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Deepwater Oil Spill
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Northwest Oyster Farms Unable to Fill Demand 2:30
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Raw Video: BP Recovers Failed Blowout Preventer 1:43
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News Hub: A Big Week for Obama 2:45
6:45 p.m. July 30, 2010
- By Robert Schroeder
Measure would end $75 million liability cap; long road seen for legislation By Robert Schroeder , MarketWatch Last Update: 6:45 PM ET Jul 30, 2010 WASHINGTON (MarketWatch) -- Oil companies that drill off U.S. shores would be subject to new standards and unlimited liability for accidents under a bill passed by the House of Representatives on Friday, a measure written by lawmakers in respons... Before Friday's vote, lawmakers in both chambers conducted a slew of hearings into the oil spill, thrusting BP into the spotlight over its drilling practices and putting huge pressure on the oil major to pay damages following the explosion and sinking of the Deepwater Horizon rig three months ago.
4:31 p.m. July 27, 2010
- By Russ Britt
The oil giant said Tuesday that it is incurring a charge of $32.2 billion from the Deepwater Horizon disaster response, and as such, it is claiming a $9.9 billion taxation credit. BP's decision to claim a nearly $10 billion tax credit stemming from costs it incurred during the oil spill cleanup is nothing short of reprehensible," he said in a statement.
4:33 p.m. July 16, 2010
- By MarketWatch
Washington events from July 19 - 23. A guide to the key economic reports and news events in Washington during the week.. A guide to the key economic reports and news events in Washington during the week. A guide to the key economic reports and news
7:05 p.m. July 14, 2010
- By Steve Gelsi
BP's plans to pressure-test the latest containment system on its runaway Gulf oil well have been approved by the government, clearing the way for the next critical step in taming the spill. BP's plans to pressure-test the latest containment system on its runaway Gulf oil well have been approved by the government, clearing the way for the next critical step in taming the spill.
7:01 a.m. July 9, 2010
- By Chuck Jaffe
Question: How can you write about small, insignificant oil stocks and the companies where people think they might make some money because of the BP oil spill, and not say that BP itself is a stupid investment? Answer: There's no denying that BP PLC has been in a world of trouble since the start of the Gulf Oil spill caused by an explosion on its Deepwater Horizon drilling rig in late April.
3:40 p.m. July 6, 2010
- By MarketWatch
Over the past few days, there's been a flood of speculation over whether the once-mighty energy company can survive its Gulf of Mexico oil-spill calamity. Is that because BP's a steal at this price or because Libya feels a debt of gratitude for all the company has done for the oil industry?
1:33 p.m. June 27, 2010
- By MarketWatch
A tropical storm will likely avoid the BP oil spill in the Gulf of Mexico this week as the system heads instead toward Mexico City. A tropical storm will likely avoid the BP oil spill in the Gulf of Mexico this week as the system heads instead toward Mexico City.
7:35 p.m. June 21, 2010
- By Chen Zhu
Opportunistic oil companies are circling over BP assets as oil-spill costs mount By Chen Zhu , Caixin Online Last Update: 7:35 PM ET Jun 21, 2010 BEIJING ( Caixin Online ) -- While a blowout well continues spewing crude oil into the Gulf of Mexico, BP's global rivals are circling like vultures, ready to devour any assets that the disaster-strained company might reluctantly shake off. BP's costs connected to the runaway oil spill -- America's worst environmental disaster -- could include compensation for at least the estimated 30,000 plaintiffs currently suing the company for damage inflicted on fisheries, tourism and marine transport along the Gulf Coast.
8:44 a.m. June 15, 2010
- By MarketWatch
The Obama Administration’s demand that BP create a $20 billion escrow fund to pay Gulf of Mexico oil-spill claims is already paying off, but perhaps not in the way intended. Fortunately, cash leaks out of BP as fast as oil does out of the Deepwater Horizon well.
4:27 p.m. June 3, 2010
- By Steve Gelsi
The Oil Spill Liability Trust Fund is also the subject of spill-inspired legislation in the U.S. House of Representatives, where Democrats plan to eliminate the $75 million cap on damages assigned to companies for oil spills. The administration expects prompt payment and will take additional steps as necessary to ensure that BP and other responsible parties, not American taxpayers, pay all of the costs associated with the BP/Deepwater Horizon Oil Spill," the statement said.
3:22 p.m. June 3, 2010
- By Steve Gelsi
The administration will continue to bill BP regularly for all associated costs to ensure the Oil Spill Liability Trust Fund is reimbursed on an ongoing basis," the White House said in a statement. The administration expects prompt payment and will take additional steps as necessary to ensure that BP and other responsible parties, not American taxpayers, pay all of the costs associated with the BP/Deepwater Horizon Oil Spill."
3:42 p.m. June 1, 2010
- MarketWatch
US Stocks Slip; Energy Shares Down As BP Oil Spill Continues. President Barack Obama spoke about the oil spill following a meeting with a committee examining the disaster.
12:10 p.m. May 28, 2010
- By Chuck Jaffe
A report on the stock at the Microstockprofit.com site notes that "MOP is promoting itself diligently by saying that its patented product is the ultimate solution for protecting ecosystems along the coastline from hazardous oil spills." Stocks like Alternate Energy Holdings or Renewal Fuels -- where there's no real direct connection or promise to be made -- have gotten some play from promoters, under the basic idea that the oil spill will generate a surge of interest in every type of alternative.
4:49 p.m. May 25, 2010
- By Steve Gelsi
Law makers are considering proposals to raise the potential cap on damages for responsible parties beyond the current limits and increase the amount in the Oil Spill Liability Trust Fund by upping the tax on industry through which the fund is financed and would increase the amount the fund could pay for cleanup and damages related to any given incident. Meanwhile, oil from the spill continues to move into wetlands and wildlife areas in Louisiana.
12:34 p.m. May 22, 2010
- By Christopher Hinton
On Friday, Obama signed an executive order establishing the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling, which will investigate the events leading up the oil-rig explosion on April 20 that killed 11 people, sank the rig and led to tens of thousands of barrels of oil being lost into the Gulf. It would also require a greater reserve of boom -- used to block the flow of oil spills -- and would direct work on technology that would effectively cap deepwater leaks.
