Congress wants to determine how much oil spilling into the Gulf of Mexico from the accident at the BP oil rig. Although BP has said 5,000 barrels a day were spilling from the well, new reports say it could be more than 10 times that amount.
The House of Representatives will hear testimony from oil executives who shared responsibility in the BP oil rig disaster. John Dimsdale covers the finger-pointing and a proposed $10 billion liability cap.
Executives from BP and its drilling rig partners tried to explain to the Senate Energy Committee how the Gulf oil accident wasn't their fault. Now changes may be coming to the agency that regulates offshore drilling. Brett Neely reports.
Heads of BP, Transocean and Halliburton are on Capitol Hill this morning to explain to Congress what went wrong in the BP oil accident. A lot of finger-pointing is expected. Stacey Vanek-Smith talks to John Dimsdale.
BP has bought a stockpile of a chemical called Corexit to use on the oil slick, a product that breaks up the slick into tiny droplets that sink underwater. Environmentalists worry the toxic material will hurt sea life. Jill Barshay reports.
Alongside the gargantuan clean-up costs of the BP oil leak are the costs to the local seafood industry, which supplies more than 20% of the nation's seafood. The spill has a huge potential impact on demand. Sabri Ben-Achour reports.
With all this oil leaking into the Gulf of Mexico, what do folks in the energy industry think it means for their fortunes? Rob Schmitz reports that for folks at the annual Offshore Technology Conference, it's been a nail-biter.
In light of the Gulf of Mexico incident, this is not the first time that Transocean, which built the faulty oil rig, has had safety issues. Stacey Vanek-Smith talks to Marketplace's Stephen Beard, who recalls the company's troubles in Britain.
Offshore drilling safety is the focus of an annual oil industry gathering in Houston. Some wonder why more countries don't require an acoustic switch that could help prevent accidents. Stacey Vanek-Smith talks to Marketplace's Rob Schmitz.
