BP, Gulf partners let the lawsuits fly
Many parties tied to the blowout at BP’s Macondo well filed suit against one another in recent days in order to preserve their rights to make certain claims under several statutory deadlines that expired Wednesday — the one-year anniversary of the deadly Deepwater Horizon explosion and ensuing oil spill. More »
BP to provide $1 billion for Gulf environmental projects *updated*
The money will go toward restoring natural resources in the Gulf of Mexico damaged by last year’s oil spill. Texas and four other states will each receive $100 million. Wildlife experts said the money from BP is a positive first step, but more will be needed to heal the region. More »
Linking mileage to pump price
Auto makers are pushing to link federal fuel-economy and emissions targets to the price of gasoline, saying consumers won’t pay enough for fuel-efficient cars to make them profitable if gas prices aren’t high. (W$J) More »
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The U.S. Energy Information Administration, distributor of the world’s most scrutinized and transparent energy statistics, is facing tough budget choices on account of the government’s ongoing debt ceiling fiasco. (Via FT Energy Source) More »
Obama jabs ‘climate change deniers’
At a California fundraiser, the president also called curbing oil reliance a “national security imperative.” (Via The Hill’s E-2 Wire) More »
Former Amaranth trader fined $30M
Former Amaranth trader Brian Hunter, a natural-gas trader who gained notoriety for causing the collapse of hedge fund Amaranth Advisors, was fined $30 million for his “intent” to manipulate prices. (Via W$J) More »
The spill investigations so far…
A year after the deadly blowout of BP’s Macondo well, these are the key conclusions of investigations into the Deepwater Horizon disaster. More »
India rig workers exploited after Katrina, feds allege
Hundreds of immigrants from India came to work for Signal International in Orange in the aftermath of Hurricane Katrina. The Equal Employment Opportunity Commission claims they were forced into oppressive living arrangements and discriminatory working conditions. More »
North America lifts Schlumberger, Weatherford but Diamond slips
Oil field services giants Schlumberger and Weatherford reported improved first-quarter earnings today, despite the unrest in the Middle East, while offshore driller Diamond Offshore declined on a drop in daily rig rental rates. More »
The spill’s other lingering effects
Fishermen continue to struggle along the Louisiana coast in the wake of the Deepwater Horizon disaster, Loren Steffy writes. While the oil is gone from the water’s surface, it gets stirred up when they try to take oysters from their reefs, or when they drop anchor in the marshes. More »
Oil keeps climbing as dollar weakens again
At one point on Thursday the dollar dropped to a 16-month low against the euro. Since oil is priced in dollars, it becomes more attractive to buyers holding foreign currency as the dollar gets weaker. More »
High pump prices prompt feds to create energy fraud group
Federal agencies that already have energy market oversight are being asked to pool their efforts to keep an eye on gasoline prices. One commodities expert calls the effort redundant and politically motivated. More »
April 26, 2013
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