June 2, 2010

BP Criminal Inquiry News

There is no doubt at this point that the BP oil spill is a man-made disaster and tragedy of historic proportions. But is this man-made outrage also a prosecutable crime?

The US government is seeking to answer that question, as they begin a criminal inquiry into the huge spill from the BP oil pipeline, that is ravaging the environment and will impact our ecology for decades to come at least.

Sad Eric Holder, "If we find evidence of illegal behavior, we will be extremely forceful in our response. There are a wide range of possible violations under these statutes, and we will closely examine the actions of those involved with the spill."

The oil spill is expected to be one of the worst environmental disasters in history, as well as a affecting the economy and our energy issues. It's not yet clear how this will affect our energy policy in the long term. Drill baby drill doesn't seem quite as enticing as it used to be though.

BP Criminal Inquiry News

Reporting from Washington and New Orleans-- Striking an increasingly aggressive posture as the Deepwater Horizon disaster enters its second month, the Obama administration said Tuesday it would launch a criminal investigation into the origins of the Gulf of Mexico rig explosion that killed 11 people and caused the largest oil spill in U.S. history. News of the criminal inquiry sent BP stock tumbling again Tuesday. Shares fell almost 15% to $36.52 on the New York Stock Exchange. The company has lost about $67 billion in market value since the explosion, while BP's cleanup costs are nearing $1 billion.

Posted at June 2, 2010 2:35 AM