• 3 minutes War for Taiwan?
  • 7 minutes How China Is Racing To Expand Its Global Energy Influence
  • 10 minutes Is it time to talk about Hydrogen?
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 3 hours Tesla Semi
  • 17 hours “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 17 mins “Consumers Will Pay For Carbon Pricing Costs” by Irina Slav
  • 4 hours CV19 VACCINE : Medical Ethics , "Do no harm"
  • 2 days Mail IN Ballot Fraud
  • 3 days Nord Stream 2 Halt Possible Over Navalny Poisoning
  • 3 days WTI / ​​​​​​​Price Forecasting 
  • 3 days Russia loses its chance to capture the EU gas market
RFE/RL staff

RFE/RL staff

RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…

More Info

Premium Content

Cost Cutting Led to the Gulf Oil Disaster

A U.S. presidential panel has concluded that energy firm BP and its partners made a series of "systemic" cost-cutting decisions that led to the oil spill that polluted the Gulf Of Mexico coast last year.

In its final report on the causes of the largest offshore oil spill in U.S. history, the commission on January 5 said that many of the decisions made by BP and its partners, Halliburton and Transocean, had saved the companies "significant" time and money, but had increased the risk of an accident.

The commission added that government regulators lacked the necessary authority, resources, and technical expertise to oversee the companies, and that without "significant" reform in both oil industry practices and government policies, it remains possible that another similar disaster could occur.

BP, Halliburton, and Transocean were the three key companies involved in the operations of the undersea well and rig that exploded last April, killing 11 workers and sending millions of barrels of crude into the Gulf.

Several other investigations into the explosion are under way, including one by the U.S. Justice Department and another by the U.S. Coast Guard and the Bureau of Ocean Energy Management, Regulation and Enforcement panel.

Source: RFE/RL


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News