Hamilton Nolan · 07/15/16 02:50PM

BP says that the total cost to the company for its 2010 Gulf of Mexico oil spill will be nearly $62 billion. That is nearly eight times the total annual budget of the US Environmental Protection Agency.

Apple Overtakes Google As World's Most Powerful Brand

Seth Abramovitch · 05/08/11 11:12PM

One need only look to the iPad 2 feeding frenzies currently gripping China for evidence that Apple is the hottest brand on the planet. And now it's official: Research company Millward Brown puts Apple at the top of their annual 100 global brand power list, knocking Google off the throne its held for four years running. The iPad has helped Apple grow 84%, to an estimated worth of $153 billion.

House Republicans Lend Big Oil a Hand

Jeff Neumann · 05/06/11 04:15AM

Geez, the federal government sure has made the last year so tough for struggling oil companies to get new offshore drilling leases. And if there's one sector that needs a helping hand these days, well, it's oil. But thanks to House Republicans those dark days will soon be over! Yesterday a bill was passed — creatively titled the Restarting American Offshore Leasing Now Act — by a vote of 266-to-149 to bring back offshore drilling auctions, which had been shelved in order to make sure safety and environmental concerns were addressed — a long, drawn out mess that was probably pretty annoying for oil companies.

BP Fined for Another Oil Spill

Jeff Neumann · 05/04/11 04:15AM

Pariah oil company BP is settling charges by paying $25 million in civil fines over two oil spills on Alaska's North Slope in 2006, and for basically ignoring court orders to properly maintain their pipelines. How shocking! According to a report in the Times, "The fine is the largest per-barrel assessment ever levied against an oil company in a spill case and represents a new blow to BP's corporate treasury and reputation." Yes, it's a new blow to BP's reputation, but it's doubtful the company's rep can get much worse than it already is.

BP Goes on a Suing Spree

Jeff Neumann · 04/21/11 05:32AM

BP went after three companies yesterday with lawsuits for "misconduct" (ha!) and for tarnishing its good name over the Gulf of Mexico oil spill last year, most notably Halliburton. Yesterday's filing blasts Halliburton for "improper conduct, errors and omissions, including fraud and concealment," and it is thought the company is seeking some $42 billion in damages. But don't worry, Halliburton is used to this sort of thing. They'll probably be just fine.

How the Doobie Brothers Conquered the Gulf Oil Spill

John Cook · 04/12/11 02:22PM

After ejaculating 5 million barrels of oil into the Gulf of Mexico, BP doled out $750 million to state and local governments in a panicked attempt to seem less evil. The states, being dutiful stewards of the environment, directed the money to cleanup and mitigation. Kidding! No, they spent it on the Doobie Brothers and iPads.

Dead Gulf Dolphins Found Covered In BP Oil

Jeff Neumann · 04/08/11 07:33AM

In not-very-shocking news from the Gulf of Mexico, scientists have said that six dolphins that washed up on the shore there had oil on them, and National Oceanic and Atmospheric Administration officials have traced the oil directly to last year's BP spill. Previously, experts said that "unusual mortality events" were responsible for the deaths of over 400 baby dolphins in the Gulf. Well, we have a culprit for at least a few of them now.

Transocean: Sorry for Being a Little 'Insensitive'

Jeff Neumann · 04/05/11 06:06AM

Last week, the owner of the fiery death trap Deepwater Horizon oil rig, Transocean Ltd., announced in a SEC filing that it was handing out huge bonuses to its top executives for the "best year in safety performance in our company's history." Transocean CEO and big bonus recipient Steve Newman also made a point that of the 11 crew members who died on the oil rig last year, 9 of them were Transocean employees. Who cares about those other guys, right? Unsurprisingly, that filing pissed off a lot of people. So now they're really sorry for saying that... really!

Transocean Gives Bonuses for 'Safety Performance'

Jeff Neumann · 04/03/11 08:02AM

Remember Transocean Ltd., the company that owned the BP-operated Deepwater Horizon oil rig that exploded in a hellish ball of fire, killing 11 workers and setting off the massive Gulf oil spill last year? In documents filed with the SEC on Friday, the company announced it was handing out bonuses to senior executives for overseeing the "best year in safety performance in our company's history." Perhaps that's because, as Transocean CEO Steve Newman wrote in a statement, "Of the 126-member crew [on the Deepwater Horizon], 115 were safely evacuated." He also points out that only 9 of the 11 dead were Transocean employees.

Possible Manslaughter Charges for BP Managers

Jeff Neumann · 03/29/11 07:13AM

Bloomberg reports today that the Justice Department is exploring manslaughter charges against BP managers over the deaths of 11 workers on the Deepwater Horizon offshore oil rig last year. According to the report, invesitgators want "to determine whether [BP managers'] testimony was at odds with what they knew." In other words, they want to know if Tony Hayward and his pals were lying through their teeth to congress during testimony last summer.