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June 04, 2010
Wankwatch Day 46: Considerable.
We meditate on finally joining the Sierra Club:
BP: cleanup costs for oil spill will be 'severe'
LONDON (AP) — BP Chief Executive Tony Hayward sought Friday to reassure investors about the fallout of the oil spill, saying the company has "considerable firepower" to cope with costs he acknowledged will be "severe" and long-running.
Hayward and other senior BP PLC executives struck a penitent note in their first comprehensive update to shareholders since the explosion at the Deepwater Horizon rig six weeks ago, stressing their commitment to rebuilding BP's tarnished reputation, improving safety measures and restoring the damaged Gulf coast.
Posted by Holden Oliver (Kitzbühel Desk) at June 4, 2010 11:59 PM