BP

California Cities Sue Oil Companies over Climate Change

City attorneys in San Francisco and Oakland, California, sued five oil companies in two coordinated lawsuits on Tuesday, arguing that the courts should hold these companies responsible for climate change, and force them to financially compensate the cities for harm the plaintiffs claim those companies are causing to the planet’s environment.

american worker

BP Quarterly Profits Collapse On Tumbling Oil Prices

BP profits collapsed in the third quarter as oil prices halved on back of the stubborn global supply glut, the British energy giant said Tuesday. The London-listed energy major, which was ravaged by the catastrophic 2010 Gulf of Mexico oil

AFP
GettyImages-108695961

Oil Is Down. Gasoline Isn’t. What’s Up?

A little more than a year ago, oil prices reached above $100 a barrel. Gasoline averaged in the $3.50 range nationally. In late spring, oil appeared $60ish and the national average for gas remained around $2.70. The price of a barrel of oil has since plunged to $40 and below—yet, prices at the pump remain just slightly less than they were when oil was almost double what it is today.

The Associated Press

BP to Pay Texas $780M Over Oil Spill

Texas will receive more than $780 million from BP as part of a $20.2 billion settlement agreement with Gulf states in connection with the 2010 Deep Water Horizon oil spill. The settlement agreement follows a federal judge ruling that found BP at fault for gross negligence in the spill, which released nearly 134 million gallons of oil into the Gulf of Mexico.

Ships

Deepwater Horizon Five Years Later: Lessons Learned

Five years ago, following a blowout and explosion on the Deepwater Horizon rig that killed 11 workers, the nation was spellbound by the 87-day visual of oil flowing freely into the waters of the Gulf of Mexico from the Macondo well. The 3.1 million barrels of spewed oil has been called “the world’s largest accidental marine spill” and “the worst environmental disaster in U.S. history.

The Associated Press