Bayoubuzz

Whenever the prospect of drilling for oil and natural gas off North Carolina's coast is raised, environmentalists point to BP's catastrophic Deepwater Horizon oil spill in the Gulf of Mexico in 2010 as a reason to deep-six the idea.

Unfortunately, not enough leaders here have exhibited the political fortitude to get past the fear-mongering over carbon-based fuels and to make the case that scientifically sound, common sense methods of extraction can protect the environment.

A major development on the national stage could force these foes to confront this question: Why is new oil exploration possible off the coast of Alaska, but not off the coast of North Carolina?

Last week, Shell Oil cleared a major hurdle when the Interior Department approved its Oil Spill Response Plan, now a prerequisite for new exploration. Shell has learned the lessons taught by the BP spill and will implement them in the environmentally sensitive

Mississippi settles with MOEX in BP oil spill

House approves giving 80 percent of BP oil spill fines to Gulf fund
By Bruce Alpert, The Times-Picayune. Feb. 17, 2012.
"The House gave voice vote approval Thursday to an amendment that would dedicate 80 percent of Clean Water Act fines from the 2010 BP oil spill to a new Gulf Coast Restoration Trust Fund. The vote was a key victory for supporters of using the fine money to finance environmental restoration in the five Gulf states, but only a first step…" (Read more)

Congress takes a step forward on BP fines: An editorial
Editorial, The Times-Picayune. Feb. 18, 2012.
"A House vote Thursday that approved dedicating 80 percent of Clean Water Act fines to Gulf Coast states is a significant step toward giving Louisiana and its neighbors fair treatment following the 2010 BP disaster. Rep. Steve Scalise wrote the amendment, which is attached to a Republican bill that calls

Tom Bergin

Reuters

LONDON: Oil giant BP Plc launched a plan to repair its battered image in the United States on Tuesday, ditching its gaffe-prone chief executive and promising to slim down by trebling an asset sale target to $30 billion.

However, the company, the target of public anger over its Gulf of Mexico oil spill, tempted further ire by denying it needed cultural change and offsetting the costs of the spill, including expected fines, against its taxes.

The tax move will cost the US taxpayer almost $10 billion.

BP said Tony Hayward would stand down in October, to be replaced by American Bob Dudley, as it unveiled a $17 billion loss for the quarter due to the costs of the biggest oil spill in US history.

“I believe that it is not possible for the company to move on in the United States with me remaining as