Latest Energy Headlines

Oil Rig Tragedies Shock Insurers, Destabilize Market, Says Willis

Jun 21 2010 // The U.S. Deepwater Horizon and Venezuelan Aban Pearl drilling rig losses have left upstream energy insurers with an unprecedented bill of $795 million within the space of a single month, destabilizing the market and...

FEMA: Insurance Applies If Oil from BP Spill Mixes with Flood Waters

Jun 21 2010 // The Federal Emergency Management Agency has clarified that in the event of a declared flooding disaster, flood insurance coverage will apply even if oil from the BP deep well blowout mixes with floodwaters. The National...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...

Louisiana AG Files Petition Against BP

Jun 21 2010 // Louisiana Attorney General Buddy Caldwell has filed a Petition for Discovery and Investigation against British Petroleum in state court in Plaquemines Parish as a result of the massive oil spill in the Gulf of Mexico. The...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...

Jun 21 2010 // 71 As of June 5, the Louisiana Department of Health and Hospitals had received 71 reports of health complaints thought to be caused by exposure to pollutants from the British Petroleum oil well blowout off the coast of...

FEMA: Insurance Applies if Oil from Spill Mixes with Flood Waters

Jun 21 2010 // The Federal Emergency Management Agency has clarified that in the event of a declared flooding disaster, flood insurance coverage will apply even if oil from the BP deep well blowout mixes with floodwaters. The National...

Oil Fears May Hurt Gulf States’ Economies More Than BP Spill

Jun 18 2010 // Fear that oil from a huge BP Plc spill will damage Mississippi’s coast is hurting the state’s economy more than oil damage itself, according to a new report. Tourists are staying away from restaurants and...

How New Independent BP Claims Process Should Work

Jun 17 2010 // The White House offered an explanation Wednesday of how its new independent claims process would work for those harmed by the BP oil spill, including details of a $20 billion escrow account funded by the British oil...

BP Oil Spill Costing Mississippi Coast $120 Million: Report

Jun 17 2010 // The Gulf of Mexico oil spill will cost Mississippi’s coastal counties nearly $120 million in lost tourism and service industry revenues this summer season, even though the state’s beaches have not been hit by...

Health Complaints in Louisiana from Oil Spill Pollutants Now at 109

Jun 17 2010 // There have been 109 reports of health complaints believed to be related to exposure to pollutants from the BP oil spill, according to the Louisiana Department of Health and Hospitals. That number is up from 71 complaints...

Documents Reveal BP Cut Safety on Oil Rig to Save Money, Time

Jun 16 2010 // President Barack Obama promised that life would return to normal for people living on the stricken Gulf Coast, and BP said new efforts will more than triple the amount of oil it captures from a ruptured undersea well. But...

Obama Demands BP Set Up Independent Account for Oil Claims

Jun 16 2010 // President Barack Obama, seeking to demonstrate strong leadership on the Gulf of Mexico oil spill, will demand today that BP set aside billions of dollars to pay damages from the catastrophe. A day after he vowed to fight...

Obama Seeks BP Escrow Account to Cover Oil Claims

Jun 14 2010 // President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster. The move comes as Obama, who will...

BP Oil Spill Claims Hit $1.6 Billion

Jun 14 2010 // BP said the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days. London-based BP said in...

Bill Would Lift North Carolina’s Oil Spill Liability Cap

Jun 14 2010 // North Carolina’s current cap for monetary damages it could receive from oil spills would be eliminated in legislation approved last week by a House committee in response to the BP disaster in the Gulf of...

Possibility of BP Bankruptcy Due to Oil Claims Seen Remote For Now

Jun 11 2010 // The chances of BP declaring bankruptcy to deal with oil-spill claims are remote for now, bankruptcy professionals said, although that option would be open to the company if liabilities became overwhelming — and that...

Mississippi, Florida AGs Putting Pressure on BP

Jun 11 2010 // Attorneys general in Florida and Mississippi are upping the political pressure on BP over the oil gusher that is threatening their states and the entire Gulf Coast. Florida Attorney General McCollum sent a letter to BP...

Travelers Adds SolarPak Coverage to Its EnergyPak Products

Jun 10 2010 // According to the National Renewable Energy Laboratory, a fourfold increase in demand for and production of solar photovoltaic (PV) is expected between 2008 and 2012. To help protect its clients who are installing solar...

BP’s U.S. Shares Plunge on Oil Spill Liability Fears

Jun 10 2010 // BP Plc shares tumbled nearly 16 percent on U.S. exchanges to a 14-year low Wednesday on rising fears about how the wounded company will cope with the massive costs of the Gulf of Mexico oil disaster. The stock has now lost...