NPR logo

Oil Spill Might Be Shut Off In 'Weeks Rather Than Months'

  • Download
  • <iframe src="https://www.npr.org/player/embed/114650091/126794438" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Oil Spill Might Be Shut Off In 'Weeks Rather Than Months'

America

Oil Spill Might Be Shut Off In 'Weeks Rather Than Months'

Good morning.

While there's talk of possible criminal charges against the companies involved in the massive oil spill in the Gulf of Mexico and as Congressional investigators turn up evidence that faulty equipment contributed to the accident, there's this welcome headline from The New York Times:

"BP Says Leak May Be Closer to a Solution."

According to the Times:

"After days of deepening gloom, BP and two Obama administration officials suggested on Wednesday that the company was closer to a solution that might halt the seemingly uncontrollable oil spill in the Gulf of Mexico. ... A BP official said equipment was being put in place on the seabed for three intervention options that potentially could stop the spill within weeks rather than months."

Also, the Houston Chronicle writes that "BP added another untested tool to its arsenal of spill containment options on Wednesday, a tube that engineers hope to slip into a break in a leaking pipe to intercept some of the 5,000 barrels of oil spilling into the Gulf of Mexico each day."

Other stories making headlines this morning include:

The New York Times — "Prosecutors Ask If 8 Banks Duped Rating Agencies": "The New York attorney general has started an investigation of eight banks to determine whether they provided misleading information to rating agencies in order to inflate the grades of certain mortgage securities, according to two people with knowledge of the investigation." The eight are "Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Credit Agricole and Merrill Lynch, which is now owned by Bank of America."

Article continues after sponsorship

Related story by Bloomberg News — "U.S. Prosecutors, SEC Probe Mortgage Deals, WSJ Says": "U.S. prosecutors and the Securities and Exchange Commission are cooperating in a preliminary criminal probe into whether banks misled investors about their participation in mortgage-bond deals, The Wall Street Journal said, citing a person familiar with the matter. JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Citigroup Inc. have received civil subpoenas from the SEC, the newspaper said today. Goldman Sachs Group Inc. and Morgan Stanley are already being investigated under similar preliminary criminal scrutiny, the Journal said."

— BBC News — New Government Gets To Work: "David Cameron's cabinet got 'straight down to business' at their first meeting, as the prime minister finalizes his coalition government. Universities Minister David Willetts said they wasted no time, while Education Secretary Michael Gove said there was a 'sense of common purpose'. Issues discussed on Thursday morning included the economy and Afghanistan."

Related story on Morning Edition — Improving The Economy Is A Top Priority. NPR's Rob Gifford reported from London:

Oil Spill Might Be Shut Off In 'Weeks Rather Than Months'

  • Download
  • <iframe src="https://www.npr.org/player/embed/114650091/126794439" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

— NPR News — Neil Armstrong Goes To Capitol Hill To Criticize Obama's Space Plan: Following up on his rare public statement last month expressing his opposition to the Obama administration's plans to scale back manned space flight, first-man-on-the-moon Neil Armstrong yesterday told the Senate about his concerns. "If the leadership we have acquired through our investment is simply allowed to fade away, other nations will surely step in where we have faltered," said the Apollo 11 commander. "I do not believe that this would be in our best interests."

Related report from NPR's Nell Greenfieldboyce — Armstrong Is Skeptical Of Plan To Rely On "Space Taxis":

Oil Spill Might Be Shut Off In 'Weeks Rather Than Months'

  • Download
  • <iframe src="https://www.npr.org/player/embed/114650091/126794438" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

— The Associated Press — Boy Who Survived Crash In Libya Is Doing Well: From Tripoli, the AP reports that "the Dutch boy who survived a plane crash that killed 103 people in the Libyan capital is doing well after surgery on his shattered legs, doctors said Thursday as details of the child's identity emerged."