gulf of mexico oil spill

BP Oil Spill Could Lower Gulf Coast Home Prices By $56,000

The decline in property values could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic. The BP oil spill could wipe out the premium that buyers normally pay to be near the ocean. The total losses along the Gulf coast could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic Inc. The spill could wipe out the premium that buyers normally pay to be near the ocean.

House Votes to Lift Oil Spill Liability Cap

A bill that passed the House of Representatives on Friday would, among other things, eliminate the $75 million cap on liabilities related to oil spills. The overhaul of the nation's offshore drilling regulations would require oil companies to pay the full cost involved with any spills.

BP CEO Tony Hayward Gets Banished to Siberia

Embattled BP CEO Tony Hayward, whose penchant for verbal gaffes deepened the psychological wounds caused by the worst oil spill in U.S. history, will step down from the top job effective Oct. 1 to take over as head of BP's joint venture in Russia, TNK-BP.

BP Profits Set to Surge Despite the Oil Spill

Despite the rising costs associated with the Deepwater Horizon oil spill in the Gulf of Mexico, BP's second-quarter earnings are likely to be strong when they are reported late Monday: The energy giant's quarterly revenues are expected to be up 28% from a year earlier.

Three High-Quality Stocks That Could Double

Formula Capital's James Altucher says that there has never been a better time to pick up high-quality stocks at bargain prices -- as long as you choose the right ones. Altucher recommends three "beaten over the head with a bat" stocks he expects will double in the next one to two years.

Legal Briefing: BP's Partners Will Negotiate on Oil Spill Bills

Mitsui Offshore Exploration and Anadarko Petroleum, BP's partners in the Deepwater Horizon well, now refuse to share in the liability for the Gulf oil spill, saying BP's gross negligence frees them from liability. But before the issue goes to arbitration, they're going to try to talk it out.

BP Delays Crucial Test of New Cap on Gulf Oil Well

BP (BP) delayed a crucial test that will determine if it can close a new cap on the leaking oil well in the Gulf of Mexico. The London-based oil giant delayed tests that were meant to assess whether the well can handle the pressure of closing the cap at the wellhead, Reuters reported. The test was scheduled for Tuesday.

FTC warns of Gulf oil spill job scams

The Federal Trade Commission is warning consumers again about scams related to the BP Gulf oil spill and clean-up effort. This time it's alerting...

One Gulf Shrimper's Tale of BP Oil Spill Woe

Shrimper John T. Christmas probably would have had a good year were it not for the BP oil spill. Now, the 60-year-old from Tarpon Springs, Fla., and thousands like him who have made their livings on the Gulf of Mexico, are wondering if they'll have any future at all in the wake of the spill.

Legal Briefing: Intel Offers Deal to FTC

Intel has been sued a few times for monopolistic behavior in the chip market, but the current Federal Trade Commission case is different from the others. The FTC isn't seeking monetary damages or penalties: It wants Intel to change how it does business.

BP's Hayward: 'I Wasn't Involved' in Rig Decisions

The embattled CEO stuck to his script Thursday, expression contrition and offering empathy. But when pressed for details and explanations, he wouldn't go beyond: "I think it's too early to reach conclusions."

BP's Hayward Offers Few Answers to Congress

"I understand people want a simple answer about why this happened and who is to blame," BP CEO Tony Hayward said in his prepared remarks. "The truth, however, is that this is a complex accident, caused by an unprecedented combination of failures."

As BP Oil Gushes, Obama's Energy Call Falls Flat

President Obama tried to offer hope for the Gulf Coast, saying he had directed BP to take steps to "capture up to 90% of the oil." But his qualified language sounded hollow -- as did his green "national mission." And the oil gushes.

Congress to Oil Execs: Can We Trust You?

Executives from the nation's largest oil companies will be on Capitol Hill on Tuesday morning to testify before lawmakers about the safety of offshore oil drilling and future U.S. energy policy.

Can the BP Oil Spill Get Any Worse? Yes

As the oil spill disaster enters its 49th day, efforts to control the oil flow and the spilled crude continue to be hampered by a lack of information -- and transparency -- from BP. And some troubling evidence raises new questions.

President Obama: How About Kicking Your Own Ass?

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.

Forget About the Oil Spill -- BP Could Be a Buy

As British energy giant BP struggles with one of the worst ecological, financial and PR disasters in recent history, its shares have been royally pummeled. Yet there are plenty of reasons why BP may look like a buy.