Exxon Valdez

With BP's undersea well in the Gulf of Mexico still gushing oil and cleanup efforts barely making a dent, everyone wants to know what the long-term effects on the environment and human health are. In fact, very little is known about these interactions.

What happens when companies pollute? Sometimes -- though not always -- they have to pay. BP's $20 billion fund to compensate for damages to the Gulf of Mexico ranks as the biggest environmental payout of all time. What other industrial giants make the list?

The president's latest reactions to the BP oil spill have the media agog about his use of a "naughty word." But it's long past time for cranking up the rhetoric. It's time for Obama to crank up his energy level -- and lead like he's seemingly capable of doing.

Most of the analysts who follow BP still urge investors to buy its stock, and none recommend selling -- 12 rate it a buy, and five recommend holding. Will a federal criminal probe change their minds?

National Wildlife Federation officials toured the Gulf area hit by the BP oil spill and found devastation: "It's as if two Exxon Valdez tankers have already run aground -- and more are on the way if they don't get this hole plugged."

By most estimates, the BP oil leak will be worse than the Exxon Valdez spill. Who is to blame, and more importantly, how can we prevent future disasters? Taking a clear-eyed look at the consumption demand that drives the oil business is a good start.

The Transocean rig isn't likely to threaten the U.S. shoreline with a large amount of oil. And if the well leak can be capped soon, the total spill might be kept under 20,000 barrels. That would be an ecological hazard, but it might not be an awful one.