BP announced a $5 billion loss last year -- no surprise after the company dealt with the Gulf oil spill. But the numbers could have been much worse. As Stephen Beard explains, BP is actually paying a dividend to its shareholders for the first time since the spill.
The president's oil spill commission is set to release its report this week, and is expected to point fingers at the oil industry. But petroleum companies are counteracting with advertisements about its job creating abilities. Will these help its reputation?
The BP report released today by the president's commission didn't reveal anything unexpected, but it did recommend no new permits for drilling in the Arctic until safety technology matches drilling ability. Eve Troeh reports.
The oil market braced for a big surge in prices following a pipeline leak that was discovered Saturday in Alaska. A leak that shutdown all production in North America's biggest oil field. Stephen Beard explains.