02 June 2010

US Begins Oil Slick Probe

The US government has begun its probe into the BP oil spill disaster in the Gulf of Mexico.

News that a criminal investigation was to take place sent US shares tumbling in the US on Tuesday, with energy in the lead. BP shares broadly lost value as investors shied away from its tainted reputation.

The cleanup operation in the Gulf of Mexico continues. There are still frequent reports that the efforts to contain the oil slick are just driving clouds of the murky liquid down, deeper into the waters.

The latest estimate for the end of the clean is August. The amount of damage that the oil will have achieved by then is hard to imagine and will certainly give BP a tough time ahead.

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