Workers remove oil washed ashore from the Deepwater Horizon oil spill in the Gulf of Mexico on June 26, 2010 in Orange Beach, Alabama. (credit: Joe Raedle/Getty Images)

Gulf Oil Spill Cost Hits $40 Billion

BP says the cost of the devastating Gulf of Mexico oil spill has grown to $40 billion, dragging down its third quarter net profit.


Obama Administration lifts Gulf Coast oil drilling moratorium

The moratorium on deep water drilling in the Gulf of Mexico has been lifted because new safety standards will make a disastrous oil spill much less likely, Interior Secretary Ken Salazar announced today.


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BP Says Gulf Oil Spill Has Cost $11.2 Billion

LONDON (AP) – BP PLC said Friday that it has pledged royalty revenues from several Gulf of Mexico assets to guarantee payment of claims from the disastrous blowout of its Macondo well. The oil company […]


Texas: BP Refinery Emitted Toxic Chemicals

The Texas attorney general has sued BP, charging the company illegally emitted nearly 500,000 pounds of air pollutants at its Texas City refinery for more than a month this spring.


Texas Accuses BP Of Poorly Operating Its Refinery

Texas environmental regulators are accusing BP of showing a pattern of “poor operation and maintenance practices” at its Texas City refinery, the same plant where a 2005 explosion killed 15 workers.


The Politics of the Spill (Audio)

During my stay in New Orleans to cover the crisis in the Gulf, I ran into one of our regular contributors:  Glenn W. Smith. 


Woman Dives Into Oily Water (Audio)

A woman here with a PHD, Janet Angel, says she dove into the muck off the coast of Grand Isle, Louisiana to prove a point.  She came up coughing up blood.


Walkin' In New Orleans During the Gulf Crisis (Audio)

I walked around downtown New Orleans today to take in the sights and sounds of the city most directly impacted by BP’s oil spill in the Gulf of Mexico. Walking down Bourbon Street, I saw […]


Oil Spill: Looking Back on 100 Days of Crude

(By Mark Strassmann of CBS News) One hundred days into BP’s disastrous spill, the company has finally managed to execute at least one successful “top kill.” Tony Hayward


BP CEO Hayward To Step Down In October

An official says BP CEO Tony Hayward will step down in October and take a job with TNK-BP,


Bonnie Weakened To A Tropical Depression

Click here to track the storm.  Bonnie has weakened to a tropical depression with winds near 35 mph after crossing Florida..  Forecasters with the U.S. National Hurricane Center said the storm was over the Gulf […]


BP's Political Donations Nearly Grind to a Halt (Audio)

Shortly after the explosion of the Deepwater Horizon and the start of the worst oil spill in American history, some politicians were asked if they’d give back donations from the responsible company:  BP.  They didn’t.  […]