Tag Archive "bp"

Deepwater Horizon oil spill as seen by NASA's Terra Satellite

BP Managers Repeatedly Lied Before and After Gulf Catastrophe about Safety and Risk Control Programs, Retirement Funds Say; But, Meritorious Investor Lawsuits May be Axed

February 7, 2013 - The BP Macondo well catastrophe in the Gulf of Mexico was caused “not as some have suggested by a coincidental alignment of disparate technical failures,” but by the “overarching failure of management,” concluded the National Commission on BP’s Deepwater Horizon Oil Spill. Internal e-mails to be filed as evidence in a civil trial later this month reportedly demonstrate that BP managers knowingly lied about the size of the oil leak to regulators, the public and, ultimately, investors.