dictator' on BP
 Obama Acting Like 
 a 'Dictator' on BP 
Ben Stein
Jun 16, 2010 12:56 PM CDT

Obama Acting Like a 'Dictator' on BP

Victims' fund may be popular, but it violates the Constitution

(Newser) - Everyone is egging on the president to get tough on BP, but Obama simply has no legal or legislative authority to force the company to set up a multi-billion dollar fund for victims, writes Ben Stein. BP no doubt "acted irresponsibly," but Obama is going well beyond the...

BP Agrees to Create $20B Fund for Spill Victims

Top company execs meet at White House with Obama

(Newser) - BP has agreed to finance a $20 billion fund to pay the claims of people whose jobs and way of life have been damaged by the Gulf oil spill, senior administration officials say. The independent fund will be led by lawyer Kenneth Feinberg, who oversaw payments to families of victims...

Investors Bet Big On BP Default
 Wall St. Bets Big on BP Default 
odds shoot up to 39%
Jun 16, 2010 7:28 AM CDT

Wall St. Bets Big on BP Default

Credit-default swaps predict 39% chance of failure

(Newser) - Wall Street oddsmakers think BP has a 39% chance of defaulting on its credit in the next five years, based on the skyrocketing price of the company’s credit default swaps. A month ago, investors had priced in just a 7% risk of default. “There’s still so much...

Lawmaker to BP Exec: As a Samurai, You'd Kill Yourself

Cao gives lesson in 'Asian culture'

(Newser) - Florida congressman Cliff Stearns asked BP chairman Lamar McKay to resign during McKay's congressional testimony today. And he was the nice one. Rep. Anh "Joseph" Cao, a Vietnamese-American who represents New Orleans, delivered a pointed history lesson, notes CBS . "Mr. Stearns asked Mr. McKay to resign," he...

Obama: 'We Will Make BP Pay'
 Obama: 'We Will Make BP Pay' 
Jun 15, 2010 7:35 PM CDT

Obama: 'We Will Make BP Pay'

He accuses company of 'recklessness'

(Newser) - President Obama accused BP of "recklessness" in the first Oval Office address of his presidency tonight and swore not to rest until the company has paid for the damage it has caused to lives, businesses, and shorelines. He announced that he had asked former Mississippi Gov. Ray Mabus to...

Oil Spill Estimate Surges (Again)

Ceiling is now 60K barrels a day, up from 40K

(Newser) - Another talking point for the president tonight: Government scientists have once again raised the estimate of how much oil is gushing into the Gulf of Mexico. The well is spewing between 1.47 million and 2.52 million gallons a day, or somewhere between 35,000 and 60,000 barrels....

BP Emails: 'Who Cares? It's Done'

Engineers discussed, dismissed safety risks

(Newser) - BP engineers were well aware of all the risks they were taking with the Deepwater Horizon well, but essentially chose to ignore them because they were under pressure to finish the job quickly, emails obtained by Congress reveal. “We have flipped design parameters around to the point I got...

Lightning Strike Halts BP's Oil Capture

Company hopes to resume today after ship fire

(Newser) - A bolt of lightning struck the ship capturing oil from the BP well in the Gulf of Mexico today, igniting a fire that has halted containment efforts. The fire was quickly extinguished, and BP said it hopes to resume containing oil from the well sometime this afternoon. No one was...

Oil Giants All Have Same Lame Spill Plan: Dems
 Oil Giants All 
 Have Same Lame 
 Spill Plan: Dems 
Grilling Big Oil
Jun 15, 2010 1:20 PM CDT

Oil Giants All Have Same Lame Spill Plan: Dems

Companies argue spill was a fluke

(Newser) - Lord help us if there’s another deepwater spill, because the big oil companies all have a pretty much identical response plan to BP, congressional Democrats complained today, grilling executives from Chevron, Exxon, Shell, BP, and Conoco Phillips. All the companies hired the same third party to draft their plans,...

Colbert Sticks It to the English, and Their Muffins

Freedom Muffins contain 20% less oil!

(Newser) - So the British are getting all hot and bothered because we're being too hard on poor little BP? Too bad. Stephen Colbert doesn't "give a flying shepherd's pie," he said last night , declaring the oil spill, "the biggest British mess to hit our shores since Amy Winehouse....

Big Oil to House: It Won't Happen to Us

Execs to tell hearing that America needs continued drilling

(Newser) - The biggest cheeses from the world’s biggest oil companies are on Capitol Hill today to try to convince Congress that the Deepwater Horizon spill was a freak occurrence, and that they can surely be trusted to drill safely. According to prepared testimony, Exxon Mobil’s chairman will also issue...

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