Daily Archives: June 15, 2010

Sheila McNulty

As Congress debates how to prevent another gulf spill like that impacting an ever-growing portion of America’s coastline, it is looking at the possiblity of imposing a significantly higher liability cap for operators in the gulf. PFC Energy says this will limit the ability of smaller companies that had making their way ever deeper into the Gulf to compete. Indeed, the consultancy notes, the implication of changes to liability levels and also liquidity tests being considered could reduce the number of qualified operators in the Gulf of Mexico from over 100 down to three – BP, ExxonMobil and Royal Dutch Shell. Read more

Kate Mackenzie

Remember BP’s Gulf of Mexico spill response plan talked about how walruses, sea otters and other animals not found in the region would be protected? Other big oil companies are accused of doing the same.  Read more

Kate Mackenzie

Will Obama mention pricing carbon in his first Oval Office speech tonight? There are plenty of reasons why not: the administration needs to win over more of the public on its response to the Gulf disaster, and a climate bill is still politically very difficult. Cap and trade itself, meanwhile, isn’t likely to be faring much better in the public opinion now than it ever has.  Read more

Fitch cut BP’s credit rating a full six notches to BBB from AA on Tuesday.

The agency also set its rating watch on BP to ‘evolving’ from negative, as credit risks from the Deepwater Horizon spill remained unclear. Read more

Kate Mackenzie

Just as the big oil companies are expected to distance themselves from BP at Congressional hearings today, it seems that some Gulf shallow water oil and gas operators are seeking to distinguish themselves from their deepwater counterparts.  Read more

Fiona Harvey

There were surprising signs of harmony at the last round of climate change talks. But this began to break down over matters big and small when the subject of pursuing a 1.5 degree warming limit was introduced.  Read more

Kate Mackenzie

BP had a rather chilling warning included in its plan to increase the amount of oil it collects from the Macondo well (our emphasis).  Read more

Kate Mackenzie

The House Energy and Commerce Committee has published documents relating to its hearings into the Deepwater Horizon accident and subsequent oil leak. Read more

Kate Mackenzie

- Gasoline/petrol should cost $4.60/gallon in the US

- How to think about oil spills

- Years of BP internal probes warned of neglect

- Measuring methane spilled

- Natural gas’ occasional tantrums not quite over [And more] Read more

Kate Mackenzie

- Obama to set bigger energy targets – FT

- US seeks $20bn BP fund – FT

- Production faces two-year setback – FT

- BP warns over latest oil capture plans – FT

- Onshore oil spill response is described as chaotic – NY Times

- BP may lose oil leases, contracts as spill punishment – Bloomberg [And more] Read more