Gulf Of Mexico, Bp Oil Spill Hearing | featured news

The BP oil rig explosion and spill wasn't about anyone purposely trading money for safety, investigators on a special presidential commission said Monday.

Halliburton and BP knew weeks before the blast on a rig in the Gulf of Mexico that the cement mixture they planned to use to seal the well was unstable, a commission found.

Executives from other major oil companies turned on BP Plc and defended their own drilling practices during a congressional hearing on Tuesday as they sought to stave off new government regulations in the wake of BP's oil spill in the Gulf of Mexico.

President Barack Obama will meet with the leaders of a panel he created to probe the worst oil spill in U.S. history on Tuesday, as a giant slick from BP's blown-out Gulf of Mexico well poses a new threat to the coasts of Mississippi and Alabama.