Tag: Oil Spill

BP Caps Oil Well, Obama Heads Back to Gulf Coast

BP capped the leaking oil well with a containment device referred to as "Top Hat.

BP engineers Thursday night guided a containment dome onto the hydrocarbon geyser shooting from the Gulf of Mexico oil well -- a desperate and iffy attempt to capture the leaking oil and funnel it to a ship on the surface.

...It was not an elegant operation. Furious clouds of oil escaped the "top hat." Coast Guard Adm. Thad Allen, the national incident commander for the spill, called the development a positive step but said, "It will be sometime before we can confirm that this method will work and to what extent it will mitigate the release of oil into the environment."


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DOJ Opens Criminal Probe Into Oil Spill

Attorney General Eric Holder announced today the Department of Justice is opening both civil and criminal probes into the Gulf Oil Spill.

Attorney General Eric H. Holder Jr. said in New Orleans that he planned to “prosecute to the fullest extent of the law” any person or entity that the Justice Department determines has broken the law in connection with the oil spill.

His announcement caused energy stocks to tumble. And
"BP lost 15 percent of its market value during the day’s trading. "

What crimes are being investigated? [More...]

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