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Gulf Oil Spill Begins To Reach Land As BP Struggles To Contain Leak

Yesterday’s Gulf of Mexico lease sale brought in just over $102 million in high bids, less than the two previous sales. Various news outlets described it in less-than-glowing terms. Oil & Gas Journal called the results “lackluster“, while Fuel Fix said the sale drew “tepid interest“. “This sale was not eye-popping, and may be closer to a… Keep reading →

The tragic Deepwater Horizon accident and devastating uncontrolled crude oil spill into the Gulf of Mexico deeply affected the oil and gas industry. The disaster prompted oil and gas industry trade group – API – to comprehensively re-evaluate and strengthen its offshore safety standards.

Specifically, API has “established a multi-layer system, with many built-in redundancies to help prevent incidents, to intervene and stop a release that might occur, and to manage and clean up spills,” Group Director of Upstream and Industry Operations Erik Milito told reporters during a recent question and answer session ahead of the two-year anniversary of the accident on April 20. Keep reading →