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BP Oil Spill Update: BP Made Risky Choices

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Dulcinea Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-15-10 04:02 PM
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BP Oil Spill Update: BP Made Risky Choices
Source: TheStreet

GULF COAST, U.S. (TheStreet) -- The BP(BP) effort in the Gulf of Mexico will be matched this week by its effort on Capitol Hill.

BP Americas president Lamar McKay is expected to receive a grilling on Tuesday in Capitol Hill testimony, a preview of what is in store for BP CEO Tony Hayward when he appears before the House on Thursday morning. On Monday afternoon, Congress released internal BP documents showing that the oil giant made risky decisions leading up to the oil spill. In an e-mail message released by the House, BP engineers refer to the Deepwater Horizon well as a "nightmare."

In a letter to BP ahead of McKay and Hayward testimony this week, the House Committee on Energy and Commerce states that delays in completing the well "created pressure to take shortcuts," the House letter said, and corners were cut in designing the well, in preparing for and testing the cementing job, and in assuring that the well was properly sealed. House claims that BP decision-making "increased the danger of a catastrophic well" will be a major focus of this week's testimony.


Read more: http://www.thestreet.com/story/10770971/1/bp-oil-spill-update-bp-made-risky-choices.html?cm_ven=GOOGLEFI
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