President Obama tries to take charge of the BP spill
This Week in the BP Spill
President Obama will be angry and outraged on Tuesday night when he gives an Oval Office speech to the nation about the Gulf oil spill.
Another thing BP is leaking: cash. A group of Democratic senators wants BP to establish a $20 billion escrow fund to pay for the spill cleanup and to compensate victimes. They want an answer by Friday.
Finally, BP Chief Executive Tony Hayward will testify about the Deepwater Horizon drilling rig explosion and the Gulf oil leak before an Energy and Commerce subcommittee on Thursday.
Business Leaders Push Obama for More Energy Spending
Something in Washington that isn’t BP related: Bill Gates, GE’s Jeff Immelt, Kleiner Perkins Caufied & Byers’ John Doerr and other members of the American Energy Innovation Council will meet President Obama on Thursday to push for a tripling of energy research spending.
Actually, the BP spill will probably come up.
Goldwind IPO Shelved
China’s Xinjiang Goldwind Science & Technology Co. won’t be pursuing a $1.2 billion IPO after all. This is the fifth IPO that has been pulled from the Hong Kong Stock Exchange in recent weeks, apparently over a drop in China’s markets and the Euro zone debt crisis.
Tomorrow the Senate Subcommittee on Energy will consider six bills including S. 3460, which will require the Department of Energy to provide rebates, loans and other incentives to eligible individuals and companies buying and installing solar energy systems. This could be a first step towards the establishment of a federal renewable standard.
White House photo: Pete Souza