2012 Doomsday Predictions

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NEW ORLEANS (AP) – Some of the companies sued over the massive Gulf oil spill are asking a federal judge to postpone until 2012 a trial designed to assign percentages of fault in the ill-fated Deepwater Horizon drilling project.

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American Bob Dudley becomes CEO of BP, succeeding Tony Hayward; Thad Allen also steps down
NEW ORLEANS – They were both pivotal figures following the worst offshore oil spill in U.S. history: one for angering Gulf residents with his ill-conceived comments about wanting his life back and by attending a weekend yacht race, the other for his ubiquitous presence along the crude-stained shores.

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Gulf oil spill panel: Federal confusion lost public trust
WASHINGTON (AP) — The Obama administration’s repeated low estimates of the huge BP oil spill undermined public confidence in the government’s entire cleanup effort, leaders of a White House-appointed commission declared at an investigatory hearing Monday.

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BP says oil spill costs rise to $11.2 billion
BP PLC said Friday that it has pledged royalty revenues from several Gulf of Mexico assets to guarantee payment of claims from the disastrous blowout of its Macondo well.

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Transocean Bonds Surge After BP Issue Curbs Spill ‘Pessimism’
Transocean Ltd. bonds soared and were the most traded in the U.S., as BP Plc ’s debt offering this week signaled renewed investor confidence in companies involved in the Gulf of Mexico oil spill.

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