Monday morning, BP announced that their costs for the oil spill in the Gulf of Mexico are up to $2.65 billion; rumors over BP CEO Tony Hayward’s resignation are untrue the company said. Expenses in the Gulf were $100 million a day over the weekend.
Over the weekend, a Russian news agency reported that a senior Russian Cabinet official reported that Tony Hayward will resign as BP’s CEO. Deputy Prime Minister Igor Sechin was reported as saying, "Hayward is leaving his post, he will introduce his successor."
BP spokeswoman Carolyn Copland said the quote "is definitely not correct." Other BP spokespeople also reported that the news is false.
BP’s stock has dropped about half of its value since the oil spill began in April, and the company has lost over $100 billion in market value. BP stock dropped another 6% on Friday.
To date, BP had paid out over 80,000 claims in the Gulf coast that have totaled over $128 million.
Sunday morning, the first oily tar bars washed ashore in Mississippi; by Sunday afternoon a 23-person crew began to clean up the mess along the shores of Pascagoula, Mississippi. For more on that story, click here.
Over the weekend a tropical storm formed in the Caribbean and is currently projected toward Belize and Mexico's Yucatan Peninsula. Hurricane Alex is expected to hit land by early Thursday. The storm may halt operations in the Gulf of Mexico for up to two weeks. For more on that story, click here.
Thursday, a New Orleans judge is expected to rule if the government ban on deepwater drilling will continue in the Gulf of Mexico. Obama’s administration asked Judge Martin Feldman to delay his decision on lifting the ban until an appeals court can get to the case later this summer. The judge denied that request. For more on that story, click here.
A lawsuit was filed from a group of companies that state the government has no evidence that the existing operations pose a threat to the Gulf of Mexico, and asked that the ban be removed. The companies provide boats and equipment to the drilling industry. For more on that story, click here.
To see incredible photos of the oil spill in the Gulf of Mexico, click here.
To see photos taken recently of the oil spill that hit the Louisiana coastline and the wildlife it has affected, click here.
Sunday, a BP document was released by Rep. Edward Markey, D-Massachusetts that gave the worst case scenario of the oil spill in the Gulf of Mexico; the report stated that an estimated 100,000 barrels (or 4.2 million gallons) could leak into the ocean per day. The report was created after the Deepwater Horizon oil rig exploded and was submitted in May. For more on that story, click here.
BP shareholder class action lawsuit was filed last week in the Eastern District of Louisiana and the organizers of the suit hope to bring angry people all over the world together. The case alleges that BP was not conducting a safe operation in oil drilling, but misled the public by acting as though they were. For more information on that story, click here.
Actor Kevin Costner has invested about $26 million into his Ocean Therapy Solutions machine, and six of the machines were sent to the Gulf for testing. BP has ordered 32 more machines that recycle water to separate the oil. For more information on this story, click here.
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Source: The Associated Press
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