Wednesday, March 14, 2012

Summary: Panel backs many of BP's conclusions

OIL SPILL INVESTIGATION: The preliminary findings by a presidential commission on the BP Gulf oil spill back up many of the conclusions reached by BP. The commission's chief investigator said Monday he agreed with "about 90 percent" of the company's findings.

PLACING BLAME: BP PLC faulted the work of a contractor, Halliburton Co., and drilling rig owner Transocean Ltd. Critics said BP's report was self-serving. The presidential commission said it found no evidence that BP made risky choices to save money while completing the well, which blew out April 20 in an accident that killed 11 workers and dumped more than 200 million gallons of crude oil in the Gulf.

CRITICS OUTRAGED: They accused the presidential panel of going easy on BP. Daniel Becnel, a Louisiana lawyer suing BP, said the commission's findings were "absolutely absurd" and designed to protect the government from being sued.

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