BP today released the results of its own investigation into the Deepwater Horizon accident. It determined that a series of mechanical failures, the misinterpretation of data, and other factors attributable to all of the companies working on the rig led to the explosions, fire and the deaths of 11 offshore workers.

In a news release, BP reported that crew "failed to recognise (sic) and act on" hydrocarbons that flowed up the well casing for 40 minutes. Some of the gas entered the engine rooms through the ventilation system where it might have ignited. Although the blowout preventer should have stopped the flow of hydrocarbons even after the fire began, it failed to function properly.

BP's investigative team recommended 25 actions to prevent a similar accident from occurring in the future. B... more »

Several activities are underway today that could have a significant impact on America's energy policy. They include congressional efforts to pass energy legislation as well as the killing of the leaking Macondo well.

Today the U.S. House of Representatives is expected to vote on the Consolidated Land, Energy, and Aquatic Resources Act of 2009 (CLEAR) Act. This bill is purported to be a response to the Gulf oil spill, but it reaches far beyond the accident.

If passed, it would impose higher energy taxes, require the federal takeover of state offshore waters, restrict offshore energy development and remove the liability cap on oil spill damages, which would exclude small- to mid-size energy companies from operating in the Gulf.

The bill is a jobs killer and API opposes it. The House is likel... more »