BP Raised Risks at ‘Nightmare’ Well, Lawmakers Say (Correct)

By Jeff Plungis

source:businessweek.com
June 15 (Bloomberg) -- BP Plc Chief Executive Officer Tony Hayward is being pressed about cost-cutting that House Democrats said added to the danger of an explosion at the company’s Gulf of Mexico oil well.

“Time after time, it appears that BP made decisions that increased the risk of a blowout to save the company time or expense,” U.S. Representatives Henry Waxman of California and Bart Stupak of Michigan said in a letter yesterday to Hayward. “If this is what happened, BP’s carelessness and complacency have inflicted a heavy toll on the Gulf, its inhabitants, and the workers on the rig.”

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