AP-APTN-2330: US Oil 2 Thursday, 17 June 2010 STORY:US Oil 2- WRAP Congress hearing into Gulf oil spill; BP CEO, briefing LENGTH: 03:21 FIRST RUN: 2030 RESTRICTIONS: AP Clients Only TYPE: English/Nat SOURCE: AP TELEVISION/POOL/BP Handout STORY NUMBER: 648778 DATELINE: Washington DC, 17 June 2010 LENGTH: 03:21 AP TELEVISION - AP CLIENTS ONLY POOL - AP CLIENTS ONLY BP HANDOUT - AP CLIENTS ONLY SHOTLIST (FIRST RUN 1630 EUROPE PRIME NEWS - 17 JUNE 2010) POOL - AP CLIENTS ONLY Washington, DC 1. Various, BP Chief Executive Tony Hayward swearing an oath before the committee 2. Various, woman identified as Diane Wilson interrupting Hayward, being restrained 3. UPSOUND: (English) Diane Wilson, protester: "You need to charged with a crime. You need to go to jail about (unintelligible) ... You need to be charged with a crime." 4. SOUNDBITE: (English) Tony Hayward, BP CEO: ++Soundbite starts on back view of Hayward testifying++ "The explosion and fire aboard the Deepwater Horizon and the resulting oil spill in the Gulf of Mexico never should have happened and I am deeply sorry that it did. " 5. Back view of Hayward testifying 6. SOUNDBITE: (English) Bart Stupak, Democrat representative from Michigan, the panel's chairman: ++Includes cutaway of Hayward listening++ "Mr Hayward, you owe it to all Americans. We are not small people, but we wish to get our lives back. For the Americans who live and work on the Gulf coast it may be years before they get their lives back. For the Americans who lost their lives on the rigs, their families may never get their lives back." 7. Mid shot of hearing ++NEW (FIRST RUN 2030 LATAM PRIME NEWS - 17 JUNE 2010) POOL - AP CLIENTS ONLY Washington, DC 8. SOUNDBITE: (English) Tony Hayward, BP CEO: ++Soundbite starts on Congressman Henry Waxman listening:++ "I'm not prepared to draw conclusions about this accident until such time as the investigation is concluded." 9. SOUNDBITE: (English) Henry Waxman, Democrat representative for California: "Are you failing to cooperate with other investigators as well? Because they are going to have a hard time reaching conclusions if you stonewall them, which is what we seem to be getting today." 10. SOUNDBITE: (English) Tony Hayward, BP CEO: "I'm not stonewalling. I simply was not involved in the decision making process." 11. SOUNDBITE: (English) Henry Waxman, Democrat representative for California: "What is your conclusion?" 12. SOUNDBITE: (English) Tony Hayward, BP CEO: "I haven't drawn a conclusion, Mr Chairman." 13. SOUNDBITE: (English) Henry Waxman, Democrat representative for California: "I see. My time has expired and I'm just amazed at this testimony Mr Hayward. You are not taking responsibility, you're kicking the can down the road and acting as if you have nothing to do with this company and nothing to do with the decisions." 14. SOUNDBITE: (English) Steve Scalise, Republican representative - Louisiana: "This shouldn't be happening (holding up a photograph of a pelican covered in oil). We put plans in place to stop this from happening and our plans are not being approved. Now I would love it if our plans were being rejected because there were better alternatives that were being offered by somebody that were being approved - but there are no other alternatives." 15. Pull out of Congressmen 16. SOUNDBITE: (English) Joe Barton, Republican Representative - Texas: "But, I am ashamed of what happened in the White House yesterday. I think it is a tragedy of the first proportion that a private corporation can be subjected to what I would characterise as a shakedown." 17. SOUNDBITE: (English) Bruce Braley, Democrat representative - Iowa: "Did you consider that to be a slush fund?" 18. SOUNDBITE: (English) Tony Hayward, BP CEO: "As I said in my testimony, I hope people will now see that we are good for our word." 19. SOUNDBITE: (English) Bruce Braley, Democrat representative - Iowa: "And can we take that as a no in response to my question, sir, that you did not consider this to be a slush fund?" 20. SOUNDBITE: (English) Tony Hayward, BP CEO: "I certainly didn't think it was a slush fund." ++NEW (FIRST RUN 2030 LATAM PRIME NEWS - 17 JUNE 2010) AP TELEVISION - AP CLIENTS ONLY Washington, DC 21. SOUNDBITE: (English) Joseph Biden, US Vice President: "There is no shakedown; it's insisting on responsible conduct and a responsible response to something they caused. And I find it outrageous to suggest that if in fact we insisted that BP demonstrate their preparedness to put aside (b) billions of (US) dollars; in this case 20 (b) billion (US dollars) to take care of the immediate needs of people who are drowning." ++NEW (FIRST RUN 2030 LATAM PRIME NEWS - 17 JUNE 2010) BP HANDOUT - AP CLIENTS ONLY Gulf of Mexico 22. Underwater shot of oil spill STORYLINE: American Members of Congress channelled the nation's anger over the oil spill calamity at the boss of the company that caused it, subjecting BP chief executive Tony Hayward to a withering day of judgment on Thursday. The stoic oil man said he was out of the loop on all decisions at the well and coolly asserted, "I'm not stonewalling." That infuriated members of Congress even more, Democrats and Republicans alike. The pillorying had been anticipated for days and unfolded at a nearly relentless pace. Chastened by heavy criticism from American lawmakers, a grim-faced Hayward said on Thursday he was "deeply sorry" for his company's catastrophic oil spill in the Gulf of Mexico. More than eight weeks after the spill began and a day after BP agreed to a 20 (b) billion US dollar victims' compensation fund, Hayward said under oath to lawmakers that he was "personally devastated" by the April explosion of the Deepwater Horizon oil rig that triggered the giant spill. As Hayward began to testify, a woman protester disrupted the hearing and had to be forcibly removed from the room by Capitol police. The woman, identified as Diane Wilson, shouted to Hayward from the back of the room: "You need to be charged with a crime." A group of protesters milled in the hallway outside the hearing room, including Wilson, a 61-year-old fourth-generation fisher from Seadrift, Texas, near the Gulf Coast. Wilson, appearing with a black-stained hand, said she wanted to send a message that Hayward should go to jail. She was grabbed by Capitol police and taken from the room. "The fire and explosion on the Deepwater Horizon never should have happened and I'm deeply sorry that it did," Hayward told the panel. And, while "we need to know what went wrong" Hayward also said that it was still too early to say what caused the incident. But before testifying, Hayward had to endure more than an hour of mostly unrelenting criticism from Democrats and Republicans alike. The panel's chairman Democratic Congressman Bart Stupak told Hayward, "We are not small people, but we wish to get our lives back." Stupak was throwing back at the oil giant comments made the day before by BP Chairman Carl-Henric Svanberg - about how BP sympathised with the "small people" of the Gulf - and Hayward's earlier remark that he wanted his "life back." With multiple investigations continuing and primary efforts focused on stopping the leak, there was little chance the nation would learn much from Hayward's appearance about what caused the disaster. Yet even those modest expectations were not met as the CEO told lawmakers at every turn that he was not tuned in to operations at the well. He said his underlings made the decisions and federal regulators were responsible for vetting them. Hayward spoke slowly and calmly in his clipped British accent as he sought to deflect accusations - based on internal BP documents obtained by congressional investigators - that BP chose a particular well design that was riskier but cheaper by at least 7 (m) million US dollars. At one point a frustrated California Representative, Henry Waxman, Democratic chairman of the House Energy and Commerce Committee, interrupted the CEO. "You are not taking responsibility, you're kicking the can down the road and acting as if you have nothing to do with this company and nothing to do with the decisions." Hayward calmly insisted: "I'm not stonewalling. I simply was not involved in the decision-making process." Louisiana Republican Steve Scalise, expressing the frustration felt along the Gulf Coast, demanded Hayward's assistance in getting more relief to stopping the oil from coming ashore. In a jarring departure that caught fellow Republicans by surprise, Congressman Joe Barton, the top Republican on the panel, used his opening statement to apologise - twice - to BP for the pressure put on the company by President Barack Obama to contribute to a compensation fund for people in the afflicted Gulf of Mexico states. Barton called the 20 (b) billion US dollar fund that BP agreed to Wednesday a "shakedown" and "slush fund." He later backed off, saying BP should "do everything possible to make good on the consequences" and apologised in the event his earlier apologies were misconstrued. Barton's received at least 100,470 US dollars in political contributions from oil and gas interests since the beginning of 2009, the second-highest amount among all the committee members. Iowan Democrat Bruce Braley sought Hayward's opinion on the "shakedown." In response, Hayward admitted that he didn't think the amount set aside after meetings at the White House Wednesday was a "slush fund." Vice President Joe Biden later called the shakedown comment "outrageous." "There is no shakedown; it's insisting on responsible conduct and a responsible response to something they caused." As of Thursday morning, the BP well has gushed as many as 118 million gallons (447 million litres) of oil into the Gulf of Mexico. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. APTN APEX 06-17-10 1933EDT

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Congressional hearings on the Enron scandal continue. (Imagery taken from 1300-1330 eastern)

CLOSE ANGLE, PAN RIGHT TO LEFT OF GOVERNMENT OFFICIALS SEATED AT CONFERENCE TABLE. COULD BE MEDICAL REVIEW BOARD, POLICE COMMISSION, ANY PUBLIC OFFICIALS.

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NAME: US OIL PROFITS 091105N TAPE: EF05/0995 IN_TIME: 11:12:18:19 DURATION: 00:03:50:04 SOURCES: APTN/POOL/VNR DATELINE: Various - 9 Nov 2005/File RESTRICTIONS: SHOTLIST POOL Washington DC - 9 November 2005 1. Oil executives seated at table 2. Senators seated on panel 3. SOUNDBITE (English) Senator Pete Domenici (R- New Mexico): "Most Americans in most of the polls show, that our people have a growing suspicion that the oil companies are taking unfair advantage of the current market conditions to line their coffers with excess profits." 4. Exxon and Chevron executives listening 5. SOUNDBITE (English) Senator Pete Domenici (R- New Mexico): "The oil company witnesses owe company an explanation and they owe it to us as those who represent the people. I expect the witnesses to answer whether you think your current profits are excessive?" 6. Conoco Phillips and BP America executives listening 7. Pan of oil executives 8. SOUNDBITE (English) Lee Raymond, Chairman and CEO, Exxon Mobil Corporation: "The increases in energy prices following Hurricanes Katrina and Rita have put a strain on American household budgets. We recognise that." 9. Senator Byron Dorgan listening and taking notes 10. SOUNDBITE (English) Lee Raymond, Chairman and CEO, Exxon Mobil Corporation: "First, given the scale and the long term nature of the energy industry there are no quick fixes and there are no short term solutions. Second, petroleum company earnings go up and down since prices for the openly and globally traded commodities in which we deal are volatile." 11. Senators Lott and Hutchison listening 12. Wide of hearing 13. SOUNDBITE (English) David O'Reilly, Chairman of Chevron: "Price volatility was also driven by localised panic buying which led to temporary shortages of gasoline and as we began to normalise in the days and weeks that followed, prices began to moderate. But the more important issue is that we've been operating in a tighter supply situation for some time now." 14. O'Reilly speaking 15. SOUNDBITE (English) John Hofmeister, President of Shell Oil Company: "And yes, industry profits are large in total dollars. But they represent an average return on sales in cross-industry comparisons." 16. Senators listening 17. SOUNDBITE (English) Senator Barbara Boxer (D- California): "Mr Chairman, today's hearing in the mind of most of my constituents is about shared sacrifices and tough times versus big oil company greed. And gentlemen, to all of you, I hope I can give you a bit of reality check. Working people struggle with high gas prices and your sacrifices , gentlemen, appears to be nothing." 18. Boxer aide holding up chart comparing Oil exec bonuses to typical American salaries FILE - APTN Miami, Florida - 26 October, 2005 19. Various of people in line for fuel FILE - Washington DC - 27 October, 2005 20. Man pumping fuel 21. Fuel prices while man pumps 22. Sign of fuel prices FILE -EXXON MOBIL VNR Location Unknown 23. Various of Exxon Mobil Operations FILE - APTN Gulf of Mexico- October 2005 24. Various aerial of oil refineries and storage facilities flooded by hurricanes STORYLINE: The chiefs of five major oil companies defended the industry's huge profits Wednesday at a US Senate hearing where lawmakers said they should explain prices and assure people they're not being gouged. There is a "growing suspicion that oil companies are taking unfair advantage," Senator Pete Domenici said as the hearing opened in a packed Senate committee room. "The oil companies owe the country an explanation," he said. Lee Raymond, chairman of Exxon Mobil Corp., said he recognises that high gasoline prices "have put a strain on Americans' household budgets" but he defended his companies huge profits, saying petroleum earnings "go up and down" from year to year. ExxonMobil, the worlds' largest privately owned oil company, earned nearly 10 billion (b) US dollars in the third quarter. Raymond was joined at the witness table by the chief executives of Chevron, ConocoPhillips, BPAmerica and Shell Oil USA.` Together the companies earned more than 25 billion (b) US dollars in profits in the July-September (2005) quarter as the price of crude oil hit $70 a barrel and gasoline surged to record levels after the disruptions of Hurricanes Katrina and Rita. John Hofmeister, president of Shell Oil Company said the profits are in line with other industries when profits are compared to the industry's enormous revenues. Democrats had wanted the executives to testify under oath, but Republicans rejected the idea. A number of Democrats, joined by a few Republicans, have called for a windfall profits tax on oil companies. The executives hoped to dampen any further momentum for calls for taxing windfall oil company profits, something still viewed as a longshot but also no longer out of the question. Such a tax could inhibit investment in refineries or oil exploration and production, the industry argues. David O'Reilly, chairman of Chevron, attributed the high energy prices to tight supplies even before the Gulf hurricanes hit and said his company is "investing aggressively in the development of new energy supplies." The oil industry's record third-quarter profits - at a time when motorists were reeling from unprecedentedly high gasoline costs and warned of huge heating bills this winter - have caught the attention of both Republicans and Democrats in Congress. Senator Barbara Boxer of California put up a chart showing the annual salaries and bonuses of the oil executives, comparing them to the average income of an American taxpayer. She urged the men to use some of their income to fund charities helping people with their high heating bills this winter. Some analysts predict the 29 largest oil companies will earn 96 billion (b) US dollars this year. The industry argues that the run-up of gasoline prices, which began earlier in the year, stems from high global crude oil costs and growing demand for gasoline this past summer, followed by a disruption of gasoline supplies when the hurricanes shut down more than a dozen refineries on the Gulf Coast. Prices since have retreated from more than 3 US dollars a gallon to an average nationwide last week of 2.37 dollars, according to the Energy Department.

oil disaster House Natural Resources Committee hearing with Lamar Mckay, Chairman & President of BP America, Steven Newman, President & CEO of transocean, Jack Gerard, president & CEO of the American petroleum institute, & others 13:02:29 mcKAY we've been clear we're not going to recognize cap. 13:02:44 McKAY not going to exercise reimbursement for trust fund *blowout preventer examination?* 13:04:13 NEWMAN once well is permanently capped, we will recover BOP and conduct evaluation 13:04:55 DefAZIO questions *witnesses testify? Undisclosed illness?* 13:06:16 McKAY I do not know state of medical condition *dispersants* 13:08:24 DeFAZIO response letter non-responsive and insulting *COREXIT* *is your company going to honestly respond to EPA?* 13:10:05 McKAY as I understand it, corexit has been most available, most effective, least toxic of dispersants 13:10:24 DeFAZIO CORRECTS McKAY 13:10:52 McKAY there are ingredients we have concerns about 13:11:02 McKAY we will not do anything anything the EPA tells us not to do 13:11:20 McKAY we did commit and we look at every dispersant we can find. We have committed to that. We will do that. 13:12:15 HOLT questions *should liability be raised?* 13:14:08 McKAY we are ignoring and taking that cap away. 13:14:20 NEWMAN public policy congress should weigh, would hope congress considers commercial consideration of smaller operators *why the delay?* 13:17:13 McKAY we had piece of equipment that failed 13:17:31 McKAY I don't think configuration could have been predicted 13:17:50 McKAY subsea intervention has to be approved 13:18:06 BORDALLO questions *BP operating faster than implied to MMS?* 13:19:05 McKAY procedure was being followed, well control event occurred and stopped procedure 13:20:23 McKAY I believe procedure met MMS requirements 13:23:21 MILLER questions 13:24:01 COSTA questions *enough time to prevent explosion?* 13:24:44 McKAY there was a well control event and it could have been caught 13:27:08 anyone on rig - if they were concerned - could have asked to have shut down *how are you going to restore faith of being safe?* 13:29:28 MckAY stop it. Clean it up. Must know what happened, the facts of what happened 13:29:53 NEWMAN we will do everything to understand what happened, do everything to make sure it never happens again 13:30:11 SHEA-PORTER questions 13:31:57 McKAY cement bond log was not run on this well, that's right 13:32:45 there were 6 centralizers rather than 21, I don't know the logic of that *international help* 13:34:30 McKAY we are using every good idea we can find *has your company turned down offers?* 13:35:14 McKAY I don't know if we've turned offers down for cost or from countries 13:35:30 CHRISTENSEN questions *training workers?* 13:36:41 McKAY getting assistance from OSHA 13:36:54 McKAY there are instances 13:37:01 we have had instances where people have gotten sick. What we are trying to do is make sure we don't put anybody in that situation 13:37:21 McKAY no one can touch a tarball unless they're trained. It's not perfect. 13:37:53 McKAY OPA '90 provides for personal care to be taken care of *Transocean liable?* 13:38:37 NEWMAN we will satisfy all of our legal obligations *other oil companies assisting?* 13:39:10 McKAY this is an industry effort now 13:39:23 McKAY competitors are working with us 13:40:45 KIND questions 13:41:26 KIND I am less than impressed with your testimony *lack of info* 13:42:44 KIND spoken with anyone about fight on rig? 13:42:46 McKAY no I have not. 13:43:12 KIND I think your companies are hanging by a thread. 13:43:43 KIND I think BP went cheap on the casings that was used.they bypassed basic safety procedures.because you're being charged 500,000 dollars a day by transocean *why BP let employees leave without conducting special test on cement bond?* 13:45:01 McKAY I don't know why, but that decision was made 13:47:25 DeGETTE questions *cement bond log?* 13:48:39 McKAY the whole operation concerns me 13:48:47 McKAY the cement operation? Yes. 13:49:45 McKAY looked like effective cement job 13:52:16 CAPPS questions *should fed govt raise safety standards for offshore operators?* 13:52:58 McKAY I believe they should be, yes *in September, BP opposed proposed rule: too expense & extensive* *BP profits?* 13:56:15 McKAY I don't know exact number. I think 16 billion 13:57:03 GOHMERT questions *mitigation plan?* 13:58:15 McKAY a first step was marine deployment *MMS visit?*

CLOSE ANGLE, PAN RIGHT TO LEFT OF GOVERNMENT OFFICIALS SEATED AT CONFERENCE TABLE. COULD BE MEDICAL REVIEW BOARD, POLICE COMMISSION, ANY PUBLIC OFFICIALS.

NAME: US OIL 20080623Ix TAPE: EF08/0650 IN_TIME: 10:26:46:02 DURATION: 00:03:09:09 SOURCES: AP TELEVISION/PETROLEUM INSTITUTE DATELINE: New York - 23 June 2008/ File RESTRICTIONS: SHOTLIST: AP Television New York - 16 June, 2008 1. Interior New York Mercantile Exchange (NYMEX) 2. Traders on floor of NYMEX AP Television New York - 23 June 2008 3. SOUNDBITE (English) Anthony Grisanti, GRZ Trading: "We expected them (Saudi Arabia) to commit, really truly commit, to an increase in production and they didn't really do that. I mean, they didn't want to get pinned down on anything and so they said, 'We will increase it if the conditions kind of deserve it.' And, you know, I think if you ask most people around the world, the conditions do deserve it. But they haven't committed to anything so I think most traders looked at that as pretty much as a non-issue coming out of that meeting and you know the buyers came in, right back in again." American Petroleum Institute FILE: Exact location unknown - June, 2001 4. Aerial shot oil tanker 5. Aerial shot oil platform AP Television New York - 23 June 2008 6. SOUNDBITE (English) Anthony Grisanti, GRZ Trading: "You know, this has been going on for a couple of years and it didn't matter at one point, only because there was other oil in the world to make it up, but now there really isn't any more oil to make up any short-falls, so this is why news like this kind of spikes the market." AP Television New York - 16 June, 2008 7. Traders on NYMEX floor AP Television New York - 23 June 2008 8. SOUNDBITE (English) Anthony Grisanti, GRZ Trading: "I'm not necessarily in the camp of that speculation is the reason why oil is trading 135 dollars a barrel. It's because it's being used is the reason why it's trading at 135 dollars a barrel. It's also because the dollar's where it is. I mean, in 2000, where was the dollar versus the euro? I think it was about a dollar, it was one-to-one, kind of a flat thing. Now it's, the Euro's at 1.50 dollars, so that's not helped the price of oil at all. No, I'm not in the camp that speculation has caused it." AP Television FILE: Washington DC - Exact date unknown 9. Wide US Capitol AP Television Washington DC - 23 June 2008 10. Senate hearing room 11. SOUNDBITE (English) Joe Barton, Congressman: "Speculators are not the cause of high energy prices. We have high energy prices because there's less than a one or two percent margin of supply over demand in world markets today. When you have that tight of a supply margin, a surplus reserve margin, you create a situation where speculators can drive the price higher because of the uncertainty principle concerning who's going to get that next barrel of oil." 12. Men about to testify at hearing 13. SOUNDBITE (English) Fadel Ghelt, Managing Director and Senior Oil Analyst, Oppenheimer and Company: "Oil prices are inflated. They are not supported by market fundamentals. And the reason I base my conclusion are extremely high is that, I've been in this business almost 30 years. I talk regularly to the CEOs of oil companies, from the largest of them all to the very small, independent, oil and gas companies. They all come to the same conclusion: that oil prices do not reflect market fundamentals. In my view we can produce oil profitably at less than half the current price levels." 14. Senate hearing room STORYLINE: Oil prices rose on Monday due to disappointment over Saudi Arabia's modest production increase and concerns that output from Nigeria will decline. Light, sweet crude for August delivery has gained 1.38 US dollars to settle at 136.74 US dollars a barrel Monday on the New York Mercantile Exchange, while in Washington, DC, lawmakers blamed the endless rise in oil prices on speculators. On Sunday, Saudi authorities attending a meeting of oil producing and consuming nations in the Saudi city of Jeddah said they would increase production, but not by much. The kingdom said it would add 200-thousand barrels per day in July to a 300-thousand barrel per day production increase it first announced in May, raising total daily output to 9.7 (m) million barrels. The increase fell far short of US hopes for a larger increase. The United States and other nations argue that oil production has not kept up with increasing demand, especially from China, India and the Middle East. Saudi Arabia and other Organisation of Petroleum Exporting Countries (OPEC) say there is no shortage of oil and instead blame financial speculation and the falling US Dollar. Anthony Grisanti, a trader on the New York Mercantile Exchange, said the news out of Saudi Arabia did not do much to stop oil's climb. "We expected them to commit, really truly commit, to an increase in production and they didn't really do that," Grisanti said. Concerns about Nigerian production also boosted prices on Monday. Royal Dutch Shell PLC said it cannot meet contractual obligations to export oil from a Nigerian oil field following a militant attack last Thursday, and news reports say Chevron Corp has been forced to shut down a Nigerian oil facility following a militant attack. Those production outages appeared to overshadow Sunday's ceasefire declaration by the Movement for the Emancipation of the Niger Delta, or MEND, the main militant group in Africa's largest oil producing nation. Attacks by MEND have sliced about one quarter from Nigeria's normal oil daily oil output, helping buoy crude prices in international markets. Despite the ceasefire, investors are not convinced that lost Nigerian oil production will resume any time soon, analysts say. Grisanti said trouble in Nigeria didn't cause much of a ripple in the price of oil a couple of years ago. "This has been going on for a couple of years and it didn't matter at one point, only because there was other oil in the world to make it up, but now there really isn't any more oil to make up any short-falls, so this is why news like this kind of spikes the market," he said. Many analysts have blamed the rise in oil prices on speculators. Speculators have increased their share of oil futures contracts on the New York Mercantile Exchange to 71 percent this year, up from 37 percent in 2000, according to figures released by the office of, Representative Bart Stupak, the chair of a House Energy and Commerce subcommittee. At the same time contracts held by traditional oil users have fallen to less than 30 percent from over 60 percent. In Washington on Monday, Stupak led a hearing to consider whether or not the government should regulate oil futures trading and several speakers blamed the precipitous hikes on speculation. However, Representative Joe Barton, a Republican from Texas, disagreed. "We have high energy prices because there's less than a one or two percent margin of supply over demand in world markets today," Barton said. The Texas lawmaker called for increased domestic production of oil, natural gas and coal. But Oppenheimer oil analyst Fadel Gheit disagreed, and said oil prices were not supported by market fundamentals. "In my view we can produce oil profitably at less than half the current price levels," Gheit said. Pension funds, Wall Street banks and other large investors that have no intention of taking delivery of fuel have increasingly pumped money into contracts for oil and other commodities as a hedge against inflation when the dollar falls. After more than a half dozen hearings in Congress on the issue, Democratic House lawmakers said they intend to tighten restrictions on pension funds, investment banks and other large investors which they blame for driving up fuel prices. Many Republicans, analysts and regulators, however, say soaring oil prices are a reflection of macro-economic factors, including the falling dollar, unrest in the Middle East and increased demand from countries like China and India. There are currently nine bills in Congress which attempt to control speculation on oil prices and futures. Only one of them is co-sponsored by a Republican.

HD1080p: Senior businessman leading business discussions and negotiations with business partners and shareholders in the board room

AP-APTN-2230: ++US MF Global Thursday, 8 December 2011 STORY:++US MF Global- NEW Corzine denies knowledge of where missing $1.2bn is LENGTH: 02:49 FIRST RUN: 2230 RESTRICTIONS: AP Clients Only TYPE: English/Nat SOURCE: AP TELEVISION/POOL STORY NUMBER: 718189 DATELINE: Various- 8 Dec 2011 LENGTH: 02:49 POOL/AP TELEVISION - AP CLIENTS ONLY SHOTLIST POOL - AP CLIENTS ONLY Washington, DC 1. Various of John Corzine, former U.S. Senator and CEO of MF Global, standing before House Agriculture Committee raising his right hand to take oath 2. Corzine sitting at table 43 SOUNDBITE: (English) John Corzine, Former US Senator and CEO of MF Global "Like all of you, I am devastated by the enormous impact on many people's lives resulting from the events surrounding the MF Global bankruptcy. Of course, my distress and sadness pale in comparison to the losses and hardships that customers, farmers and ranchers and others, employees and investors have suffered. Their plight weighs on my mind every day. As the Chief Executive Officer of MF Global at the time of its bankruptcy, I truly apologise to all those affected." 4. Wide shot from behind Corzine of committee room while he testifies 5. SOUNDBITE: (English) John Corzine, Former US Senator and CEO of MF Global "I was stunned when I was told on Sunday, October 30, 2011 that MF Global could not account for many hundreds of (m) millions of dollars of client money. I remain deeply concerned about the impact that the unreconciled and frozen funds have on MF Global's customers and others. I simply do not know where the money is or why the accounts have not been reconciled to date." AP TELEVISION - AP CLIENTS ONLY New York, New York 6. Various of Robert Heim , former SEC (Securities and Exchange Commission) Enforcement Attorney, sitting at table reading through book 7. SOUNDBITE: (English) Robert Heim, Former SEC (Securities and Exchange Commission) Enforcement Attorney "Corzine could say the the money was invested appropriately, but it still doesn't get him to the point where he can explain why the money was commingled with the firm's money. The fundamental failing of MF Global was that client's money was commingled with MF Global's money and regardless of how the money was invested it was a fundamental violation of industry rules to commingled the investor money with the firm's money." POOL - AP CLIENTS ONLY Washington, DC 9. Corzine sitting at witness table in hearing room AP TELEVISION - AP CLIENTS ONLY New York, New York 10. SOUNDBITE: (English) Robert Heim, Former SEC (Securities and Exchange Commission) Enforcement Attorney "The MF Global situation is unique. It is stunning actually as a former regulator, the firms like MF Global have a very high responsibility to safeguard customer funds, those monies are supposed to be kept separate from the firm's business. It is one of the most fundamental regulatory rules that operate in this business and for a financial institution like MF Global to apparently have violated that rule is really stunning. What comes out of that will be perhaps new rules by the CFTC (Commodity Futures Trading Commission) and SEC to help safeguard customer funds, but I think some sort of charges, whether they are civil enforcement charges or criminal charges are going to be very likely in this case." POOL - AP CLIENTS ONLY Washington, DC 11. Corzine sitting at witness table as hearing wraps up STORYLINE: Former MF Global chief and US Senator Jon Corzine told a congressional panel on Thursday in Washington DC that he never intended to break rules requiring the failed securities firm to safeguard client funds. He also said he doesn't know what happened to an estimated 1.2 (b) billion US dollars that went missing. Corzine testified before the House Agriculture Committee about the firm's bankruptcy on October 31, which followed disastrous bets on European debt that were made while Corzine was CEO. Corzine said he accepts responsibility for the firm's risky bets and said its customers' losses weigh on his mind "every day, every hour." "Like all of you, I am devastated by the enormous impact on many people's lives resulting from the events surrounding the MF Global bankruptcy. Of course, my distress and sadness pale in comparison to the losses and hardships that customers, farmers and ranchers and others, employees and investors have suffered. Their plight weighs on my mind every day," he told the panel. The former US senator was subpoenaed to explain how MF Global, which he led for about 20 months, collapsed into the eighth-largest bankruptcy in US history and why client funds remain unaccounted for. Corzine resigned as CEO on November 3 and hasn't spoken publicly since. He apologised to all to "all those affected" by MF Global's failure. And he insisted he does not know where the hundreds of millions of lost client dollars went. "I simply do not know where the money is, or why the accounts have not been reconciled to date," Corzine said. He says he can't say whether there were "operational errors" at MF Global or whether other companies have held onto money that should be returned to MF Global. Corzine defended his tenure at the firm. He said MF Global toppled, in part, because of a large quarterly loss caused by his predecessors' accounting moves. Rating agencies responded to the loss by downgrading the firm's credit rating, which panicked investors and trading partners. He said he made the high-stakes bets only after discussions with company executives who traded European debt long before he arrived. And he said that he reduced MF Global's investment risks by some measures. Lawmakers in both parties have a lot to ask Corzine. Some have heard from farmers, ranchers and small business owners in their districts who are missing money deposited with the firm. Agricultural businesses use brokerage firms to help reduce their risks in an industry vulnerable to swings in oil, corn and other commodity prices. But MF Global increased risks by making big bets on European government debt - bets that proved disastrous. Corzine disputed media reports that he personally pushed the company to make big, doomed bets on risky European debt using too much borrowed money. He insisted the company's revenue was "drying up" when he arrived because of competition from online and high-tech brokerages. Still, legal experts say Corzine could be held personally liable for the missing funds. "Corzine could say the the money was invested appropriately but it still doesn't get him to the point where he can explain why the money was commingled with the firm's money," said Robert Heim, a former prosecuting attorney for the US Securities and Exchange Commission. "The fundamental failing of MF Global was that client's money was commingled with MF Global's money and regardless of how the money was invested it was a fundamental violation of industry rules to commingled." This is the first time in more than 100 years that Congress has subpoenaed a former senator to testify. The occasion blends the two worlds Corzine has occupied for his professional life - Wall Street and public office. A Democrat, Corzine represented New Jersey in the Senate from 2001 through 2005. He later served as the state's governor. Before entering politics, he was CEO of Goldman Sachs from 1994 to 1999. Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: infoaparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, privacy, compliance and third party rights applicable to their Territory. AP'S HIGH DEFINITION ROLLOUT TIMETABLE All Customers This message is for ALL Associated Press (AP) customers to inform you of the upcoming changes to our service and how they will affect your organization. The timeline AP will be rolling out High Definition (HD) in phases, beginning with Entertainment from 11 November 2011, followed by Sports News Television (SNTV) in January 2012. The completion date for all News services will be Q2 2012 in time for the 2012 London Olympics in July and the US presidential elections in November. What does this mean for you? The HD upgrade will affect ALL customers. Changes to Delivery If you want to upgrade to HD, you will need to make changes to your hardware equipment - either by adopting Media Port or you may need to upgrade your current Media Port server. AP Direct will also be transitioned to an encrypted HD ONLY delivery and customers will need to provide their own HD compatible Integrated Receiver Decoder (IRD). This will need to be operational by 1 February 2012. Satellite Upgrades We are upgrading our satellite network. This upgrade will affect ALL AP customers. For a full overview of changes to delivery and satellite upgrades, please visit: www.aphighdefinition.com To retrieve the login, please email: edcustomerliaisonap.org or aptn-webadminap.org ++++ APTN (Copyright 2011 by The Associated Press. All Rights Reserved.) AP-NY-12-08-11 1740EST

Interview with Representative Henry Waxman for a Jonathan Karl GMA / GOOD MORNING AMERICA Spot RS25 / 79 SLUGGED: 1700 WAXMAN INTV RS25 79 DISC # 548 AR: 16X9 17;04;53;02 Well we're going to hear from the Chief Executive Officer of BP. (4) We want to hear from him directly, under oath, before the Congress of the United States (10) 17;05;03;13 In advance of this hearing we sent him a letter outlining five specific instances where BP cut corners. (7) Saving themselves money and time. (10) 17;05;29;19 We're looking forward to hearing from the head of BP himself - the Chief Executive Officer. (7) And in advance of this hearing we sent him a letter outlining five specific instances where BP could have done things that would have minimized the risk of the blowout that we're now paying the price for (20). 17;05;49;04 Five things where BP cut corners instead of doing the things that they should have done, taking the tests that the people in their industry recommended, that their contractors recommended. And that their own internal people suggested that they should do before they proceed with the drilling. (18) 17;06;12;23 It looks like it could have been prevented (3). We asked one of the chief executive officers of another oil company if he thought it could be prevented and said it absolutely was preventable. (11) 17;06;23;13 Another industry spokesman when we showed them the things that BP didn't do, or did incorrectly, they said this was completely preventable and in fact it was gross negligence (11). 17;06;48;29 2-shot 17;06;56;21 Well I think BP has to account for the disaster we're now facing, to the economy of the gulf coast, to the environment and the damage done there, to the lives of the people who were lost in the rig (14) and people who were injured (16). 17;07;12;16 BP has to be held accountable, but more importantly than that, we have to understand how this happened so we make sure it doesn't happen again (8) 17;07;29;29 Well he hasn't answered these questions, that's why we sent them to him in advance. (4) We wanted to prepare him for the questions we wanted answered (8) 17;07;39;05 We've had people testify, CEOs of major corporations where they said how sorry they were. (5) That's not enough. We expect he's sorry, I'm sure he is. (9) 17;07;48;20 But we went through their documents and their emails and found instances where they could have handled it differently (8) And they were being told to handle it differently by so many others, even within BP itself. (17) and yet they cut the corners and took on the extra risk, which turned out to be a very serious mistake. (24) 17;08;23;04 BP never knew how much oil they were spilling into the ocean from the very beginning. And thanks to the work of Congressman Ed Markey we were finally able to recognize that what they claim, which was a very small amount of oil coming out of that leak turned out to be far in excess of what anybody imagined. (20) 17;09;06;18 There's a lot of anger about what's happened in the Gulf (4) and a lot of people hold the man on the top responsible (8). But anger is not a policy. Anger is an emotion. And what we need to do is to be clear and calculated to get the facts. That's our job. (18) 17;09;24;25 And once we get the facts we can see where they lead us. (4) We've got to hold the people accountable responsible, and we've got to correct the policies for the future. (9) 17;09;44;22 Why didn't they take the time to put in the extra equipment to center the well, so there would not have been a problem with the cementing? (8) 17;09;52;28 Why didn't they do a test to be sure that the cementing was already in place? (4) Why didn't they test the blowout preventer before they started the drilling on the well? (8) 17;10;00;25 These are things that other oil companies have told us are standard practice (5) that they would never start drilling without making sure that the construction was done in a way that minimized the risk. (12) 17;10;12;20 Why, why, why? (3) 17;10;33;17 Well it is an emotional issue, the families who have lost their loved ones are feeling that pain and will for the rest of their lives. (8) 17;10;40;29 People have lost their businesses and their economy in their region are suffering. (7) And we don't know all the consequences both to health and to the environment in the Gulf region. (13) 17;10;53;27 It's going to take millions if not billions of dollars to right the situation. (4) 17;11;02;11 We are faced with a situation that had BP done some of the things that they might have done, could have been prevented. (8) And prevention is far better than having to deal with a problem like this. (13) 17;11;15;06 Prevention is far better than having to deal with any disease or any consequence that maybe we didn't have to have to suffer (9) 17;11;25;27 I don't have the answer to that but it seems highly unlikely. (5) 17;11;44;07 This isn't personal to him. (2) And it's, he recognizes and has expressed regrets over and over again about the situation we're facing. (8) We want to get him to directly answer the questions. (14) And I expect him to cooperate, and we'll then have to go on from there and see how we can deal with making this situation better for everybody involved (16) 17;12;21;27 two shot

HD1080p: Bossy senior manager scolding his employees while they are having board meeting.

The Oversight Subcommittee of the House Energy and Commerce committee meets to hear from Tony Hayward, the CEO of BP BP CEO Tony Hayward testifies before the Oversight Subcommittee of House Energy and Commerce - CSPAN SWITCHED (LOGGING SHOTS ONLY) RS26 / 76 SLUGGED: 0945 4X3 SW HAYWARD HRG RS26 76 DISC # 965 AR: 4X3 **** FED TO NY ON RS 5106 **** 09:54:08 Hayward enters room and walks to table 09:54:24 Hayward with back to most press - facing camera 09:54:36 CU Hayward in crowd 09:55:34 wide push - Hayward surrounded by press 09:56:26 Hayward 09:58:08 Waxman talking to Hayward 09:58:36 BP Lies / BP Kills signs in crowd 09:58:54 more anti-BP Signs in crowd 10:01:46 Various Representatives arrive and settle into seats 10:02:03 Stupak arrival and seated 10:02:31 Backshot of Hayward sitting 10:02:50 gavel - 10:02:57 push to stupak 10:03:10 side of Hayward 10:03:36 Stupak calling hearing to order 10:04:58 waxman opening remarks 10:02:03 BART STUPAK: THIS MEETING WILL COME TO 10:03:10 ORDER, WE'RE GOING TO ASK THE PRESS TO PLEASE CLEAR. 10:03:51 THIS HEARING OF THE SUBCOMMITTEE OF THE ENERGY AND 10:03:55 COMMERCE COMMITTEE, THE SUBCOMMITTEE ON OVERSIGHT 10:03:59 INVESTIGATIONS WILL COMMENCE OUR HEARING. 10:04:01 TODAY WE HAVE A HEARING TITLED BP'S ROLE IN THE DEEP WATER 10:04:11 HORIZON ENERGY SPILL. I WELCOME THE MEMBERS OF THE 10:04:16 ENERGY AND COMMERCE COMMITTEE AND THEY WILL BE ALLOWED TO 10:04:21 SUBMIT WRITTEN STATEMENTS FOR THE RECORD, BUT WILL NOT DELIVER 10:04:25 VERBAL OPENING STATEMENTS AND IN ADDITION MEMBERS WHO ARE NOT ON 10:04:34 THE SUBCOMMITTEE OR ON THE ENERGY AND COMMERCE COMMITTEE 10:04:38 ARE WILL BE TO OBSERVE, BUT THEY WILL NOT BE ALLOWED TO ASK 10:04:43 QUESTIONS DUE TO TIME CONSTRAINTS, THE CHAIRMAN, THE 10:04:47 RANKING MEMBER AND THE CHARITY EMERITUS WILL BE RECOGNIZED FOR 10:04:52 THREE MINUTE OPENING STATEMENTS. I WILL YIELD TO THE CHAIRMAN OF 10:05:01 THE FULL COMMITTEE MR. WAXMAN FOR THE FIRST OPENING STATEMENT. 10:05:05 THANK YOU VERY MUCH MR. CHAIRMAN, THANK YOU FOR HOLDING 10:05:09 THIS VERY IMPORTANT HEARING. AND MR. HAYWARD, THANK YOU FOR 10:05:12 BEING HERE TODAY. YESTERDAY BP PLEDGED TO 10:05:15 ESTABLISH A $20 BILLION ESCROW ACCOUNT AND TO SUSPEND ITS 10:05:20 DIVIDEND PAYMENTS FOR THE REST OF THE YEAR. 10:05:23 I'M SURE THESE WERE NOT EASY DECISIONS FOR YOU, BUT THEY WERE 10:05:26 THE RIGHT ONES AND I COMMEND YOU FOR THEM. 10:05:30 CONGRESS HAS MULTIPLE COMMITTEES EXAMINING THE GULF OIL SPILL, 10:05:34 SOME ARE EVALUATING THE IMPACT OF THE SPILL, SOME ARE WORKING 10:05:38 ON THE REORGANIZATION OF THE REGULATORY AGENCIES AND SOME 10:05:42 INCLUDING CHAIRMAN MARKEY'S SUBCOMMITTEE ARE DRAFTING 10:05:46 LEGISLATION TO REFORM OUR OIL EXPLORATION LAWS. 10:05:50 YOU ARE TESTIFYING TODAY BEFORE THE OVERSIGHT AND INVESTIGATION 10:05:55 SUBCOMMITTEE AND THIS SUBCOMMITTEE HAS A SPECIAL ROLE. 10:05:59 SO EXAMINE THE FACTS AND DETERMINE WHAT WENT WRONG AND TO 10:06:02 MAKE RECOMMENDATIONS TO PREVENT FUTURE SPILLS. 10:06:06 WHEN IT'S TIME FOR QUESTIONING, I AND OTHER MEMBERS OF THE 10:06:09 SUBCOMMITTEE WILL ASK YOU ABOUT A SERIES OF INTERNAL BP 10:06:12 DOCUMENTS. THEY APPEAR TO SHOW THAT BP 10:06:18 REPEATEDLY TOOK SHORTCUTS THAT ENDANGERED LIVES AND INCREASED 10:06:22 THE RISKS OF A CATASTROPHIC BLOWOUT. 10:06:26 AND I SENT YOU A LETTER IN ADVANCE INDICATING THAT WE'RE 10:06:29 GOING TO QUESTION YOU ABOUT THOSE ISSUES. 10:06:32 BUT WHAT IS EQUALLY IMPORTANT IS WHAT IS MISSING FROM THE 10:06:34 DOCUMENTS. WHEN YOU BECAME CEO OF BP, YOU 10:06:41 PROMISED TO FOCUS LIKE A LASER ON SAFE AND RELIABLE OPERATIONS. 10:06:45 WE WANTED TO KNOW WHAT YOU HAD DONE TO KEEP THIS PROMISE. 10:06:49 SO WE ASKED WHAT E-MAILS YOU HAD RECEIVED, WHAT DOCUMENTS YOU HAD 10:06:53 REVIEWED. ABOUT THE DEEP WATER HORIZON RIG 10:07:00 OR TO THE McCONDO WELL BEFORE THE BLOWOUT. 10:07:03 DEEP WATER DRILLING IS INHERENTLY DANGEROUS, AS THE 10:07:09 ENTIRE COUNTRY NOW KNOWSES, AN UNCONTROLLED BLOWOUT CAN KILL 10:07:15 RIG WORKERS AND CAUSE AN ENVIRONMENTAL DISASTER. 10:07:18 WE WANT TO KNOW IF YOU WERE BRIEFED BE THE RISKS AND WERE 10:07:22 MONITORING THE SAFETY OF THE DRILLING OPERATION. 10:07:27 WE CAN FIND NO EVIDENCE THAT YOU PAID ANY ATTENTION TO THE 10:07:30 TREMENDOUS RISKS BP WAS TAKING. WE HAVE REVIEWED 30,000 PAGES OF 10:07:38 DOCUMENTS FROM BP INCLUDING YOUR E-MAILS, THERE IS NOT A SINGLE 10:07:44 E-MAIL OR DOCUMENT THAT SHOWS YOU PAID EVEN THE SLIGHTEST 10:07:47 ATTENTION TO THE DANGERS AT THIS WELL. 10:07:49 YOU ARE THE CEO. SO WE CONSIDER THE POSSIBILITY 10:07:51 THAT YOU MAY HAVE DELEGATED THE OVERSIGHT RESPONSIBILITY TO 10:07:59 SOMEONE ELSE WE REVIEWED THE EMAILS AND BELIEVING DOCUMENTS 10:08:04 RECEIVED BY THE CHIEF EXECUTIVE FOR EXPLORATION AND PRODUCTION 10:08:09 AND DOUG SUTTLES, THE CHIEF OPERATING OFFICER FOR 10:08:17 PRODUCTION. ACCORDING TO BP, THESE ARE THE 10:08:25 SENIOR OFFICIALS RESPONSIBLE FOR THE McCONDO WELL, BUT THEY TOO 10:08:31 WERE APPARENTLY BLIVIOUS TO WHAT WAS HAPPENING. 10:08:37 WE CAN SEE NO E-MAILS OR DEBRIEFINGS ABOUT THE DEEP WATER 10:08:44 HORIZON. BP'S CORPORATE COMPLACENCY IS 10:08:50 ASTONISHING, THE DRILLING ENGINE FOR THE RIG, CALLED McCONDO, A 10:08:56 NIGHTMARE WELL. OTHER BP EMPLOYEES PREDICTED 10:08:59 THAT THE CEMENT JOB WOULD FAIL. HALLIBURTON WARNED OF A SEVERE 10:09:03 GAS FLOW PROBLEM. THESE WARNINGS FELL ON DEAF 10:09:08 EARS. BP'S CORPORATE ATTITUDE MAY BEST 10:09:11 BE SUMMED UP IN AN E-MAIL FROM HIS OPERATIONS DRILLING ENGINEER 10:09:16 WHO OVERSAW BP'S TEAM OF DRILLING ENGINEERS. 10:09:21 AFTER LEARNING OF THE RISKS AND BP'S DECISION TO IGNORE THEM, HE 10:09:26 WROTE, QUOTE, WHO CARES? IT'S DONE, END OF STORY, WE'LL 10:09:30 PROBABLY BE FINED, END QUOTE. THERE IS A COMPLETE 10:09:37 CONTRADICTION BETWEEN BP'S WORDS AND DEEDS. 10:09:39 YOU WERE BROUGHT IN TO MAKE SAFETY THE TOP PRIORITY OF BP, 10:09:44 BUT UNDER YOUR LEADERSHIP, BP HAS TAKEN THE MOST EXTREME 10:09:50 RISKS. BP CUT CORNER AFTER CORNER TO 10:09:53 SAVE A MILLION DOLLARS HERE A FEW HOURS OR DAYS THERE AND NOW 10:09:57 THE WHOLE GULF COAST IS PAYING THE PRICE. 10:10:00 TODAY'S HEARING WILL FOCUS ON BP'S ACTIONS, BUT WE LEARNED 10:10:04 FROM OUR HEARING EARLIER THIS WEEK THAT THE OTHER OIL 10:10:07 COMPANIES ARE JUST AS UNPREPARED TO DEAL WITH A MASSIVE SPILL AS 10:10:10 BP. WE ARE SEE IN THE OIL INDUSTRY 10:10:16 THE SAME CORPORATE INDIFFERENCE TO RISK THAT CAUSED THE COME 10:10:18 LANCE ON WALL STREET. AND THAT IS WHY REFORM IS SO 10:10:24 URGENTLY NEEDED, PART OF THIS REFORM MUST BE LEGISLATION TO 10:10:28 PUT TEETH INTO OUR REGULATORY SYSTEM BUT PART MUST ALSO BE A 10:10:33 TRANSITION TO A CLEAN ENERGY ECONOMY. 10:10:36 WE'RE ADDICTED TO OIL, THIS ADDICTION IS FOULING OUR 10:10:40 BEACHES, POLLUTING OUR ATMOSPHERE AND UNDERMINING OUR 10:10:42 NATIONAL SECURITY. WE CAN'T SNAP OUR FINGERS OR 10:10:49 TRANSFORM OUR ENERGY ECONOMY OVERNIGHT, BUT WE NEED TO START 10:10:52 DOWN A PATH TO A CLEAN ENERGY FUTURE. 10:10:55 MR. CHAIRMAN, I LOOK FORWARD TO TODAY'S HEARING AND MR. HAYWARD 10:11:00 I THANK YOU FOR APPEARING AND COOPERATING WITH OUR 10:11:04 INVESTIGATION. NEXT GO TO THE FULL COMMITTEE 10:11:08 REMEMBER BART STUPAK OF TEXAS. THANK YOU, MR. CHAIRMAN, 10:11:15 THANK YOU MR. HAYWARD FOR APPEARING BEFORE US. 10:11:19 WE HAVE KIND OF A DUAL TRACK UNDERWAY IN MY OPINION. 10:11:25 WE OBVIOUSLY ARE TRYING TO GATHER THE FACTS, WHAT HAPPENED 10:11:27 IN THE OIL SPILL IN THE GULF OF MEXICO A MONTH AND A HALF AGO, 10:11:35 TRYING TO FIND OUT THE CLOSE. WE HAVE A SYSTEM BUILT UP BASED 10:11:58 ON THE BRITISH TRADITION OVER 200 YEARS OF DUE PROCESS AND 10:12:02 FAIRNESS WHERE PEOPLE THAT DO BAD THINGS OR IN THIS CASE A 10:12:08 CORPORATION THAT'S RESPONSIBLE FOR A BAD ACCIDENT, WE WANT TO 10:12:13 HOLD THEM RESPONSIBLE, DO WHAT WE CAN TO MAKE THE LIABLE 10:12:16 PARTIES PAY FOR THE DAMAGES. MR. STUPAK AND MR. WAXMAN ARE 10:12:20 DOING AN EXCELLENT JOB WORKING WITH DR. BURR NEGLIGENCE AND 10:12:27 MYSELF IN CONDUCTING I THINK A FAIR OVERSIGHT 10:12:30 INVESTIGATION. BOAR GOING TO GET INTO A NUMBER 10:12:38 OF THOSE ISSUES. I'M SPEAKING TOTALLY FOR MYSELF, 10:12:42 I'M NOT SPEAKING FOR THE REPUBLICAN PARTY, I'M NOT 10:12:45 SPEAKING FOR ANYBODY IN THE HOUSE OF REPRESENTATIVES BUT 10:12:46 MYSELF. BUT I'M ASHAMED OF WHAT HAPPENED 10:12:51 IN THE WHITE HOUSE YESTERDAY. I THINK IT IS A TRAGEDY IN THE 10:13:04 FIRKS PROPORTION THAT I WOULD CHARACTERIZE AS A SHAKEDOWN, IN 10:13:11 THIS CASE A $20 BILLION SHAKEDOWN, WITH THE ATTORNEY 10:13:16 GENERAL OF THE UNITED STATES WHO IS CONDUCTING A CRIMINAL 10:13:19 INVESTIGATION AND HAS EVERY RIGHT TO DO THAT TO PROTECT THE 10:13:25 AMERICAN PEOPLE. PARTICIPATING IN WHAT AMOUNTS TO 10:13:30 A $20 MILLION SLUSH FUND WHICH I THINK SET ASTER RIBL PRECEDENT 10:13:35 FOR THE FUTURE. IF I CALLED YOU INTO MY OFFICE. 10:13:41 AVSHTD AND I HAD THE SUBCOMMITTEE CHAIRMAN MR. STUPAK 10:13:45 WITH ME WHO WAS LEGITIMATELY SUBJECTING AN OVERSIGHT 10:13:49 INVESTIGATION ON YOUR COMPANY AND SAID IF YOU PUT SO MANY 10:13:53 MILLIONS OF DOLLARS IN A PROJECT IN MY CONSTITUTIONAL DISTRICT I 10:14:02 COULD GO TO JAIL AND SHOULD GO TO JAIL. 10:14:09 NO THERE IS NO QUESTION THAT BRITISH PETROLEUM OWNS THIS K 10:14:21 LEAK, THAT BP MADE DECISIONS THAT PEOPLE MAY QUESTION. 10:14:27 THERE IS NO QUESTION THAT BP IS LIABLE FOR THE DAMAGES, BUT WE 10:14:31 HAVE A DUE PROCESS SYSTEM WHERE WE GO THROUGH HEARINGS, IN SOME 10:14:36 CASES COURT CASES, LITIGATION AND DETERMINE WHAT THOSE DAMAGES 10:14:38 ARE AND WHEN THOSE DAMAGES SHOULD BE PAID. 10:14:45 SO I'M ONLY SPEAKING FOR MYSELF, I'M NOT SPEAKING FOR ANYBODY 10:14:52 ELSE, BUT I APOLOGIZE, I DO NOT WANT TO LIVE IN A COMPANY WHERE 10:14:56 ANY TIME A CITIZEN FOR A CORPORATION DOES SOMETHING THAT 10:14:59 IS LEGITIMATELY WRONG IS SUBJECT TO SOME SORT OF POLITICAL 10:15:08 PRESSURE THAT IS AGAIN IN MY WORDS AMOUNTS TO SHAKEDOWN. 10:15:10 SO I APOLOGIZE. SO ON THIS HEARING TODAY, I AM 10:15:17 WITH MR. WAXMAN, WITH MR. STUPAK, THERE ARE QUESTIONS THAT 10:15:23 NEED TO BE ASKED THAT ARE LEGITIMATE BECAUSE WE DON'T WANT 10:15:27 ANOTHER OIL SPILL OF THIS MAGNITUDE OR OF ANY MAGNITUDE IN 10:15:32 THE GULF OF MEXICO AND IF THIS SUBCOMMITTEE CAN DO THINGS THAT 10:15:37 MAKE IT MUCH MORE DIFFICULT FOR THIS TYPE OF AN INCIDENT TO 10:15:40 OCCUR IN THE FUTURE, THEN WE WILL HAVE DONE OUR WORK FOR THE 10:15:42 AMERICAN PEOPLE. WITH THAT, MR. CHAIRMAN, I YIELD 10:15:47 BACK. TODAY IS THE 59th DAY OF THE 10:15:57 BP OIL SPILL THAT HAS DEVASTATED MUCH OF THE GULF OF MEXICO. 10:15:59 11 MEN LOST THEIR LIVES THE DAY THE DEEP WATER HORIZON DRILLING 10:16:04 RIG EXPLODED AND IN THE 59 DAYS THAT HAVE FOLLOWED, COUNTLESS 10:16:10 PEOPLE HAVE LOST THEIR LIVELIHOOD AS THE OIL POLLUTES 10:16:16 FISHING GROUNDS AND DAMAGES THE BEACHES OF THE UNITED STATES. 10:16:22 OUR FIRST HEARING EXPOSED PROBLEMS DISCOVERED WITH THE 10:16:26 BLOWOUT PREVENTSER AND SEVERAL OTHER FACTORS THAT CONTRIBUTED 10:16:31 TO THE DISASTER. OUR SECOND HEARING WAS A FIELD 10:16:37 HEARING IN NEW ORLEANS WHERE WE HEARD FROM THE WIDOWS OF TWO 10:16:41 WOMEN WHOSE HUSBANDS DIED IN THE DEEP WATER HORIZON. 10:16:54 WE HAVE BEEN SITTING THROUGH MORE THAN 50 HOURS OF BRIEFINGS 10:16:58 OF CORPORATE, GOVERNMENTAL EXPERTS TO DETERMINE WHAT WENT 10:17:02 WRONG WITH EXPLORATION OF THE McCONDO WELL. 10:17:05 WE HAVE REVIEWED SEVERAL QUESTIONABLE DECISIONS MADE BY 10:17:09 BP IN THE DAYS AND HOURS LEADING UP TO THE EXPLOSION AND WHAT WE 10:17:13 HAVE LEARNED SO FAR IS ALARMING. WE HAVE LEARNED THAT TIME AFTER 10:17:17 TIME, BP HAD WARNING SIGNS THAT THIS WAS AS ONE EMPLOYEE PUT IT 10:17:23 A NIGHTMARE WELL. FOR EXAMPLE, BP DISREGARDED 10:17:31 QUESTIONABLE RESULTS FROM PRESSURE TESTS AFTER CEMENTS IN 10:17:34 THE WELL. BP SELECTED THE RISKIER OF TWO 10:17:38 OPTIONS FOR THEIR WELL DESIGN. THEY COULD HAVE HUNG A LINER 10:17:41 FROM THE LOWER END OF THE CASING ALREADY IN THE WELL AND INSTALL 10:17:44 A TIE BACK ON THE TOP OF THE LINER WHICH WOULD HAVE PROVIDED 10:17:48 ADDITIONAL BARRIERS TO THE RELEASE OF HYDROCARBONS, INSTEAD 10:17:53 THEY LOWERED A FULL STRING OF THE NEW CASING WHICH TOOK LESS 10:17:59 TIME AND COST LESS BUT DID NOT PROVIDE THE SAME PROTECTION OF 10:18:04 ESCAPING HYDROCARBONS. BP WAS WARNED BY HALLIBURTON 10:18:13 COULD HAVE A BIG PROBLEM IF THEY -- BP REJECTED 10:18:20 HALLIBURTON'S ADVICE TO USED ADDITIONAL CENTRALIZERS IN AN 10:18:25 E-MAIL ON APRIL 16. A BP OFFICIAL INVOLVED IN THE 10:18:28 DECISION EXPLAINED AND I QUOTE, IT WILL TAKE TEN HOURS TO 10:18:32 INSTALL THEM, I DON'T LIKE THIS. BP CHOSE NOT TO FULLY CIRCULATE 10:18:36 THE MUD IN THE WELL FROM THE BOTTOM TO THE TOP, WHICH WAS AN 10:18:40 INDUSTRY RECOMMENDED BEST PRACTICE THAT WOULD HAVE ALLOWED 10:18:44 THEM TO TEST FOR GAS IN THE MUD. BP CHOSE NOT TO USE A CASING 10:18:49 HANGAR LOCKDOWN SLEEVE WHICH WOULD HAVE PROVIDED EXTRA 10:18:52 PROTECTION AGAINST A BLOWOUT FROM BELOW. 10:18:54 THESE ARE JUST A FEW OF THE ISSUES THAT LED TO THE DISASTER. 10:18:59 ONCE DEEP WATER HORIZON EXPLODED AND SAN TO BE THE BOTTOM OF THE 10:19:07 SEA, BP'S DECISION TO CLEAN UP THE SPILL WAS EQUALLY AS POOR. 10:19:14 THEY ISSUED ESTIMATES WHICH MAY HAVE LED TO A SCALED BACK 10:19:17 RESPONSE. WE DISCOVERED THAT BP'S OIL 10:19:20 SPILL RESPONSE PLAN WAS VIRTUALLY IDENTICAL TO OTHER OIL 10:19:25 COMPANIES' PLANS, IN A HEARING TUESDAY, EXXONMOBIL CEO REX 10:19:31 TILLERSON SAID THAT ONCE THE SPILLS OCCUR, WE'RE NOT EQUIPPED 10:19:36 TO HANDLE THEM, END QUOTE. OUR WITNESS TODAY MR. TONY 10:19:44 HAYWARD IS A CHIEF EXECUTIVE OFFICER OF BP, SHORTLY AFTER MR. 10:19:48 HAYWARD TOOK OVER AS THE CEO IN 2007, HE HELD A TOWN HALL 10:19:52 MEETING WITH EMPLOYEES IN HOUSTON THAT. 10:19:55 MEETING HE DISCUSSED THE NEED FOR BP TO BE A LEADER WITH FEWER 10:19:59 PEOPLE IN DECISION MAKING PROCESS. 10:20:01 THIS ARTICLE AND I ASK YOU TO PUT UP THE GUARDIAN ARTICLE. 10:20:06 IN AN ARTICLE FROM SEPTEMBER 2007, GUARDIAN NEWSPAPER, 10:20:12 HAYWARD SAYS OIL COMPANY HAS BECOME TOO CAUTIOUS, ASSURANCE 10:20:15 IS KILLING US, MR. HAYWARD TOLD U.S. STAFF NOTING THAT TOO MANY 10:20:21 PEOPLE WERE ENGAGED IN DECISION MAKING LEADING TO EXCESSIVE 10:20:25 CAUTIOUSNESS SOMETHING THAT CRITICS OF ITS SAFETY 10:20:27 PERFORMANCE IN THE U.S. MIGHT QUESTION. 10:20:29 LET ME PUT UP THESE OTHER NOTES FROM THE SAME MEETING. 10:20:32 WE RECEIVED NOTES FROM BP OF EMPLOYEES AND THEIR NOTE TAKING 10:20:36 FROM THIS MEETING. THE EMPLOYEE NOTES SUMMIT RISED 10:20:40 MR. HAYWARD'S STATEMENTS AS FOLLOWS. 10:20:42 I DON'T THINK HAVING ALL THESE LAYERS OF ASSURANCE REDUCES 10:20:48 RISKS AND IT CAN ACTUALLY INCREASE IT. 10:20:51 INDIVIDUALS NEED TO BE ACCOUNTABLE FOR RISK AND TO 10:20:54 MANAGE IT, END OF QUOTE. I FIND THIS CAVALIER ATTITUDE 10:20:58 TOWARD ASSESSING RISK UNBELIEVABLE, GIVEN THE FACT 10:21:01 THAT AT THE TIME OF THESE STATEMENTS, BP HAD JUST BEEN 10:21:04 RESPONSIBLE FOR THE LARGEST OIL LEAK IN ALASKA HISTORY ON THE 10:21:07 NORTH SLOPE AS WELL AS THE 2005 TEXAS CITY REFINERY EXPLOSION 10:21:13 WHICH KILLED 50 WORKERS AND INJURED ANOTHER 170. 10:21:16 I MUST ASK MR. HAYWARD WHETHER IT WAS WISE TO ADOPT THIS LEANER 10:21:22 DECISION-MAKING PROCESS WITH INPUT FROM FEWER PEOPLE AND A 10:21:24 NEW APPROACH TO MANAGING RISK. UNDER THE LEADERSHIP OF THE 10:21:30 FORMER CHAIRMAN OF BP AMERICA, BP CREATED AN INDEPENDENT OFFICE 10:21:36 OF THE OMBUDSMAN. THE OMBUDSMAN OFFICE WAS 10:21:39 ESTABLISHED BECAUSE LINE WORKERS REPORTED FEARING RETALIATION IF 10:21:43 THEY REPORTED SAFETY CONCERNS TO MANAGEMENT. 10:21:46 WHEN THE CURRENT CHAIRMAN AND PRESIDENT LAMAR McKAY TOOK OVER, 10:21:49 I MET WITH HIM AND HE SUGGESTED THAT HE HOPED TO IMPROVE THE 10:21:53 CULTURE ENOUGH TO MAKE THE OMBUDSMAN OFFICE UNNECESSARY SO 10:21:58 HE COULD SHUT IT DOWN. I URGED HIM NOT TO ELIMINATE THE 10:22:01 OFFICE BECAUSE IT SERVES A SIGNIFICANT ROLE IN 10:22:04 INVESTIGATING EMPLOYEE COMPLAINTS. 10:22:06 I'M MORE CONCERNED THAN EVER ABOUT BP'S SAFETY AND THE ROLE 10:22:09 THEY TAKE IN ASSUMING RISK. I'M CONCERNED THAT THE CORPORATE 10:22:18 CULTURE, THE CHAIRMAN OF PRESIDENT OF LAMAR McKAY THAT 10:22:24 THERE'S A WILLINGNESS TO CUT COSTS AND TAKE GREATER RISKS, I 10:22:29 LOOK FORWARD TO HEARING THE ANSWERS OF MR. HAYWARD OUR MANY 10:22:33 HARD HITTING COMMITTEE MEMBER ALSO HEAR TODAY. 10:22:36 I HOPE WE WILL HEAR HONEST, CONTRITE AND SUBSTANTIVE 10:22:41 ANSWERS. MR. HAYWARD, YOU OWE IT TO ALL 10:22:45 AMERICANS, FOR THE AMERICANS WHO LIVE AND WORK ON THE GULF COAST, 10:22:48 IT MAY BE YEARS BEFORE THEY GET THEIR LIVES BACK, FOR THE 10:22:51 AMERICANS WHO LOST THEIR LIVES ON THE RIGS, THEIR FAMILIES MAY 10:22:54 NEVER GET THEIR LIVES BACK. MR. HAYWARD, I'M SURE YOU WILL 10:22:57 GET YOUR LIFE BACK AND WITH A GOLDEN PARACHUTE BACK TO 10:23:02 ENGLAND. BUT WE IN AMERICA ARE LEFT WITH 10:23:05 A TERRIBLE CONSEQUENCES OF BP'S RECKLESS DISREGARD FOR SAFETY. 10:23:12 I YIELD BACK MY TIME. TODAY IT DOES OPEN OUR THIRD 10:23:20 HEARING AND A VERY CRITICAL HEARING IN THE DEEP WATER 10:23:32 HORIZON OIL SPILL. THIS HEARING PROVIDES THE 10:23:36 SUBCOMMITTEE WITH AN IMPORTANT OPPORTUNITY TO DIRECTLY QUESTION 10:23:39 THE MAN WHO ULTIMATELY LEADS BP, MR. TONY HAYWARD AND BP'S ROLE 10:23:44 HAS BEEN CENTRAL TO THE CAUSES OF THE INCIDENT AND TO THE 10:23:47 RESPONSE OVER THE COURSE OF OUR INQUIRY TODAY, COMMITTEE 10:23:51 INVESTIGATORS WORKING IN A BY PARTISAN FASHION HAVE CONDUCTED 10:23:56 NUMEROUS INTERVIEWS AND BRIEFINGS AND REVIEWED TENS OF 10:23:59 THOUSANDS OF PAGES OF DOCUMENTS, OUR SUBCOMMITTEE HAS DONE AN 10:24:04 EXCELLENT JOB AND THIS SUB COMMITTEE HAS BEEN FOCUSED ON 10:24:07 GATHERING THE FACTS RATHER THAN RUSHING TO JUDGMENT. 10:24:09 AND FROM THIS INTENSIVE EFFORT WE HAVE BEGUN TO HAVE A SERIES 10:24:16 OF QUESTIONS, EXPLORING THESE AND RELATED QUESTIONS TODAY WILL 10:24:20 HELP US IDENTIFY FOR CONGRESS AND IDENTIFY FOR THE COUNTRY 10:24:24 WHAT WENT WRONG ON APRIL 20th AND THE DAYS THEREAFTER, AND 10:24:27 WHILE WE ARE INVESTIGATING, A PICTURE OF THE CHAIN OF EVENTS 10:24:30 LEADING TO THIS INCIDENT IS EMERGING. 10:24:33 MR. CHAIRMAN, YOU AND CHAIRMAN WAXMAN RECENTLY OUTLINED SOME 10:24:37 CRITICAL QUESTIONS THAT WE HOPE MR. HAYWARD WILL ADDRESS, FOR 10:24:41 EXAMPLE YOU NOTED THE INVESTIGATION HAS IDENTIFIED 10:24:44 QUESTIONABLE CHOICES BY BP ENGINEERS TO USE A PARTICULAR 10:24:47 WELL DESIGN OVER ANOTHER ONE THAT WOULD APPEAR TO HAVE 10:24:51 PROVIDED MORE BUILT IN BARRIERS TO AN UNCRIMINALED GADDIS 10:24:53 CHARGE. THERE WAS THE CHOICE MADE BY BP 10:24:57 TO MOVE FORWARD WITH WHAT APPEARS TO BE AN INADEQUATE 10:25:02 CEMENTING PLAN AND THE RELATED FAILURE DESPITE CLEAR WARNINGS 10:25:06 TO TEST THAT THE CEMENT WAS PROPERLY IN PLACE. 10:25:08 AND IT APPEARS THERE MAY HAVE BEEN A RUSH TO MOVE OFF THIS 10:25:12 WELL, WHETHER THERE MAY HAVE BEEN ECONOMIC OR OTHER TIME AND 10:25:16 PERFORMANCE MEASURES OR SOME COMBINATION THEREOF, IT IS NOT 10:25:21 CLEAR BURKS THAT CLARITY NEEDS TO EMERGE TODAY. 10:25:24 THE QUESTION OUTLINED IN THE CENTRAL ROLE OF BP'S DECISION 10:25:27 MAKING APPEARS THAT BP'S DECISION MAKING APPEARS TO HAVE 10:25:30 HAD IN THIS INCIDENT. WE NEED TO UNDERSTAND THAT 10:25:34 DECISION MAKING, MR. HAYWARD. WHAT FACTORS INFLUENCED IT, 10:25:38 WHETHER THE DECISIONS REFLECTED A MANAGEMENT AND AN OPERATIONAL 10:25:42 MIND SET THAT FAILED, FAILED TO MAXIMIZE SAFETY IN A CHALLENGING 10:25:45 DEEP SEA ENVIRONMENT. IT IS IMPORTANT TO NOTE THAT THE 10:25:49 PICTURE DEVELOPING FROM THIS INVESTIGATION IS NOT ONE OF 10:25:53 TECHNOLOGICAL LIMITS IN DEEP SEA DRILLING, THE CONSTRUCTION OF AN 10:25:58 18,000-FOOT WELL WAS NOT PUSHING THE ENVELOPE OF ENGINEERING KNOW 10:26:01 HOW SO FAR AS WE IDENTIFIED, BUT THE PICTURE DEVELOPING IS ONE OF 10:26:06 UNSAFE INDUSTRY PRACTICES, ALTHOUGH CLEARER MORE FOCUSEDED 10:26:11 INDUSTRY STANDARDS MAY BE ABLE GOING FORWARD, THE BEST INDUSTRY 10:26:16 PRACTICE WOULD HAVE RESULTED IN MORE CAUTIOUS DESIGNS AND MORE 10:26:21 TESTING, MORE SAFEGUARDS AND ULTIMATELY NO LOSS OF CONTROL OF 10:26:24 THE WELL. RATHER AND QUITE CLEARLY THE 10:26:29 PICTURE IS QUESTIONING DECISION MAKING BY PEOPLE CHARGED WITH 10:26:32 DESIGNING AND SUCCESSFULLY DRILLING, AND CONTROLLING A WELL 10:26:37 THAT IS A MILE UNDER WATER. IT IS A SERIES OF CHOICES WHICH 10:26:41 TAKEN TOGETHER CREATED AN OIL WELL PARTICULARLY VULNERABLE TO 10:26:44 A BLOWOUT AND OF ALL THE PEOPLE WHO MAY HAVE BEEN DISTRACTED, 10:26:48 UNAWARE OR RESISTANT TO RECOGNIZING THE PROBLEMS AROUND 10:26:52 THEM. DOCUMENTS SHOW THAT BP WAS 10:26:54 PREPARED TO RUN A TEST ON THE QUALITY OF THE CEMENT SHOT, BUT 10:26:58 CHOSE NOT TO. I CAN'T UNDERSTAND WHY GIVEN THE 10:27:01 HISTORY OF THIS PARTICULAR WELL WITH FOUR PREVIOUS WELL 10:27:04 CONTROLLED INCIDENTS IN THE TWO MONTHS PRY YOU TO APRIL 20. 10:27:08 THE RIG PERSONNEL APPEAR TO HAVE TAKEN THEIR EYE OFF THE BALL. 10:27:13 BP EMPLOYEES WERE THE KEY D 10:27:18 DECISION MAKERS. CERTAINLY OTHERS MAY HAVE 10:27:21 CONTRIBUTED TO THIS INCIDENT. THE OVERALL EFFECTIVENESS OF THE 10:27:28 RESPONSE AND THE EFFORT TO HELP THOSE HARMED BY THE INCIDENT IS 10:27:34 SOMETHING WE MUST -- BUT IT IS BP'S DECISION MAKING ABOUT THE 10:27:37 WELL DESIGN, THE CEMENTING PROGRAM, THE PREPARATION, THE 10:27:44 INTEGRITY TESTS OR JUST THE GENERAL LACK OF CURIOSITY AS TO 10:27:47 WHY THESE WOULD BE NECESSARY T FAILURE TO FOLLOW BEST PRACTICES 10:27:51 THAT OUR INVESTIGATION TO DATE IS SHOWING WERE CRITICAL FACTORS 10:27:55 IN THIS INCIDENT. BUT THIS DECISION MAKING IS 10:27:58 DIFFICULT TO SQUARE WITH THE PRIORITIES OF BP'S CHIEF 10:28:04 EXECUTIVE. BEFORE YOU BECAME CHIEF 10:28:05 EXECUTIVE YOU DESCRIBED OUT THE DEPTH OF A WORKER SHAPED YOUR 10:28:10 OPINIONS, YOU SAID AND I'M QUOTING, I WENT TO THE FUNERAL 10:28:13 TO PAY MY RESPECTS. AT THE END OF THE SERVICE, HIS 10:28:17 MOTHER CAME UP TO ME AND BEAT ME ON THE CHEST, WHY DID YOU LET IT 10:28:21 HAPPEN, SHE ASKED. IT CHANGED THE WAY I THINK ABOUT 10:28:24 SAFETY. LEADERS MUST MAKE SAFETY OF ALL 10:28:26 WHO WORK FOR THEM A PRIORITY, END QUOTE. 10:28:29 MR. HAYWARD, I RESPECTFULLY REQUEST THAT YOU ANSWER THIS 10:28:33 QUESTION IN YOUR OPENING STATEMENT IF NOT FOR ME, THEN 10:28:35 FOR THE TWO LADIES WHO TESTIFIED BEFORE OUR COMMITTEE ON THE 10:28:38 FIELD HEARING WHO LOST THEIR HUSBANDS ON THE DEEP WATER 10:28:44 HORIZON. YOU HAVE BEEN CHIEF EXECUTIVE 10:28:46 SINCE 2007, YOU SAID SAFETY IS YOUR NUMBER ONE PRIORITY AND YOU 10:28:53 WOULD FOCUS LIKE A LASER BEAM ON SAFETY. 10:28:56 WE HAVE NOW LEARNED FROM THIS INVESTIGATION THAT BP EMPLOYEES 10:29:00 MADE FIVE CRITICAL DECISIONS THAT MAY HAVE CONTRIBUTED TO 10:29:04 WELL FAILURE WHERE WELL SAFETY WAS TRADED OFF. 10:29:06 IN FACT IT WAS NOT THE PRIORITY. SO TODAY, WILL YOU ASSERT BEFORE 10:29:10 THIS SUBCOMMITTEE THAT ALL DECISIONS BY BP EMPLOYEES 10:29:13 RELATED TO THE DEEP WATER HORIZON REFLECTED YOUR PRIORITY, 10:29:17 YOUR PRIORITY OF SAFETY FIRST. MR. CHAIRMAN, THE DISASTER IN 10:29:24 THE GULF OF MEXICO SHOWS A SERIES OF UNCHECKED BAD 10:29:27 DECISIONS, WE IN CONGRESS AND THE FEDERAL GOVERNMENT MUST ALSO 10:29:31 BE MINDFUL OF THE CONSEQUENCES OF BAD DECISION MAKING. 10:29:35 THE SUBCOMMITTEE HEARD SOME OF THE ADMINISTRATION'S DECISIONS 10:29:38 ARE THREATENING THE LIVELIHOODS OF WORKERS AND FAMILIES WHO 10:29:42 DEPEND UPON THE ENERGY INDUSTRY. WE HAVE KILLED HALF OF THEIR 10:29:45 FISHING WITH THE DEEP WATER HORIZON SPILL AND IT LOOKS LIKE 10:29:48 WE'RE GOING TO KILL THE OTHER HALF OF THEIR COMMITTEE WITH OUR 10:29:54 MORATORIUM. OUR HEARING TODAY LOOKS AT THE 10:29:56 CONSEQUENCES OF BAD DECISIONS AND THE LESSONS LEARNED, MAY WE 10:29:59 HAVE THE WISDOM AND HUMILITY TO TAKE SOME OF THOSE LESSONS AND 10:30:03 APPLY THEM TO OURSELVES? AND I YOOELTD YIELD BACK THE 10:30:08 BALANCE OF MY TIME. I WOULD LIKE TO TURN TO 10:30:10 CHAIRMAN OF THE ENERGY AND ENVIRONMENT SUBCOMMITTEE AND 10:30:12 CHAIRMAN OF THE SUBCOMMITTEE ON CLIMATE MR. MARKEY, FIVE MINUTES 10:30:19 FOR AN OPENING STATEMENT. THANK YOU, MR. CHAIRMAN, VERY 10:30:24 MUCH. I WANT TO BEGIN BY DISAGREES IN 10:30:26 THE STRONGEST POSSIBLE TERMS WITH WHAT MR. BARTON SAID IN HIS 10:30:34 OPENING STATEMENT. NOT ONLY IS THE COMPENSATION 10:30:38 FUND THAT WAS CREATED YESTERDAY AT THE WHITE HOUSE IN AN 10:30:48 AGREEMENT REACHED BY PRESIDENT OBAMA, NOT A SLUSH FUND AND NOT 10:30:53 A SHAKEUP, RATHER IT WAS THE GOVERNMENT OF THE UNITED STATES 10:31:00 WORKING TO PROTECT THE MOST VULNERABLE CITIZENS THAT WE HAVE 10:31:04 IN OUR COUNTRY RIGHT NOW. # WE CANNOT WAIT AS 10:31:29 INFORTUNATELY SO MANY CITIZENS WHO WERE VICTIMS OF THE "EXXON 10:31:35 VALDEZ" SPILL HAD TO WAIT YEARS IN ORDER TO SEE THOSE FAMILIES 10:31:38 COMPENSATED. WE CAN'T LOSE SIGHT OF THE FACT 10:31:47 THAT THE 1984 BOPAUL DISASTER AND THE LAWSUITS THAT WERE 10:31:54 RELATED TO IT WERE ONLY SETTLED LAST WEEK. 10:32:32 AFTER EXAMINING THE DOCUMENTS BP GAVE THE FAMILY $5,000. 10:32:40 THE FAMILIES IN THE GULF WILL BE CRUSHED FINANCIALLY UNLESS THIS 10:32:49 COMPENSATION FUND IS PUT INTO PLACE. 10:32:52 AS EACH DAY AND WEEK AND MONTH GOES BY, THE HISTORY OF THESE 10:32:58 FAMILIES ARE GOING TO BE ALTERED. 10:33:01 AND PERMANENTLY ALTERED UNLESS THEY ARE GIVEN THE FINANCIAL 10:33:06 CAPACITY TO TAKE CARE OF THEIR LOVED ONES, THEIR CHILDREN, 10:33:11 THEIR FAMILIES. IS THAT'S WHY THIS COMPENSATION 10:33:24 FUND IS SO IMPORTANT, THAT'S WHY IT IS NOT A SHAKEDOWN. 10:33:29 IT IS IN FACT PRESIDENT OBAMA ENSURING THAT A COMPANY WHICH 10:33:34 HAS SPOILED THE WATERS OF OUR NATION IS MADE ACCOUNTABLE FOR 10:33:39 THE HARM WHICH IS DONE TO OUR PEOPLE. 10:33:42 A COMPANY WHICH SAID FOR THE FIRST WEEK THAT IT WAS ONLY 10:33:46 1,000 BARRELS OF OIL PER DAY WHEN WE NOW KNOW THAT THEY KNEW 10:33:51 IT WAS AT LEAST 1,000 TO 14,000 BARRELS. 10:33:56 A COMPANY WHICH CONTINUES TO DENY THAT THERE WERE UNDERWATER 10:34:00 TOXIC PLUMES, A COMPANY WHICH HAS NOT BEEN PROVIDING THE 10:34:04 PROPER PROTECTIVE GEAR, A COMPANY THAT SAYS THEY COULD -- 10:34:21 THIS IS NOT A SHAKEDOWN OF THEIR COUNTRY, THIS IS THE AMERICAN 10:34:25 GOVERNMENT, PRESIDENT OBAMA ENSURING THAT THIS COMPANY IS 10:34:28 MADE ACCOUNTABLE AND SENDING A SIGNAL TO ALL OTHER COMPANIES 10:34:34 THAT SEEK TO TREAT ORDINARY AMERICAN FAMILIES IN A WAY THAT 10:34:40 CAN DESTROY THEIR ENTIRE FAMILY'S HISTORY. 10:34:43 THIS IS IN MY OPINION THE AMERICAN GOVERNMENT WORKING AT 10:34:45 ITS BEST. THIS IS CREATING TRULY THE KIND 10:34:50 OF PARTNERSHIP BETWEEN THE PUBLIC AND PRIVATE SECTOR. 10:34:54 THAT CAN MAKE SURE THAT INNOCENT VICTIMS ARE NOT ROAD KILL AS A 10:35:01 RESULT OF CORPORATE PLANS THAT DID NOT ACTUALLY FACTOR IN THE 10:35:05 HARM THAT CAN OCCUR TO ORDINARY FAMILIES. 10:35:08 SO I JUST COULD NOT DISAGREE MORE STRONGLY. 10:35:13 I THINK THAT THIS IS IN MY OPINION ONE OF THE MOST 10:35:17 IMPORTANT HEARINGS THAT THIS CONGRESS WILL EVER HAVE BECAUSE 10:35:20 IT IS ENDING A SIGNAL TO ANY CORPORATIONS OUT THERE INCLUDING 10:35:29 THE ONES THAT TESTIFIED ON TUESDAY THAT THEY HAD TO RESPOND 10:35:34 TO THE HARM WHICH COULD BE DONE IN THE GULF IF ONE OF THEIR RIGS 10:35:37 HAD THE SAME KIND OF CATASTROPHIC EVENT THAT THEY 10:35:41 WILL BE MADE ACCOUNTABLE. SO I THANK YOU, MR. CHAIRMAN FOR 10:35:47 HOLDING THIS HEARING AND I THANK YOU MR. HAYWARD BECAUSE 10:35:51 YESTERDAY WAS THE DAY WHERE THE PAGE BEGAN TO BE TURNED AND WE 10:35:57 MOVE TO A NEW ERA, WHERE IN FACT YOUR COMPANY IS MADE ACCOUNTABLE 10:36:03 AND THE CITIZENS OF THE GULF ARE MADE WHOLE. 10:36:05 THANK YOU, MR. CHAIRMAN. MR. SULLIVAN, HOLD YOUR 10:36:14 OPENING STATEMENT TO THREE MINUTES, PLEASE SIR. 10:36:17 CHAIRMAN, STUPAK, THANK YOU FOR HOLDING THIS HEARING TODAY. 10:36:23 ON APRIL 20, 2010, A FIRE -- THIS TERRIBLE DISASTER RESULTED 10:36:29 IN THE LOSS OF 11 LIVES AND INJURED MANY MORE MEMBERS OF THE 10:36:34 126-PERSON CREW. THERE IS NO QUESTION THAT THE BP 10:36:36 OIL SPILL IS A TRAGEDY. IN FACT IT IS THE WORST 10:36:41 ENVIRONMENTAL DISASTER IN OUR NATION'S HISTORY. 10:36:44 I BELIEVE WE MUST DO EVERYTHING IN OUR POWER TO CAP THE LEAK, 10:36:47 FIND OUT WHAT CAUSED THE EXPLOSION AND ENSURE NOTHING 10:36:50 LIKE THIS EVER HAPPENS AGAIN. BP MUST BEAR THE ENTIRE 10:36:56 FINANCIAL BURDEN FOR THIS DISASTER AND THE AMERICAN 10:36:58 TAXPAYER SHOULD NOT BE ON THE HOOK FOR A DIME. 10:37:02 ACCORDING TO THE OCCUPATION SAFETY HEALTH ADMINISTRATION, 10:37:05 THERE'S MOUNTING EVIDENCE THAT BP HAS ONE OF THE WORST SAFETY 10:37:09 RECORDS OF ANY MAJOR OIL COMPANY OPERATING IN THE UNITED STATES. 10:37:13 TO THIS END, I'M LOOKING FORWARD TO EXAMINING WITH MR. HAYWARD 10:37:18 WHETHER THERE IS A DEFICIENT SAFETY CULTURE AT BP THAT LED TO 10:37:22 THIS DISASTER AND OTHER RECENT ONES INCLUDING THE BP REFINELY 10:37:27 EXPLOSION IN 2005 IN TEXAS CITY, TEXAS AND A BP PIPELINE SPILL IN 10:37:34 2007 WE RELEASED 200,000 GALLONS OF OIL INTO THE ALASKAN 10:37:40 WILDERNESS. MR. HAYWARD WHY IS BP'S RECORD 10:37:43 ON SAFETY SO SPOTTY? WHAT IS EQUALLY AS IMPORTANT TO 10:37:48 COMBAT THE SPILL IS THE KNEE JERK LEGISLATION REACTION FROM 10:37:51 THE CONGRESS. RIGHT NOW THE ADMINISTRATION AND 10:37:53 THEIR ALLIES IN THE HOUSE ARE MORE FOCUSSED ON PUTTING THE OIL 10:37:57 AND GAS INDUSTRY OUT OF BUSINESS ON SOLUTIONS TO THE PROBLEM. 10:38:01 INSTEAD OF WORKING IN A BUY PART AN WAY FOR RIGOROUS SAFETY 10:38:07 STANDARDS ON ALL OFFSHORE RIGS, THE M IS EXPLOITING THIS 10:38:10 DISASTER TO ADVANCE THIS DISASTROUS CAP AND TRADE ENERGY 10:38:14 POLICY, WHICH WON'T STOP THE WELL FROM LEAKING BUT RATHER 10:38:19 WILL ONLY SERVE AS A NATIONAL TAX ON -- CRIPPLING OUR ECONOMY 10:38:23 AND MAKING THE UNEMPLOYMENT LINES LONGER. 10:38:26 I BELIEVE CONGRESS SHOULD WORK TOWARDS SAFETY INSPECTIONS ON 10:38:35 ALL OFFSHORE WELLS. A BAN ON OFFSHORE DRILLING WILL 10:38:38 ONLY PUT AMERICANS OUT OF WORK. BUT IT WILL SEND A -- IT WILL 10:38:43 SEND ENERGY AND GAS PRICES THROUGH THE ROOF AND INCREASE 10:38:47 OUR RELIANCE ON FOREIGN, IMPORTED OIL. 10:38:49 WE STILL HAVE WORK TO DO TO UNCOVER EXACTLY WHAT WENT WRONG 10:38:53 AND MR. QUESTIONS REMAIN ON THE ONGOING EFFORTS TO PLUG IS LEAK. 10:38:58 THIS SHOULD NOT BE AN EXCUSE TO -- AS WE WILL NEED MORE OIL 10:39:04 AND NATURAL GAS TO MEET THE CRUCIAL NEEDS OF OUR NATION, AND 10:39:07 I YIELD BACK THE BALANCE OF MY TIME. 10:39:11 I WOULD LIKE TO HEAR FROM THE CHAIRMAN EMERITUS OF THE ENERGY 10:39:16 COMMITTEE, MR. DINGLE FOR FIVE MINUTES, PLEASE, SIR. 10:39:19 CHAIRMAN, I COMMEND YOU FOR HOLDING THIS IMPORTANT HEARING 10:39:21 TODAY. WE SIT HERE ON DAY 59 OF THE 10:39:27 WORST ENVIRONMENTAL DISASTER IN THE HISTORY OF THIS COUNTRY. 10:39:31 11 PEOPLE ARE DEAD, THE ALREADY FRAGILE ECONOMY OF AN ENTIRE 10:39:38 REGION IS IN REAL DANGER OF SHATTERING. 10:39:40 WE WILL BE FEELING THE ENVIRONMENTING CONSEQUENCES FOR 10:39:41 YEARS TO COME. AND GOD ALMIGHTY ALONE KNOWS 10:39:47 WHAT THE HEALTH AND ENVIRONMENTAL EFFECTS OF THE 10:39:50 CONTAINMENT AND CLEANUP STRATEGIES WILL BE. 10:39:53 MILLIONS OF GALLONS OF CHEMICAL DISPERSANTS AND CONTROLLED 10:39:59 BURNS. SADLY WE CAN'T EVEN GET A DECENT 10:40:01 ESTIMATE OF THE AMOUNT OF OIL AND GAS THAT'S SPEWING OUT INTO 10:40:04 THE WATER. BP HAS BEEN BEFORE THIS 10:40:09 COMMITTEE MANY TIMES. AND RARELY HAS IT BEEN APLEASANT 10:40:12 MEETING. BECAUSE IN VARIABLY THEY HAVE 10:40:17 APPEARED HERE TO DEFEND SERIOUS FAILURES ON THE PART OF THE 10:40:20 COMPANY. THE COMPANY HAS A HISTORY OF 10:40:25 CUTTING CORNERS, APPARENTLY, FOR THE ALMIGHTY DOLLAR. 10:40:29 TEXAS CITY, THEY PAID THERE $50 MILLION IN CRIMINAL FINES, 10:40:36 ALASKA'S NORTH SIDE SLOPE WHICH WAS INVESTIGATED BY THIS 10:40:39 SUBCOMMITTEE, WHERE A PIPE CORRODED, ALLOWING 1 MILLION 10:40:42 LITERS OF OIL TO SPILL. IN EACH INSTANCE, WE WERE HOPING 10:40:48 THAT THE ASSURANCES GIVEN BY BP THAT THIS WOULD NOT HAPPEN AGAIN 10:40:55 HAVE BEEN REGRETTABLY UNTRUE. IN REFERENCE TO A DECISION ON 10:41:02 HOW TO SECURE THE FINAL 1,200 FEET OF THE WELL, A SINGLE 10:41:05 CASING OR TIE BACK OF BP ENGINEER SAID NOT RUNNING THE 10:41:10 TIE BACK 15I6S A GOOD DEAL OF TIME AND MONEY. 10:41:21 IN REFERENCE TO INSTALLING FOR CENTRALIZERS, A BP INSPECTOR 10:41:25 SAID, IT WILL TAKE TEN HOURS TO INSTALL THEM, I AM CONCERNED, I 10:41:32 DON'T WANT TO USE IT. SO WERE WE. 10:41:35 EVEN IF THE HOLE IS PERFECTLY STRAIGHT, AS STRAIGHT PIECE OF 10:41:40 PIPE, EVEN IN TENSION WILL NOT SEEK THE CENTER OF THE HOLE 10:41:44 UNLESS IT HAS SOMETHING TO CENTRALIZE IT. 10:41:47 I WANT YOU TO LISTEN TO THIS, BUT WHO CARES? 10:41:50 IT'S DONE, END OF STORY. IT WILL PROBABLY BE FINE. 10:41:53 AND NOTE THE WORD PROBABLY. AND WE'LL GET A GOOD CEMENT JOB. 10:41:57 I WOULD RATHER HAVE TO SQUEEZE THAT GETS STUCK, SO GUARD RIGHT 10:42:03 ON THE RISK-REWARD OCCASION. MR. CHAIRMAN, THE COMMENTS OF 10:42:09 OUR WITNESS TODAY REVEAL LITTLE SORROW FOR THE EVENTS THAT HAVE 10:42:13 OCCURRED. AND HERE HE SAID, THE GULF OF 10:42:16 MEXICO IS A VERY BIG OCEAN, THE AMOUNT OF VOLUME OF OIL AND 10:42:23 DISPERANT WE ARE PUTTING IN IS TINY IN RELATION TO THE TOTAL 10:42:28 WATER VOLUME AND THEN THE ENVIRONMENTAL IMPACT OF THE 10:42:32 DISASTER IS LIKELY TO BE VERY, VERY MODEST. 10:42:35 I WONDER IF HE WISHES TO STAND ON THAT STATEMENT TODAY. 10:42:39 WHEN MR. HAYWARD RESPONDED TO THE CLAIMS THAT CLEANUP WORKERS 10:42:43 WERE BECOMING ILL BECAUSE OF OIL FUMES AND SUCH, HE SAID THIS, 10:42:48 FOOD POISONING IS CLEARLY A BIG ISSUE. 10:42:51 FINALLY MOST FAMOUSLY, MR. HAYWARD INFORMS US HE WANTS HIS 10:42:58 LIFE BACK, LAST YEAR MR. HAYWARD ENJOYED A SPLENDID 40% PAY RAISE 10:43:05 EVEN THOUGH BP'S PROFITS DROPPED. 10:43:08 I JUST HAPPEN TO BE A POOR POLISH LAWYER FROM DETROIT. 10:43:11 BUT IT SEEMS TO ME THAT THIS IS A CURIOUS RESPONSE TO A DROP IN 10:43:15 PROFITS. IT MAKES ME WONDER WHAT THE 10:43:17 COMPENSATION PACKAGE OF OUR WITNESS WILL BE THIS YEAR. 10:43:21 MR. CHAIRMAN, AGAIN, I THANK YOU FOR YOUR DILIGENCE AND HARD WORK 10:43:24 ON THIS ISSUE. I LOOK FORWARD TO HEARING FROM 10:43:27 OUR WITNESSES TODAY AND LOOK FORWARD TO WORKING WITH YOU ON 10:43:29 THIS MATTER. THANK YOU. 10:43:32 THANK YOU, MR. CHAIRMAN. NEXT MS. BLACKBURN, IF YOU WILL 10:43:38 MAKE YOUR OPENING STATEMENT PLEASE. 10:43:40 THANK YOU, MR. CHAIRMAN, I THANK YOU AND RANKING MEMBER 10:43:43 BURGESS FOR HOLDING THE HEARING TODAY. 10:43:45 MR. HAYWARD, I THANK YOU FOR YOUR WILLINGNESS TO TESTIFY 10:43:48 BEFORE THIS COMMITTEE. YOU KNOW, WHEN NEWS OF THE BP 10:43:53 SPILL BEGAN AND INFORMATION ABOUT THE WELL STARTED TO 10:43:55 CIRCULATE, IT SEEMEDA THERE WAS PROBLEMS NOT ONLY WITH BP, BUT 10:44:00 ALSO WITH MMS BUREAUCRACY AND MAYBE THE PROBLEM LAY THERE 10:44:07 RATHER THAN WITH ANYTHING THAT COULD HAVE GONE WRONG WITH BP, 10:44:10 THAT IT WAS THERE WITH MMS. WHAT WELEARNED AND 10:44:17 CONFIRMED THAT THAT IS NOT CORRECT, THAT THE PROBLEM DOES 10:44:20 LIE WITH BP AND WHAT WENT WRONG, WHILE THERE ARE MANY FAULTS WITH 10:44:26 MMS ON SAFETY AND OVERSIGHT, MOST OF THE DATA POINTS TO WRONG 10:44:31 DECISION MAKING BY BP'S MANAGEMENT AND THIS IS NOT THE 10:44:33 FIRST TIME AND WE HAVE TALKED ABOUT THAT IN SEVERAL OF OUR 10:44:37 OPENING STATEMENTS THIS MORNING. IT'S NOT THE FIRST TIME WE HAVE 10:44:41 BEEN BEFORE THIS COMMITTEE ON SAFETY PROBLEMS, AND MOST 10:44:45 RECENTLY AS THE TEXAS CITY 2005 AND ALASKA INCIDENTS WHICH 10:44:49 REVEALED INSUFFICIENT PROTOCOLS IN BP'S MANAGEMENT AND SAFETY 10:44:55 HIERARCHY, THERE WAS A STATEMENT FROM BP THAT YOU ALL WOULD 10:44:59 QUOTE, UNQUOTE FOCUS LIKE A LIZZER ON SAFETY. 10:45:01 AND IT IS CONCERNING TO US THAT THE APPEARANCE IS, MR. HAYWARD 10:45:06 THAT BP HAS NOT LEARNED FROM PREVIOUS MISTAKES, SO IT LEAVES 10:45:10 US ASKING THE QUESTIONS OF YOU AND OF BP, WAS THIS ACCIDENT 10:45:16 CAUSED BY NEGLIGENCE? WAS IT CAUSED BY RISK TAKING? 10:45:21 WAS IT CAUSED BY COST CUTTING MEASURES? 10:45:24 BY BP DECISION MAKERS AND UNFORTUNATELY FOR CITIZENS, 10:45:30 BEACHES AND WILDLIFE ALL ALONG THE COASTAL REGION, THEY ARE 10:45:34 PAYING A PRICE FOR THOSE MISPLACED DECISIONS. 10:45:39 BP CANNOT BLAME MOTHER NATURE OR EQUIPMENT FAILURE OR EVEN OTHER 10:45:45 SUBCONTRACTORS. THEIR ACTIONS HAVE PUT AT RISK 10:45:48 THE LIVELIHOOD OF COMMUNITIES AND BUSINESSES THAT DEPEND ON 10:45:52 THE GULF, NOT ONLY FOR SEAFOOD AND TOURISM, BUT ALSO ENERGY 10:45:57 PRODUCTION THAT THIS NATION AS A WHOLE RELIES UPON. 10:46:02 IN ADDITION, THE CURRENT ADMINISTRATION ALSO SHARES A 10:46:05 SIGNIFICANT PORTION OF THE BLAME FOR THE OIL SPILL. 10:46:07 I MENTIONED MMS EARLIER AND THE MMS OFFICIALS APPROVED 10:46:12 INADEQUATE SPILL RESPONSE PLANS AND FIELD INSPECTORS RUBBER 10:46:17 STAMPED INSPECTION PAPERS SUBMITTED BY OIL COMPANIES. 10:46:20 THIS IS ANOTHER AREA WHERE WE AS MEMBERS OF CONGRESS IN DOING OUR 10:46:25 DUE DILIGENCE WILL ASK YOU ALL AND MMS WHY. 10:46:28 BUT WHAT IS THE MOST DAMAGING IS THAT THE PRESIDENT AND SENIOR 10:46:32 OFFICIALS KNEW ON DAY ONE THE BLOWOUT PREVENTER WAS NOT 10:46:35 WORKING AND KNEW OF THE POTENTIAL SPILLAGE. 10:46:39 WHILE BP SHOULDERS MUCH OF THE RESPONSIBILITY FOR THIS SPILL, 10:46:42 THE LACK OF EFFORT BY THIS ADMINISTRATION TO CONTAIN THE 10:46:45 SPILL HAS DOOMED THE ECONOMY AND WILDLIFE OF THE GULF COAST FROM 10:46:50 AN OIL SPILL WHICH COULD HAVE BEEN CONTAINED. 10:46:55 AND NOW RECENTLY IMPOSED DRILLING MORATORIUMS WILL 10:46:59 FURTHER DEVASTATE AMERICA'S ENERGY PRODUCTION AND WILL 10:47:02 DESTROY HUNDREDS OF THOUSANDS OF JOBS IN THE GULF COAST REGION. 10:47:06 THANK YOU FOR BEING WITH US TODAY, MR. CHAIRMAN, I YIELD THE 10:47:09 BALANCE OF MY TIME. THANK YOU. 10:47:13 I NEXT TURN TO VICE CHAIRMAN OF THE SUBCOMMITTEE, OPENING THREE 10:47:19 MINUTES SIR. MR. HAYWARD, YOU'RE NOT GOING 10:47:26 TO GET A LEK SCHUR FROM ME TODAY AND YOU'RE NOT GOING TO GET AN 10:47:31 APOLOGIES. QUITE FRANKLY THE PEOPLE WHO 10:47:33 LIVE ALONG THE AFFECTED AREA OF THE GULF COAST DESERVE ANSWERS 10:47:36 FROM YOU. WE WERE IN LOUISIANA LAST WEEK 10:47:38 AND WE HAD THE OPPORTUNITY TO HEAR FROM A VARIETY OF 10:47:43 INDIVIDUALS WHOSE LIVES HAVE BEEN DEVASTATED BY THIS OIL 10:47:45 DISASTER AND I USE THE WORD DISASTER SPECIFICALLY BECAUSE I 10:47:49 DON'T THINK SPILL QUITE CAPTURES THE MAGNITUDE OF WHAT'S GOING 10:47:51 ON. THE AMERICAN PEOPLE ARE 10:47:55 FRUSTRATED BECAUSE WE WERE FIRST TOLD THAT THIS WAS A 1,000 10:47:58 BARREL BER DAY RELEASE AND ABOUT A WEEK LATER THAT WAS UPDATED TO 10:48:03 5,000 BARRELS PER DAY. AND AT THE END OF MAY IT WAS 10:48:06 ADJUSTED UPWARDS OF 15,000 TO 19,000 BARRELS A DAY AND THIS 10:48:11 WEEK IT COULD BE AS HIGH AS 60,000 BARRELS A DAY. 10:48:18 THAT'S 17.5 MILLION GALLONS BER WEEK AND OVER THE LENGTH OF THIS 10:48:26 DISASTER IT COULD BE THE LARGEST RELEASE OF OIL IN THE NORTH 10:48:29 AMERICAN CONTINENT IN HISTORY, UNINTENDED. 10:48:31 ONE OF THE THINGS I THINK WE NEED TO KNOW ABOUT TODAY IS THE 10:48:35 DECISIONS THAT YOUR COMPANY MADE AND WHO AHEAD THEM THAT LED TO 10:48:39 THIS EXPLOSION AND SUBSEQUENT DISASTER, WHAT YOUR COMPANY IS 10:48:47 DOING TO FIX THIS PROBLEM AND WHAT YOUR COMPANY IS DOING FOR 10:48:49 ALL THE FAMILIES AND COMMUNITIES THAT HAVE BEEN DEVASTATED BY 10:48:52 THIS DISASTER AND I THINK IT WOULD BE HELP FOLLOW FOR YOU AND 10:48:57 EVERYBODY IN THIS HEARING ROOM TO HEAR FROM THOSE WOMEN WHO 10:49:02 TESTIFIED LAST WEEK, BECAUSE THEY RAISED VERY POINTED 10:49:05 QUESTIONS THAT WERE DIRECTED TO YOUR COMPANY, SIR, AND THEY WERE 10:49:08 QUESTIONED THAT WERE RAISED AFTER THEY GAVE PASSIONATE 10:49:10 TESTIMONY OF WANTING THE OIL AND GAS BUSINESS TO CONTINUE IN 10:49:15 LOUISIANA AND THE GULF COAST REGION. 10:49:17 SO I WOULD LIKE TO HAVE YOU LISTEN TO THEIR KMENTS IN THE 10:49:20 HEARING. THIS IS NATALEE ROSCO. 10:49:24 I WOULD LIKE TO LEAVE HERE TODAY KNOWING THAT BECAUSE OF MY 10:49:28 HUSBAND'S TRAGIC DEATH, WE CAN BEGIN TO FOCUS ON MAKING SAFETY 10:49:32 THE MOST IMPORTANT PRIORITY. NOT TO FOCUS ON MAKING MORE 10:49:38 SAFETY REGULATIONS, BUT ON WAYS TO SAFELY IMPLEMENT THE ONES 10:49:42 THAT WE ALREADY HAVE. THIS CHALLENGE WILL NOT BE IN 10:49:51 VAIN BECAUSE RIGHT NOW MY HUSBAND'S DEATH IS IN VAIN. 10:49:55 IT WILL NOT BE IN VAIN IF IT MAKE THE TOP PRIORITY 10:49:59 AND CAUSE THESE POWERFUL OIL COMPANIES TO KNOW THEY WILL BE 10:50:03 HELD ACCOUNTABLE FOR THEIR ACTIONS. 10:50:07 WILE I UNDERSTAND COMPANIES MUST MAKE A PROFIT. 10:50:11 THIS IS COURTNEY. I DO NOT BELIEVE IT SHOULD BE 10:50:13 AT THE EXPENSE OF RISKING LIVES OR DESTROYING FAMILIES I'M 10:50:17 ASKING TO YOU PLEASE CONSIDER HARSH PUNISHMENTS ON COMPANIES 10:50:21 WHO CHOOSE TO IGNORE SAFETY STANDARDS BEFORE OTHER FAMILIES 10:50:25 ARE DESTROYED. MY FAMILY CAN NEVER AND WILL 10:50:28 NEVER BE ADEQUATELY COMPENSATED FOR OUR LOSS. 10:50:32 THESE ARE NOW WIDOWS WITH SMALL CHILDREN TO TAKE CARE OF 10:50:36 AND THEY ARE THE SYMBOLS AND THE FACES OF THIS DISASTER AND I 10:50:40 LOOK FORWARD TO YOUR TESTIMONY. YIELD BACK THE BALANCE OF MY 10:50:42 TIME. THANK YOU. 10:50:46 NEXT TURN TO MR. GINGREY OF GEORGIA FOR OPENING STATEMENTS. 10:51:00 FIRST OF ALL, I WANT TO EXPRESS MY CONDOLENCES, WE MUST 10:51:05 REMEMBER THOSE LIVES AND THE LIVES OF THEIR FAMILIES AS WE 10:51:07 JUST SAW THAT WERE FOREVER CHANGED ON THAT FATEFUL APRIL 10:51:12 DAY AND WE MUST CONTINUE TO KEEP THEM IN OUR THOUGHTS AND 10:51:16 PRAYERS. FURTHER, WE HAVE AN OBLIGATION 10:51:17 NOT ONLY TO THOSE FAMILIES BUT TO EVERYONE AFFECTED BY THE 10:51:21 AFTERMATH TO GET TO THE BOTTOM OF THE CAUSES OF THIS ACCIDENT 10:51:24 AND THE FAILURE TO SECURE THE SITUATION AND STOP THE 10:51:28 DEVASTATION WRECKED UPON THE GULF COAST. 10:51:31 MR. CLARM, WE HAVE AN OPPORTUNITY IN THIS OVERSIGHT 10:51:34 HEARING TO ASK QUESTIONS TO GET TO THE FACTS OF WHAT HAPPENED. 10:51:37 HOWEVER, TODAY'S HEARING IS INCOMPLETE. 10:51:39 WE CAN ONLY ASCERTAIN HALF OF THE STORY TODAY BECAUSE WE DO 10:51:43 NOT HAVE ANYONE REPRESENTING THE ADMINISTRATION. 10:51:47 THE MINERAL MANAGEMENT SERVICE TO DISCUSS THEIR OVERSIGHT ROLE 10:51:50 AND THEIR RESPONSIBILITY IN ENSURING THAT AN ACCIDENT LIKE 10:51:53 THIS DIDN'T HAPPEN. DEEP OCEAN DRILLING IS NOT NEW. 10:51:57 IN FACT, WE BEEN DOING IT FOR DECADES IN THE GULF COAST. 10:52:00 WHY DID THIS HAPPEN NOW? I'VE HEARD SOME ASSERT THAT IT 10:52:05 WAS A LAX OVERSIGHT OF THE PREVIOUS ADMINISTRATION THAT LED 10:52:07 TO THIS ACCIDENT. WELL FW, THAT'S THE CASE, WHY 10:52:10 DID THIS NOT HAPPEN DURING THE LAST DECADE. 10:52:12 WHY DID THIS OCCUR ALMOST A YEAR AND A HALF INTO THE CURRENT 10:52:16 ADMINISTRATION. WE NEED TO HEAR FROM OUR OWN 10:52:19 DEPARTMENT OF INTERIOR. AND THE MINERAL MANAGEMENT 10:52:22 SERVICES. CERTAINLY, MR. HAYWARD SHOULD BE 10:52:24 PREPARED TO ANSWER BP'S RESPONSIBILITY BUT WE WILL ALSO 10:52:27 NEED ANSWERS FROM THE ADMINISTRATION SO THAT WE CAN 10:52:30 DEMAND ACCOUNTABILITY AND IMPLEMENT PRUDENT REFORMS TO 10:52:33 RETURN US TO SAFE DRILLING IN OUR OCEANS BECAUSE SIMPLY SAYING 10:52:37 NO TO FURTHER AND NEW DRILLING IS NOT A REALISTIC ANSWER. 10:52:42 I FURTHER REALIZE THERE ARE IN THIS ADMINISTRATION WHO HAVE 10:52:47 A PEN CLANT FOR NOT LETTING A CRISIS GO TO WASTE, BUT FOR A 10:52:51 NATION DEPENDENT ON FOREIGN OIL, FOR A NATION WITH UNEMPLOYMENT 10:52:55 HOVERING AT 10%, WE CAN'T JUST SAY WE CAN'T DO THIS. 10:52:58 WE CAN'T TAKE OUR BALL AND GO HOME WHETHER THE CONSEQUENCES 10:53:01 MEAN A WEAKER AMERICA. EVERYONE DEPENDING ON FOREIGN 10:53:06 FUELS, ALL TOO INCLINED IT SEEMS, TO LET JOBS LEAVE THIS 10:53:09 COUNTRY. NO, MR. CHAIRMAN, WE HAVE TO 10:53:12 UNDERSTAND WHAT HAPPENED ON AND LEADING UP TO APRIL 20th. 10:53:16 WE NEED TO ANSWER THOSE QUESTIONS TO DETERMINE IF THE 10:53:18 RULES OR AGENCY OVERNIGHT WIN SUFFICIENT OR IF THIS WAS PURELY 10:53:21 AN ACT OF NEGLIGENCE OR WANTON DISREGARD FOR SOUND REGULATIONS. 10:53:26 NOW WE CAN TRY TO ENACT THE PERFECT REFORM THAT ENSURES THIS 10:53:31 NEVER HAPPENS AGAIN BOUGHT IT WILL NOT CHANGE THE PAST OR THE 10:53:33 TOLL UPON THE LIVES FOREVER CHANGED. 10:53:35 MR. HAYWARD, THE RESPONSIBILITY TO MAKE THESE FAMILIES WHOLE 10:53:39 FALLS TO YOU AND YOUR COMPANY BP YOU HAVE AN OBLIGATION TO RIGHT 10:53:43 THIS WRONG AND NOT ONLY THE PUBLIC TRUST BUT ALSO TO BELIEVE 10:53:46 IN THE FREE MARKET AND ENTREPRENEURSHIP DEMAND IT. 10:53:49 MR. CHAIRMAN, I WAIT THE OPPORTUNITY TO ASK QUESTIONS 10:53:53 WITH THE HOPE THAT WE WILL SOON DISCUSS THESE SAME MATTERS WITH 10:53:56 OUR OWN ADMINISTRATION. AND I YIELD BACK. 10:53:58 THANK YOU, MR. GINGREY. MR. GETT FOR AN OPENING 10:54:06 STATEMENT. AS THIS SAN INVESTIGATIVE 10:54:08 HEARING. LIE SUBMIT MY EXCELLENT OPENING 10:54:12 STATEMENT FOR THE RECORD IN ORDER TO HAVE MORE TIME TO 10:54:15 QUESTION THE WITNESS. VERY WELL. 10:54:17 MR. DOYLE, OPENING STATEMENT. MR. CHAIRMAN, THANK YOU FOR 10:54:20 CONVENING THIS HEARING TODAY SO WE CAN BEGIN TO UNDERSTAND WHAT 10:54:23 WENT SO TRAGICALLY WRONG ON THE DEEP WATER HORIZON. 10:54:28 WE'RE NOW 59 DAYS INTO THIS TRAGEDY AND OIL CONTINUES TO 10:54:34 GUSH INTO THE GULF OF MEXICO. THE ESTIMATES FOR HOW MUCH OIL 10:54:37 SPILLS INTO THE GULF EACH DAY CONTINUE TO RISE AND WE STILL 10:54:40 HAVE NO WAY TO CAP THE WELL IN THE NEAR FUTURE. 10:54:43 WE SIT HELPLESSLY AS WE WAIT FOR A RELIEF WELL TO BE COMPLETED. 10:54:47 AS THE DETAILS AND FACTS ABOUT DEEP WATER HORIZON COME TO LIGHT 10:54:52 IT IS CLEAR TO US ALL THAT THE DECISIONS MADE BY OFFICIALS AT 10:54:57 BP THAT REFLEKTDED BAD JUDGMENT AT BEST AND CRIMINAL NEMPS AT 10:55:01 WORST, THROUGH THIS COMMITTEE'S INVESTIGATION, WE'VE LEARNED 10:55:04 THAT AT NEARLY EVERY TURN, BP CUT CORNERS. 10:55:08 AND N WELL DESIGN, THE NUMBER OF CENTRALIZERS THEY USED, WHETHER 10:55:11 TO RUN A CEMENT BOND LOCK, CIRCULATING DRILLING MUDS AND 10:55:16 SECURING THE WELL HEAD WITH A LOCKDOWN SLEEVE, BP TOOK THE 10:55:20 PATH OF LEAST RESISTANCE. ON TUESDAY, COLLEAGUES AND 10:55:23 COMPETITIVES FROM THE OIL AND GAS INDUSTRY PROVIDED SWORN 10:55:29 TESTIMONY THAT THEY BELIEVED BP DELINQUENCIES IN WELL DESIGN AND 10:55:32 FAILED TO FOLLOW THE BEST PRACTICES OF THE INDUSTRY. 10:55:35 NOW WE LEARN THAT BP HAD SEVERAL WARNINGS ABOUT THE McCONDO WELL 10:55:39 WITH ONE OF THEIR OWN ENGINEERS CALLING IT A NIGHTMARE WELL. 10:55:42 BUT INSTEAD OF TREATING THE WELL WITH CAUTION IT SEEMS THAT BP'S 10:55:46 ONLY INTEREST WAS IN COMPLETING THE WELL QUICKLY AND CHEAPLY. 10:55:51 MANY QUESTIONS STILL NEED TO BE ANSWERED. 10:55:54 WERE BP EMPLOYEES ON THE DEEP WATER HORIZON GIVE ORDERS FROM 10:55:58 BP OFFICIALS TO SPEED UP THE McCONDO WELL? 10:56:00 WERE THEY TOLD TO SLASH COSTS WHEREVER POSSIBLE? 10:56:04 WHY WOULD A TEAM ON BOARD THE RIG TO TEST THE CEMENTING OF THE 10:56:09 WELL BE SENT HOME BEFORE PERFORMING THE TEST? 10:56:13 SURELY IF A CEMENT BOND LOCK WAS EVER NECESSARY, IT WOULD BE IN A 10:56:17 NIGHTMARE WELL SITUATION. BUT SENDING THE TEAM HOME, BP 10:56:22 SAVED $100,000 AND NINE OR TEN HOURS OF WORK. 10:56:25 MR. HAYWARD, I HOPE YOU'RE HERE TODAY TO ANSWER QUESTIONS ABOUT 10:56:29 THE DECISION MADE ON DEEP WATER HORIZON THAT LED TO THIS TRAGIC 10:56:32 AND DEADLY BLOWOUT. EARLIER THIS WEEK, THIS 10:56:37 COMMITTEE SENT YOU A LETTER WITH DETAILED INFORMATION ABOUT 10:56:39 TOPICS WE WOULD LIKE YOU TO ADDRESS TODAY. 10:56:42 IN REVIEWING YOUR STATEMENTS SUBMITTED FOR TODAY'S HEARING, 10:56:45 I'M EXTREMELY DISAPPOINTED IN YOUR AVOIDANCE OF THE REQUESTED 10:56:49 TOPICS. I CERTAINLY HOPE THAT YOU USE 10:56:52 THE OPPORTUNITY TODAY TO ANSWER OUR QUESTIONS OPENLY AND 10:56:58 TRUTHFULLY. I KNOW BP COMMITTED TO CLEAN UP 10:56:59 THE GULF REGION AND I EXPECT THAT COMMITMENT TO BE ONGOING. 10:57:02 I WELCOME YOUR PLEDGE TO PAY DAMPS THROUGH A $20 BILLION 10:57:07 ESCROW FUND BUT THAT'S JUST THE TIP OF THE ICEBERG. 10:57:10 REBUILDING THE PUBLIC'S TRUST IN YOUR COMPANY AND YOUR INDUSTRY 10:57:13 WILL TAKE YEARS AND MANY SERIOUS CHANGES IN THE WAY YOU DO 10:57:18 BUSINESS. WHEN YOU OPERATE ON OUR LAND AND 10:57:21 IN OUR WATERS, YOU'RE ONLY THERE BECAUSE THE PUBLIC'S TRUST HAS 10:57:26 ALLOWED YOU TO BE THERE. YOU VIOLATED THAT TRUST IN THE 10:57:29 WORST POSSIBLE WAY. MR. HAYWARD, I LOOK FORWARD TO 10:57:32 YOUR TESTIMONY. I LOOK FORWARD TO ANSWERS TO OUR 10:57:35 QUESTIONS AND YOUR ONGOING EFFORTS TO GAIN AMERICA'S TRUST. 10:57:38 MR. CHAIRMAN, I YIELD BACK. THANK YOU, MR. DOYLE. 10:57:44 MR. GRIFFITH FOR OPENING STATEMENTS. 10:57:46 THREE MINUTES, PLEASE. THANK YOU. 10:57:48 MR. CHAIRMAN AND RANKING MEMBER FOR CALLING THIS IMPORTANT 10:57:52 HEARING TODAY. MR. HAYWARD FOR TAKING TIME TO 10:57:55 COME BEFORE OUR SUBCOMMITTEE TO DISCUSS WHAT HAPPENED ON THE 10:57:58 DEEP WATER HORIZON. I KNOW THAT LIKE US, YOUR NUMBER 10:58:01 ONE PRIORITY IS STOPPING THE FLOW OF OIL. 10:58:06 CONGRESS AND THIS COMMITTEE OWE IT TO THE AMERICAN PEOPLE DO 10:58:09 WHATEVER WE CAN TO AID THE UNIFIED COMMAND IN REACHING THIS 10:58:12 GOAL. THIS IS A TIME FOR ENGINEERING 10:58:14 AND ACTION I HOPE YOU WILL LET US KNOW WHAT WE CAN DO IN 10:58:17 CONGRESS TO BE HELPFUL. THERE ARE STILL MANY QUESTIONS 10:58:19 TO BE ANSWERED ABOUT WHAT HAPPENED ON THE DEEP WATER 10:58:21 HORIZON AND UNFORTUNATELY WE DO KNOW THAT THE DOCUMENTS THAT 10:58:24 WE'RE REVIEWING IT DOES NOT LOOK GOOD. 10:58:28 MY HOPE FOR OUR HEARING TODAY IS THAT WE WILL BE ABLE TO PUT 10:58:31 POLITICAL PUBLIC RELATIONS SHENANIGANS ASIDE AND FOCUS 10:58:35 UNDERSTANDING WHY DECISIONS WERE MADE AND HOW BP AND THE INDUSTRY 10:58:38 CAN ENSURE THAT THEY LEARN FROM THIS INCIDENT SO THAT DRILLING 10:58:42 SAFELY FOR OUR VALUABLE RESOURCES CAN CONTINUE. 10:58:45 AND I MIGHT SAY THIS TO YOU, YOU'RE NEVER AS GOOD AS THEY SAY 10:58:50 YOU ARE OR AS BAD AS THEY SAY YOU ARE. 10:58:52 SO THIS HEARING WILL GO BACK AND FORTH. 10:58:54 THE OTHER THING I'D LIKE TO REMIND THE COMMITTEE IS THAT THE 10:59:00 GREATEST ENVIRONMENTAL DISASTER IN AMERICA HAS BEEN CIGARETTES.

The Oversight Subcommittee of the House Energy and Commerce committee meets to hear from Tony Hayward, the CEO of BP 10:02:03 BART STUPAK: THIS MEETING WILL COME TO 10:03:10 ORDER, WE'RE GOING TO ASK THE PRESS TO PLEASE CLEAR. 10:03:51 THIS HEARING OF THE SUBCOMMITTEE OF THE ENERGY AND 10:03:55 COMMERCE COMMITTEE, THE SUBCOMMITTEE ON OVERSIGHT 10:03:59 INVESTIGATIONS WILL COMMENCE OUR HEARING. 10:04:01 TODAY WE HAVE A HEARING TITLED BP'S ROLE IN THE DEEP WATER 10:04:11 HORIZON ENERGY SPILL. I WELCOME THE MEMBERS OF THE 10:04:16 ENERGY AND COMMERCE COMMITTEE AND THEY WILL BE ALLOWED TO 10:04:21 SUBMIT WRITTEN STATEMENTS FOR THE RECORD, BUT WILL NOT DELIVER 10:04:25 VERBAL OPENING STATEMENTS AND IN ADDITION MEMBERS WHO ARE NOT ON 10:04:34 THE SUBCOMMITTEE OR ON THE ENERGY AND COMMERCE COMMITTEE 10:04:38 ARE WILL BE TO OBSERVE, BUT THEY WILL NOT BE ALLOWED TO ASK 10:04:43 QUESTIONS DUE TO TIME CONSTRAINTS, THE CHAIRMAN, THE 10:04:47 RANKING MEMBER AND THE CHARITY EMERITUS WILL BE RECOGNIZED FOR 10:04:52 THREE MINUTE OPENING STATEMENTS. I WILL YIELD TO THE CHAIRMAN OF 10:05:01 THE FULL COMMITTEE MR. WAXMAN FOR THE FIRST OPENING STATEMENT. 10:05:05 THANK YOU VERY MUCH MR. CHAIRMAN, THANK YOU FOR HOLDING 10:05:09 THIS VERY IMPORTANT HEARING. AND MR. HAYWARD, THANK YOU FOR 10:05:12 BEING HERE TODAY. YESTERDAY BP PLEDGED TO 10:05:15 ESTABLISH A $20 BILLION ESCROW ACCOUNT AND TO SUSPEND ITS 10:05:20 DIVIDEND PAYMENTS FOR THE REST OF THE YEAR. 10:05:23 I'M SURE THESE WERE NOT EASY DECISIONS FOR YOU, BUT THEY WERE 10:05:26 THE RIGHT ONES AND I COMMEND YOU FOR THEM. 10:05:30 CONGRESS HAS MULTIPLE COMMITTEES EXAMINING THE GULF OIL SPILL, 10:05:34 SOME ARE EVALUATING THE IMPACT OF THE SPILL, SOME ARE WORKING 10:05:38 ON THE REORGANIZATION OF THE REGULATORY AGENCIES AND SOME 10:05:42 INCLUDING CHAIRMAN MARKEY'S SUBCOMMITTEE ARE DRAFTING 10:05:46 LEGISLATION TO REFORM OUR OIL EXPLORATION LAWS. 10:05:50 YOU ARE TESTIFYING TODAY BEFORE THE OVERSIGHT AND INVESTIGATION 10:05:55 SUBCOMMITTEE AND THIS SUBCOMMITTEE HAS A SPECIAL ROLE. 10:05:59 SO EXAMINE THE FACTS AND DETERMINE WHAT WENT WRONG AND TO 10:06:02 MAKE RECOMMENDATIONS TO PREVENT FUTURE SPILLS. 10:06:06 WHEN IT'S TIME FOR QUESTIONING, I AND OTHER MEMBERS OF THE 10:06:09 SUBCOMMITTEE WILL ASK YOU ABOUT A SERIES OF INTERNAL BP 10:06:12 DOCUMENTS. THEY APPEAR TO SHOW THAT BP 10:06:18 REPEATEDLY TOOK SHORTCUTS THAT ENDANGERED LIVES AND INCREASED 10:06:22 THE RISKS OF A CATASTROPHIC BLOWOUT. 10:06:26 AND I SENT YOU A LETTER IN ADVANCE INDICATING THAT WE'RE 10:06:29 GOING TO QUESTION YOU ABOUT THOSE ISSUES. 10:06:32 BUT WHAT IS EQUALLY IMPORTANT IS WHAT IS MISSING FROM THE 10:06:34 DOCUMENTS. WHEN YOU BECAME CEO OF BP, YOU 10:06:41 PROMISED TO FOCUS LIKE A LASER ON SAFE AND RELIABLE OPERATIONS. 10:06:45 WE WANTED TO KNOW WHAT YOU HAD DONE TO KEEP THIS PROMISE. 10:06:49 SO WE ASKED WHAT E-MAILS YOU HAD RECEIVED, WHAT DOCUMENTS YOU HAD 10:06:53 REVIEWED. ABOUT THE DEEP WATER HORIZON RIG 10:07:00 OR TO THE McCONDO WELL BEFORE THE BLOWOUT. 10:07:03 DEEP WATER DRILLING IS INHERENTLY DANGEROUS, AS THE 10:07:09 ENTIRE COUNTRY NOW KNOWSES, AN UNCONTROLLED BLOWOUT CAN KILL 10:07:15 RIG WORKERS AND CAUSE AN ENVIRONMENTAL DISASTER. 10:07:18 WE WANT TO KNOW IF YOU WERE BRIEFED BE THE RISKS AND WERE 10:07:22 MONITORING THE SAFETY OF THE DRILLING OPERATION. 10:07:27 WE CAN FIND NO EVIDENCE THAT YOU PAID ANY ATTENTION TO THE 10:07:30 TREMENDOUS RISKS BP WAS TAKING. WE HAVE REVIEWED 30,000 PAGES OF 10:07:38 DOCUMENTS FROM BP INCLUDING YOUR E-MAILS, THERE IS NOT A SINGLE 10:07:44 E-MAIL OR DOCUMENT THAT SHOWS YOU PAID EVEN THE SLIGHTEST 10:07:47 ATTENTION TO THE DANGERS AT THIS WELL. 10:07:49 YOU ARE THE CEO. SO WE CONSIDER THE POSSIBILITY 10:07:51 THAT YOU MAY HAVE DELEGATED THE OVERSIGHT RESPONSIBILITY TO 10:07:59 SOMEONE ELSE WE REVIEWED THE EMAILS AND BELIEVING DOCUMENTS 10:08:04 RECEIVED BY THE CHIEF EXECUTIVE FOR EXPLORATION AND PRODUCTION 10:08:09 AND DOUG SUTTLES, THE CHIEF OPERATING OFFICER FOR 10:08:17 PRODUCTION. ACCORDING TO BP, THESE ARE THE 10:08:25 SENIOR OFFICIALS RESPONSIBLE FOR THE McCONDO WELL, BUT THEY TOO 10:08:31 WERE APPARENTLY BLIVIOUS TO WHAT WAS HAPPENING. 10:08:37 WE CAN SEE NO E-MAILS OR DEBRIEFINGS ABOUT THE DEEP WATER 10:08:44 HORIZON. BP'S CORPORATE COMPLACENCY IS 10:08:50 ASTONISHING, THE DRILLING ENGINE FOR THE RIG, CALLED McCONDO, A 10:08:56 NIGHTMARE WELL. OTHER BP EMPLOYEES PREDICTED 10:08:59 THAT THE CEMENT JOB WOULD FAIL. HALLIBURTON WARNED OF A SEVERE 10:09:03 GAS FLOW PROBLEM. THESE WARNINGS FELL ON DEAF 10:09:08 EARS. BP'S CORPORATE ATTITUDE MAY BEST 10:09:11 BE SUMMED UP IN AN E-MAIL FROM HIS OPERATIONS DRILLING ENGINEER 10:09:16 WHO OVERSAW BP'S TEAM OF DRILLING ENGINEERS. 10:09:21 AFTER LEARNING OF THE RISKS AND BP'S DECISION TO IGNORE THEM, HE 10:09:26 WROTE, QUOTE, WHO CARES? IT'S DONE, END OF STORY, WE'LL 10:09:30 PROBABLY BE FINED, END QUOTE. THERE IS A COMPLETE 10:09:37 CONTRADICTION BETWEEN BP'S WORDS AND DEEDS. 10:09:39 YOU WERE BROUGHT IN TO MAKE SAFETY THE TOP PRIORITY OF BP, 10:09:44 BUT UNDER YOUR LEADERSHIP, BP HAS TAKEN THE MOST EXTREME 10:09:50 RISKS. BP CUT CORNER AFTER CORNER TO 10:09:53 SAVE A MILLION DOLLARS HERE A FEW HOURS OR DAYS THERE AND NOW 10:09:57 THE WHOLE GULF COAST IS PAYING THE PRICE. 10:10:00 TODAY'S HEARING WILL FOCUS ON BP'S ACTIONS, BUT WE LEARNED 10:10:04 FROM OUR HEARING EARLIER THIS WEEK THAT THE OTHER OIL 10:10:07 COMPANIES ARE JUST AS UNPREPARED TO DEAL WITH A MASSIVE SPILL AS 10:10:10 BP. WE ARE SEE IN THE OIL INDUSTRY 10:10:16 THE SAME CORPORATE INDIFFERENCE TO RISK THAT CAUSED THE COME 10:10:18 LANCE ON WALL STREET. AND THAT IS WHY REFORM IS SO 10:10:24 URGENTLY NEEDED, PART OF THIS REFORM MUST BE LEGISLATION TO 10:10:28 PUT TEETH INTO OUR REGULATORY SYSTEM BUT PART MUST ALSO BE A 10:10:33 TRANSITION TO A CLEAN ENERGY ECONOMY. 10:10:36 WE'RE ADDICTED TO OIL, THIS ADDICTION IS FOULING OUR 10:10:40 BEACHES, POLLUTING OUR ATMOSPHERE AND UNDERMINING OUR 10:10:42 NATIONAL SECURITY. WE CAN'T SNAP OUR FINGERS OR 10:10:49 TRANSFORM OUR ENERGY ECONOMY OVERNIGHT, BUT WE NEED TO START 10:10:52 DOWN A PATH TO A CLEAN ENERGY FUTURE. 10:10:55 MR. CHAIRMAN, I LOOK FORWARD TO TODAY'S HEARING AND MR. HAYWARD 10:11:00 I THANK YOU FOR APPEARING AND COOPERATING WITH OUR 10:11:04 INVESTIGATION. NEXT GO TO THE FULL COMMITTEE 10:11:08 REMEMBER BART STUPAK OF TEXAS. THANK YOU, MR. CHAIRMAN, 10:11:15 THANK YOU MR. HAYWARD FOR APPEARING BEFORE US. 10:11:19 WE HAVE KIND OF A DUAL TRACK UNDERWAY IN MY OPINION. 10:11:25 WE OBVIOUSLY ARE TRYING TO GATHER THE FACTS, WHAT HAPPENED 10:11:27 IN THE OIL SPILL IN THE GULF OF MEXICO A MONTH AND A HALF AGO, 10:11:35 TRYING TO FIND OUT THE CLOSE. WE HAVE A SYSTEM BUILT UP BASED 10:11:58 ON THE BRITISH TRADITION OVER 200 YEARS OF DUE PROCESS AND 10:12:02 FAIRNESS WHERE PEOPLE THAT DO BAD THINGS OR IN THIS CASE A 10:12:08 CORPORATION THAT'S RESPONSIBLE FOR A BAD ACCIDENT, WE WANT TO 10:12:13 HOLD THEM RESPONSIBLE, DO WHAT WE CAN TO MAKE THE LIABLE 10:12:16 PARTIES PAY FOR THE DAMAGES. MR. STUPAK AND MR. WAXMAN ARE 10:12:20 DOING AN EXCELLENT JOB WORKING WITH DR. BURR NEGLIGENCE AND 10:12:27 MYSELF IN CONDUCTING I THINK A FAIR OVERSIGHT 10:12:30 INVESTIGATION. BOAR GOING TO GET INTO A NUMBER 10:12:38 OF THOSE ISSUES. I'M SPEAKING TOTALLY FOR MYSELF, 10:12:42 I'M NOT SPEAKING FOR THE REPUBLICAN PARTY, I'M NOT 10:12:45 SPEAKING FOR ANYBODY IN THE HOUSE OF REPRESENTATIVES BUT 10:12:46 MYSELF. BUT I'M ASHAMED OF WHAT HAPPENED 10:12:51 IN THE WHITE HOUSE YESTERDAY. I THINK IT IS A TRAGEDY IN THE 10:13:04 FIRKS PROPORTION THAT I WOULD CHARACTERIZE AS A SHAKEDOWN, IN 10:13:11 THIS CASE A $20 BILLION SHAKEDOWN, WITH THE ATTORNEY 10:13:16 GENERAL OF THE UNITED STATES WHO IS CONDUCTING A CRIMINAL 10:13:19 INVESTIGATION AND HAS EVERY RIGHT TO DO THAT TO PROTECT THE 10:13:25 AMERICAN PEOPLE. PARTICIPATING IN WHAT AMOUNTS TO 10:13:30 A $20 MILLION SLUSH FUND WHICH I THINK SET ASTER RIBL PRECEDENT 10:13:35 FOR THE FUTURE. IF I CALLED YOU INTO MY OFFICE. 10:13:41 AVSHTD AND I HAD THE SUBCOMMITTEE CHAIRMAN MR. STUPAK 10:13:45 WITH ME WHO WAS LEGITIMATELY SUBJECTING AN OVERSIGHT 10:13:49 INVESTIGATION ON YOUR COMPANY AND SAID IF YOU PUT SO MANY 10:13:53 MILLIONS OF DOLLARS IN A PROJECT IN MY CONSTITUTIONAL DISTRICT I 10:14:02 COULD GO TO JAIL AND SHOULD GO TO JAIL. 10:14:09 NO THERE IS NO QUESTION THAT BRITISH PETROLEUM OWNS THIS K 10:14:21 LEAK, THAT BP MADE DECISIONS THAT PEOPLE MAY QUESTION. 10:14:27 THERE IS NO QUESTION THAT BP IS LIABLE FOR THE DAMAGES, BUT WE 10:14:31 HAVE A DUE PROCESS SYSTEM WHERE WE GO THROUGH HEARINGS, IN SOME 10:14:36 CASES COURT CASES, LITIGATION AND DETERMINE WHAT THOSE DAMAGES 10:14:38 ARE AND WHEN THOSE DAMAGES SHOULD BE PAID. 10:14:45 SO I'M ONLY SPEAKING FOR MYSELF, I'M NOT SPEAKING FOR ANYBODY 10:14:52 ELSE, BUT I APOLOGIZE, I DO NOT WANT TO LIVE IN A COMPANY WHERE 10:14:56 ANY TIME A CITIZEN FOR A CORPORATION DOES SOMETHING THAT 10:14:59 IS LEGITIMATELY WRONG IS SUBJECT TO SOME SORT OF POLITICAL 10:15:08 PRESSURE THAT IS AGAIN IN MY WORDS AMOUNTS TO SHAKEDOWN. 10:15:10 SO I APOLOGIZE. SO ON THIS HEARING TODAY, I AM 10:15:17 WITH MR. WAXMAN, WITH MR. STUPAK, THERE ARE QUESTIONS THAT 10:15:23 NEED TO BE ASKED THAT ARE LEGITIMATE BECAUSE WE DON'T WANT 10:15:27 ANOTHER OIL SPILL OF THIS MAGNITUDE OR OF ANY MAGNITUDE IN 10:15:32 THE GULF OF MEXICO AND IF THIS SUBCOMMITTEE CAN DO THINGS THAT 10:15:37 MAKE IT MUCH MORE DIFFICULT FOR THIS TYPE OF AN INCIDENT TO 10:15:40 OCCUR IN THE FUTURE, THEN WE WILL HAVE DONE OUR WORK FOR THE 10:15:42 AMERICAN PEOPLE. WITH THAT, MR. CHAIRMAN, I YIELD 10:15:47 BACK. TODAY IS THE 59th DAY OF THE 10:15:57 BP OIL SPILL THAT HAS DEVASTATED MUCH OF THE GULF OF MEXICO. 10:15:59 11 MEN LOST THEIR LIVES THE DAY THE DEEP WATER HORIZON DRILLING 10:16:04 RIG EXPLODED AND IN THE 59 DAYS THAT HAVE FOLLOWED, COUNTLESS 10:16:10 PEOPLE HAVE LOST THEIR LIVELIHOOD AS THE OIL POLLUTES 10:16:16 FISHING GROUNDS AND DAMAGES THE BEACHES OF THE UNITED STATES. 10:16:22 OUR FIRST HEARING EXPOSED PROBLEMS DISCOVERED WITH THE 10:16:26 BLOWOUT PREVENTSER AND SEVERAL OTHER FACTORS THAT CONTRIBUTED 10:16:31 TO THE DISASTER. OUR SECOND HEARING WAS A FIELD 10:16:37 HEARING IN NEW ORLEANS WHERE WE HEARD FROM THE WIDOWS OF TWO 10:16:41 WOMEN WHOSE HUSBANDS DIED IN THE DEEP WATER HORIZON. 10:16:54 WE HAVE BEEN SITTING THROUGH MORE THAN 50 HOURS OF BRIEFINGS 10:16:58 OF CORPORATE, GOVERNMENTAL EXPERTS TO DETERMINE WHAT WENT 10:17:02 WRONG WITH EXPLORATION OF THE McCONDO WELL. 10:17:05 WE HAVE REVIEWED SEVERAL QUESTIONABLE DECISIONS MADE BY 10:17:09 BP IN THE DAYS AND HOURS LEADING UP TO THE EXPLOSION AND WHAT WE 10:17:13 HAVE LEARNED SO FAR IS ALARMING. WE HAVE LEARNED THAT TIME AFTER 10:17:17 TIME, BP HAD WARNING SIGNS THAT THIS WAS AS ONE EMPLOYEE PUT IT 10:17:23 A NIGHTMARE WELL. FOR EXAMPLE, BP DISREGARDED 10:17:31 QUESTIONABLE RESULTS FROM PRESSURE TESTS AFTER CEMENTS IN 10:17:34 THE WELL. BP SELECTED THE RISKIER OF TWO 10:17:38 OPTIONS FOR THEIR WELL DESIGN. THEY COULD HAVE HUNG A LINER 10:17:41 FROM THE LOWER END OF THE CASING ALREADY IN THE WELL AND INSTALL 10:17:44 A TIE BACK ON THE TOP OF THE LINER WHICH WOULD HAVE PROVIDED 10:17:48 ADDITIONAL BARRIERS TO THE RELEASE OF HYDROCARBONS, INSTEAD 10:17:53 THEY LOWERED A FULL STRING OF THE NEW CASING WHICH TOOK LESS 10:17:59 TIME AND COST LESS BUT DID NOT PROVIDE THE SAME PROTECTION OF 10:18:04 ESCAPING HYDROCARBONS. BP WAS WARNED BY HALLIBURTON 10:18:13 COULD HAVE A BIG PROBLEM IF THEY -- BP REJECTED 10:18:20 HALLIBURTON'S ADVICE TO USED ADDITIONAL CENTRALIZERS IN AN 10:18:25 E-MAIL ON APRIL 16. A BP OFFICIAL INVOLVED IN THE 10:18:28 DECISION EXPLAINED AND I QUOTE, IT WILL TAKE TEN HOURS TO 10:18:32 INSTALL THEM, I DON'T LIKE THIS. BP CHOSE NOT TO FULLY CIRCULATE 10:18:36 THE MUD IN THE WELL FROM THE BOTTOM TO THE TOP, WHICH WAS AN 10:18:40 INDUSTRY RECOMMENDED BEST PRACTICE THAT WOULD HAVE ALLOWED 10:18:44 THEM TO TEST FOR GAS IN THE MUD. BP CHOSE NOT TO USE A CASING 10:18:49 HANGAR LOCKDOWN SLEEVE WHICH WOULD HAVE PROVIDED EXTRA 10:18:52 PROTECTION AGAINST A BLOWOUT FROM BELOW. 10:18:54 THESE ARE JUST A FEW OF THE ISSUES THAT LED TO THE DISASTER. 10:18:59 ONCE DEEP WATER HORIZON EXPLODED AND SAN TO BE THE BOTTOM OF THE 10:19:07 SEA, BP'S DECISION TO CLEAN UP THE SPILL WAS EQUALLY AS POOR. 10:19:14 THEY ISSUED ESTIMATES WHICH MAY HAVE LED TO A SCALED BACK 10:19:17 RESPONSE. WE DISCOVERED THAT BP'S OIL 10:19:20 SPILL RESPONSE PLAN WAS VIRTUALLY IDENTICAL TO OTHER OIL 10:19:25 COMPANIES' PLANS, IN A HEARING TUESDAY, EXXONMOBIL CEO REX 10:19:31 TILLERSON SAID THAT ONCE THE SPILLS OCCUR, WE'RE NOT EQUIPPED 10:19:36 TO HANDLE THEM, END QUOTE. OUR WITNESS TODAY MR. TONY 10:19:44 HAYWARD IS A CHIEF EXECUTIVE OFFICER OF BP, SHORTLY AFTER MR. 10:19:48 HAYWARD TOOK OVER AS THE CEO IN 2007, HE HELD A TOWN HALL 10:19:52 MEETING WITH EMPLOYEES IN HOUSTON THAT. 10:19:55 MEETING HE DISCUSSED THE NEED FOR BP TO BE A LEADER WITH FEWER 10:19:59 PEOPLE IN DECISION MAKING PROCESS. 10:20:01 THIS ARTICLE AND I ASK YOU TO PUT UP THE GUARDIAN ARTICLE. 10:20:06 IN AN ARTICLE FROM SEPTEMBER 2007, GUARDIAN NEWSPAPER, 10:20:12 HAYWARD SAYS OIL COMPANY HAS BECOME TOO CAUTIOUS, ASSURANCE 10:20:15 IS KILLING US, MR. HAYWARD TOLD U.S. STAFF NOTING THAT TOO MANY 10:20:21 PEOPLE WERE ENGAGED IN DECISION MAKING LEADING TO EXCESSIVE 10:20:25 CAUTIOUSNESS SOMETHING THAT CRITICS OF ITS SAFETY 10:20:27 PERFORMANCE IN THE U.S. MIGHT QUESTION. 10:20:29 LET ME PUT UP THESE OTHER NOTES FROM THE SAME MEETING. 10:20:32 WE RECEIVED NOTES FROM BP OF EMPLOYEES AND THEIR NOTE TAKING 10:20:36 FROM THIS MEETING. THE EMPLOYEE NOTES SUMMIT RISED 10:20:40 MR. HAYWARD'S STATEMENTS AS FOLLOWS. 10:20:42 I DON'T THINK HAVING ALL THESE LAYERS OF ASSURANCE REDUCES 10:20:48 RISKS AND IT CAN ACTUALLY INCREASE IT. 10:20:51 INDIVIDUALS NEED TO BE ACCOUNTABLE FOR RISK AND TO 10:20:54 MANAGE IT, END OF QUOTE. I FIND THIS CAVALIER ATTITUDE 10:20:58 TOWARD ASSESSING RISK UNBELIEVABLE, GIVEN THE FACT 10:21:01 THAT AT THE TIME OF THESE STATEMENTS, BP HAD JUST BEEN 10:21:04 RESPONSIBLE FOR THE LARGEST OIL LEAK IN ALASKA HISTORY ON THE 10:21:07 NORTH SLOPE AS WELL AS THE 2005 TEXAS CITY REFINERY EXPLOSION 10:21:13 WHICH KILLED 50 WORKERS AND INJURED ANOTHER 170. 10:21:16 I MUST ASK MR. HAYWARD WHETHER IT WAS WISE TO ADOPT THIS LEANER 10:21:22 DECISION-MAKING PROCESS WITH INPUT FROM FEWER PEOPLE AND A 10:21:24 NEW APPROACH TO MANAGING RISK. UNDER THE LEADERSHIP OF THE 10:21:30 FORMER CHAIRMAN OF BP AMERICA, BP CREATED AN INDEPENDENT OFFICE 10:21:36 OF THE OMBUDSMAN. THE OMBUDSMAN OFFICE WAS 10:21:39 ESTABLISHED BECAUSE LINE WORKERS REPORTED FEARING RETALIATION IF 10:21:43 THEY REPORTED SAFETY CONCERNS TO MANAGEMENT. 10:21:46 WHEN THE CURRENT CHAIRMAN AND PRESIDENT LAMAR McKAY TOOK OVER, 10:21:49 I MET WITH HIM AND HE SUGGESTED THAT HE HOPED TO IMPROVE THE 10:21:53 CULTURE ENOUGH TO MAKE THE OMBUDSMAN OFFICE UNNECESSARY SO 10:21:58 HE COULD SHUT IT DOWN. I URGED HIM NOT TO ELIMINATE THE 10:22:01 OFFICE BECAUSE IT SERVES A SIGNIFICANT ROLE IN 10:22:04 INVESTIGATING EMPLOYEE COMPLAINTS. 10:22:06 I'M MORE CONCERNED THAN EVER ABOUT BP'S SAFETY AND THE ROLE 10:22:09 THEY TAKE IN ASSUMING RISK. I'M CONCERNED THAT THE CORPORATE 10:22:18 CULTURE, THE CHAIRMAN OF PRESIDENT OF LAMAR McKAY THAT 10:22:24 THERE'S A WILLINGNESS TO CUT COSTS AND TAKE GREATER RISKS, I 10:22:29 LOOK FORWARD TO HEARING THE ANSWERS OF MR. HAYWARD OUR MANY 10:22:33 HARD HITTING COMMITTEE MEMBER ALSO HEAR TODAY. 10:22:36 I HOPE WE WILL HEAR HONEST, CONTRITE AND SUBSTANTIVE 10:22:41 ANSWERS. MR. HAYWARD, YOU OWE IT TO ALL 10:22:45 AMERICANS, FOR THE AMERICANS WHO LIVE AND WORK ON THE GULF COAST, 10:22:48 IT MAY BE YEARS BEFORE THEY GET THEIR LIVES BACK, FOR THE 10:22:51 AMERICANS WHO LOST THEIR LIVES ON THE RIGS, THEIR FAMILIES MAY 10:22:54 NEVER GET THEIR LIVES BACK. MR. HAYWARD, I'M SURE YOU WILL 10:22:57 GET YOUR LIFE BACK AND WITH A GOLDEN PARACHUTE BACK TO 10:23:02 ENGLAND. BUT WE IN AMERICA ARE LEFT WITH 10:23:05 A TERRIBLE CONSEQUENCES OF BP'S RECKLESS DISREGARD FOR SAFETY. 10:23:12 I YIELD BACK MY TIME. TODAY IT DOES OPEN OUR THIRD 10:23:20 HEARING AND A VERY CRITICAL HEARING IN THE DEEP WATER 10:23:32 HORIZON OIL SPILL. THIS HEARING PROVIDES THE 10:23:36 SUBCOMMITTEE WITH AN IMPORTANT OPPORTUNITY TO DIRECTLY QUESTION 10:23:39 THE MAN WHO ULTIMATELY LEADS BP, MR. TONY HAYWARD AND BP'S ROLE 10:23:44 HAS BEEN CENTRAL TO THE CAUSES OF THE INCIDENT AND TO THE 10:23:47 RESPONSE OVER THE COURSE OF OUR INQUIRY TODAY, COMMITTEE 10:23:51 INVESTIGATORS WORKING IN A BY PARTISAN FASHION HAVE CONDUCTED 10:23:56 NUMEROUS INTERVIEWS AND BRIEFINGS AND REVIEWED TENS OF 10:23:59 THOUSANDS OF PAGES OF DOCUMENTS, OUR SUBCOMMITTEE HAS DONE AN 10:24:04 EXCELLENT JOB AND THIS SUB COMMITTEE HAS BEEN FOCUSED ON 10:24:07 GATHERING THE FACTS RATHER THAN RUSHING TO JUDGMENT. 10:24:09 AND FROM THIS INTENSIVE EFFORT WE HAVE BEGUN TO HAVE A SERIES 10:24:16 OF QUESTIONS, EXPLORING THESE AND RELATED QUESTIONS TODAY WILL 10:24:20 HELP US IDENTIFY FOR CONGRESS AND IDENTIFY FOR THE COUNTRY 10:24:24 WHAT WENT WRONG ON APRIL 20th AND THE DAYS THEREAFTER, AND 10:24:27 WHILE WE ARE INVESTIGATING, A PICTURE OF THE CHAIN OF EVENTS 10:24:30 LEADING TO THIS INCIDENT IS EMERGING. 10:24:33 MR. CHAIRMAN, YOU AND CHAIRMAN WAXMAN RECENTLY OUTLINED SOME 10:24:37 CRITICAL QUESTIONS THAT WE HOPE MR. HAYWARD WILL ADDRESS, FOR 10:24:41 EXAMPLE YOU NOTED THE INVESTIGATION HAS IDENTIFIED 10:24:44 QUESTIONABLE CHOICES BY BP ENGINEERS TO USE A PARTICULAR 10:24:47 WELL DESIGN OVER ANOTHER ONE THAT WOULD APPEAR TO HAVE 10:24:51 PROVIDED MORE BUILT IN BARRIERS TO AN UNCRIMINALED GADDIS 10:24:53 CHARGE. THERE WAS THE CHOICE MADE BY BP 10:24:57 TO MOVE FORWARD WITH WHAT APPEARS TO BE AN INADEQUATE 10:25:02 CEMENTING PLAN AND THE RELATED FAILURE DESPITE CLEAR WARNINGS 10:25:06 TO TEST THAT THE CEMENT WAS PROPERLY IN PLACE. 10:25:08 AND IT APPEARS THERE MAY HAVE BEEN A RUSH TO MOVE OFF THIS 10:25:12 WELL, WHETHER THERE MAY HAVE BEEN ECONOMIC OR OTHER TIME AND 10:25:16 PERFORMANCE MEASURES OR SOME COMBINATION THEREOF, IT IS NOT 10:25:21 CLEAR BURKS THAT CLARITY NEEDS TO EMERGE TODAY. 10:25:24 THE QUESTION OUTLINED IN THE CENTRAL ROLE OF BP'S DECISION 10:25:27 MAKING APPEARS THAT BP'S DECISION MAKING APPEARS TO HAVE 10:25:30 HAD IN THIS INCIDENT. WE NEED TO UNDERSTAND THAT 10:25:34 DECISION MAKING, MR. HAYWARD. WHAT FACTORS INFLUENCED IT, 10:25:38 WHETHER THE DECISIONS REFLECTED A MANAGEMENT AND AN OPERATIONAL 10:25:42 MIND SET THAT FAILED, FAILED TO MAXIMIZE SAFETY IN A CHALLENGING 10:25:45 DEEP SEA ENVIRONMENT. IT IS IMPORTANT TO NOTE THAT THE 10:25:49 PICTURE DEVELOPING FROM THIS INVESTIGATION IS NOT ONE OF 10:25:53 TECHNOLOGICAL LIMITS IN DEEP SEA DRILLING, THE CONSTRUCTION OF AN 10:25:58 18,000-FOOT WELL WAS NOT PUSHING THE ENVELOPE OF ENGINEERING KNOW 10:26:01 HOW SO FAR AS WE IDENTIFIED, BUT THE PICTURE DEVELOPING IS ONE OF 10:26:06 UNSAFE INDUSTRY PRACTICES, ALTHOUGH CLEARER MORE FOCUSEDED 10:26:11 INDUSTRY STANDARDS MAY BE ABLE GOING FORWARD, THE BEST INDUSTRY 10:26:16 PRACTICE WOULD HAVE RESULTED IN MORE CAUTIOUS DESIGNS AND MORE 10:26:21 TESTING, MORE SAFEGUARDS AND ULTIMATELY NO LOSS OF CONTROL OF 10:26:24 THE WELL. RATHER AND QUITE CLEARLY THE 10:26:29 PICTURE IS QUESTIONING DECISION MAKING BY PEOPLE CHARGED WITH 10:26:32 DESIGNING AND SUCCESSFULLY DRILLING, AND CONTROLLING A WELL 10:26:37 THAT IS A MILE UNDER WATER. IT IS A SERIES OF CHOICES WHICH 10:26:41 TAKEN TOGETHER CREATED AN OIL WELL PARTICULARLY VULNERABLE TO 10:26:44 A BLOWOUT AND OF ALL THE PEOPLE WHO MAY HAVE BEEN DISTRACTED, 10:26:48 UNAWARE OR RESISTANT TO RECOGNIZING THE PROBLEMS AROUND 10:26:52 THEM. DOCUMENTS SHOW THAT BP WAS 10:26:54 PREPARED TO RUN A TEST ON THE QUALITY OF THE CEMENT SHOT, BUT 10:26:58 CHOSE NOT TO. I CAN'T UNDERSTAND WHY GIVEN THE 10:27:01 HISTORY OF THIS PARTICULAR WELL WITH FOUR PREVIOUS WELL 10:27:04 CONTROLLED INCIDENTS IN THE TWO MONTHS PRY YOU TO APRIL 20. 10:27:08 THE RIG PERSONNEL APPEAR TO HAVE TAKEN THEIR EYE OFF THE BALL. 10:27:13 BP EMPLOYEES WERE THE KEY D 10:27:18 DECISION MAKERS. CERTAINLY OTHERS MAY HAVE 10:27:21 CONTRIBUTED TO THIS INCIDENT. THE OVERALL EFFECTIVENESS OF THE 10:27:28 RESPONSE AND THE EFFORT TO HELP THOSE HARMED BY THE INCIDENT IS 10:27:34 SOMETHING WE MUST -- BUT IT IS BP'S DECISION MAKING ABOUT THE 10:27:37 WELL DESIGN, THE CEMENTING PROGRAM, THE PREPARATION, THE 10:27:44 INTEGRITY TESTS OR JUST THE GENERAL LACK OF CURIOSITY AS TO 10:27:47 WHY THESE WOULD BE NECESSARY T FAILURE TO FOLLOW BEST PRACTICES 10:27:51 THAT OUR INVESTIGATION TO DATE IS SHOWING WERE CRITICAL FACTORS 10:27:55 IN THIS INCIDENT. BUT THIS DECISION MAKING IS 10:27:58 DIFFICULT TO SQUARE WITH THE PRIORITIES OF BP'S CHIEF 10:28:04 EXECUTIVE. BEFORE YOU BECAME CHIEF 10:28:05 EXECUTIVE YOU DESCRIBED OUT THE DEPTH OF A WORKER SHAPED YOUR 10:28:10 OPINIONS, YOU SAID AND I'M QUOTING, I WENT TO THE FUNERAL 10:28:13 TO PAY MY RESPECTS. AT THE END OF THE SERVICE, HIS 10:28:17 MOTHER CAME UP TO ME AND BEAT ME ON THE CHEST, WHY DID YOU LET IT 10:28:21 HAPPEN, SHE ASKED. IT CHANGED THE WAY I THINK ABOUT 10:28:24 SAFETY. LEADERS MUST MAKE SAFETY OF ALL 10:28:26 WHO WORK FOR THEM A PRIORITY, END QUOTE. 10:28:29 MR. HAYWARD, I RESPECTFULLY REQUEST THAT YOU ANSWER THIS 10:28:33 QUESTION IN YOUR OPENING STATEMENT IF NOT FOR ME, THEN 10:28:35 FOR THE TWO LADIES WHO TESTIFIED BEFORE OUR COMMITTEE ON THE 10:28:38 FIELD HEARING WHO LOST THEIR HUSBANDS ON THE DEEP WATER 10:28:44 HORIZON. YOU HAVE BEEN CHIEF EXECUTIVE 10:28:46 SINCE 2007, YOU SAID SAFETY IS YOUR NUMBER ONE PRIORITY AND YOU 10:28:53 WOULD FOCUS LIKE A LASER BEAM ON SAFETY. 10:28:56 WE HAVE NOW LEARNED FROM THIS INVESTIGATION THAT BP EMPLOYEES 10:29:00 MADE FIVE CRITICAL DECISIONS THAT MAY HAVE CONTRIBUTED TO 10:29:04 WELL FAILURE WHERE WELL SAFETY WAS TRADED OFF. 10:29:06 IN FACT IT WAS NOT THE PRIORITY. SO TODAY, WILL YOU ASSERT BEFORE 10:29:10 THIS SUBCOMMITTEE THAT ALL DECISIONS BY BP EMPLOYEES 10:29:13 RELATED TO THE DEEP WATER HORIZON REFLECTED YOUR PRIORITY, 10:29:17 YOUR PRIORITY OF SAFETY FIRST. MR. CHAIRMAN, THE DISASTER IN 10:29:24 THE GULF OF MEXICO SHOWS A SERIES OF UNCHECKED BAD 10:29:27 DECISIONS, WE IN CONGRESS AND THE FEDERAL GOVERNMENT MUST ALSO 10:29:31 BE MINDFUL OF THE CONSEQUENCES OF BAD DECISION MAKING. 10:29:35 THE SUBCOMMITTEE HEARD SOME OF THE ADMINISTRATION'S DECISIONS 10:29:38 ARE THREATENING THE LIVELIHOODS OF WORKERS AND FAMILIES WHO 10:29:42 DEPEND UPON THE ENERGY INDUSTRY. WE HAVE KILLED HALF OF THEIR 10:29:45 FISHING WITH THE DEEP WATER HORIZON SPILL AND IT LOOKS LIKE 10:29:48 WE'RE GOING TO KILL THE OTHER HALF OF THEIR COMMITTEE WITH OUR 10:29:54 MORATORIUM. OUR HEARING TODAY LOOKS AT THE 10:29:56 CONSEQUENCES OF BAD DECISIONS AND THE LESSONS LEARNED, MAY WE 10:29:59 HAVE THE WISDOM AND HUMILITY TO TAKE SOME OF THOSE LESSONS AND 10:30:03 APPLY THEM TO OURSELVES? AND I YOOELTD YIELD BACK THE 10:30:08 BALANCE OF MY TIME. I WOULD LIKE TO TURN TO 10:30:10 CHAIRMAN OF THE ENERGY AND ENVIRONMENT SUBCOMMITTEE AND 10:30:12 CHAIRMAN OF THE SUBCOMMITTEE ON CLIMATE MR. MARKEY, FIVE MINUTES 10:30:19 FOR AN OPENING STATEMENT. THANK YOU, MR. CHAIRMAN, VERY 10:30:24 MUCH. I WANT TO BEGIN BY DISAGREES IN 10:30:26 THE STRONGEST POSSIBLE TERMS WITH WHAT MR. BARTON SAID IN HIS 10:30:34 OPENING STATEMENT. NOT ONLY IS THE COMPENSATION 10:30:38 FUND THAT WAS CREATED YESTERDAY AT THE WHITE HOUSE IN AN 10:30:48 AGREEMENT REACHED BY PRESIDENT OBAMA, NOT A SLUSH FUND AND NOT 10:30:53 A SHAKEUP, RATHER IT WAS THE GOVERNMENT OF THE UNITED STATES 10:31:00 WORKING TO PROTECT THE MOST VULNERABLE CITIZENS THAT WE HAVE 10:31:04 IN OUR COUNTRY RIGHT NOW. # WE CANNOT WAIT AS 10:31:29 INFORTUNATELY SO MANY CITIZENS WHO WERE VICTIMS OF THE "EXXON 10:31:35 VALDEZ" SPILL HAD TO WAIT YEARS IN ORDER TO SEE THOSE FAMILIES 10:31:38 COMPENSATED. WE CAN'T LOSE SIGHT OF THE FACT 10:31:47 THAT THE 1984 BOPAUL DISASTER AND THE LAWSUITS THAT WERE 10:31:54 RELATED TO IT WERE ONLY SETTLED LAST WEEK. 10:32:32 AFTER EXAMINING THE DOCUMENTS BP GAVE THE FAMILY $5,000. 10:32:40 THE FAMILIES IN THE GULF WILL BE CRUSHED FINANCIALLY UNLESS THIS 10:32:49 COMPENSATION FUND IS PUT INTO PLACE. 10:32:52 AS EACH DAY AND WEEK AND MONTH GOES BY, THE HISTORY OF THESE 10:32:58 FAMILIES ARE GOING TO BE ALTERED. 10:33:01 AND PERMANENTLY ALTERED UNLESS THEY ARE GIVEN THE FINANCIAL 10:33:06 CAPACITY TO TAKE CARE OF THEIR LOVED ONES, THEIR CHILDREN, 10:33:11 THEIR FAMILIES. IS THAT'S WHY THIS COMPENSATION 10:33:24 FUND IS SO IMPORTANT, THAT'S WHY IT IS NOT A SHAKEDOWN. 10:33:29 IT IS IN FACT PRESIDENT OBAMA ENSURING THAT A COMPANY WHICH 10:33:34 HAS SPOILED THE WATERS OF OUR NATION IS MADE ACCOUNTABLE FOR 10:33:39 THE HARM WHICH IS DONE TO OUR PEOPLE. 10:33:42 A COMPANY WHICH SAID FOR THE FIRST WEEK THAT IT WAS ONLY 10:33:46 1,000 BARRELS OF OIL PER DAY WHEN WE NOW KNOW THAT THEY KNEW 10:33:51 IT WAS AT LEAST 1,000 TO 14,000 BARRELS. 10:33:56 A COMPANY WHICH CONTINUES TO DENY THAT THERE WERE UNDERWATER 10:34:00 TOXIC PLUMES, A COMPANY WHICH HAS NOT BEEN PROVIDING THE 10:34:04 PROPER PROTECTIVE GEAR, A COMPANY THAT SAYS THEY COULD -- 10:34:21 THIS IS NOT A SHAKEDOWN OF THEIR COUNTRY, THIS IS THE AMERICAN 10:34:25 GOVERNMENT, PRESIDENT OBAMA ENSURING THAT THIS COMPANY IS 10:34:28 MADE ACCOUNTABLE AND SENDING A SIGNAL TO ALL OTHER COMPANIES 10:34:34 THAT SEEK TO TREAT ORDINARY AMERICAN FAMILIES IN A WAY THAT 10:34:40 CAN DESTROY THEIR ENTIRE FAMILY'S HISTORY. 10:34:43 THIS IS IN MY OPINION THE AMERICAN GOVERNMENT WORKING AT 10:34:45 ITS BEST. THIS IS CREATING TRULY THE KIND 10:34:50 OF PARTNERSHIP BETWEEN THE PUBLIC AND PRIVATE SECTOR. 10:34:54 THAT CAN MAKE SURE THAT INNOCENT VICTIMS ARE NOT ROAD KILL AS A 10:35:01 RESULT OF CORPORATE PLANS THAT DID NOT ACTUALLY FACTOR IN THE 10:35:05 HARM THAT CAN OCCUR TO ORDINARY FAMILIES. 10:35:08 SO I JUST COULD NOT DISAGREE MORE STRONGLY. 10:35:13 I THINK THAT THIS IS IN MY OPINION ONE OF THE MOST 10:35:17 IMPORTANT HEARINGS THAT THIS CONGRESS WILL EVER HAVE BECAUSE 10:35:20 IT IS ENDING A SIGNAL TO ANY CORPORATIONS OUT THERE INCLUDING 10:35:29 THE ONES THAT TESTIFIED ON TUESDAY THAT THEY HAD TO RESPOND 10:35:34 TO THE HARM WHICH COULD BE DONE IN THE GULF IF ONE OF THEIR RIGS 10:35:37 HAD THE SAME KIND OF CATASTROPHIC EVENT THAT THEY 10:35:41 WILL BE MADE ACCOUNTABLE. SO I THANK YOU, MR. CHAIRMAN FOR 10:35:47 HOLDING THIS HEARING AND I THANK YOU MR. HAYWARD BECAUSE 10:35:51 YESTERDAY WAS THE DAY WHERE THE PAGE BEGAN TO BE TURNED AND WE 10:35:57 MOVE TO A NEW ERA, WHERE IN FACT YOUR COMPANY IS MADE ACCOUNTABLE 10:36:03 AND THE CITIZENS OF THE GULF ARE MADE WHOLE. 10:36:05 THANK YOU, MR. CHAIRMAN. MR. SULLIVAN, HOLD YOUR 10:36:14 OPENING STATEMENT TO THREE MINUTES, PLEASE SIR. 10:36:17 CHAIRMAN, STUPAK, THANK YOU FOR HOLDING THIS HEARING TODAY. 10:36:23 ON APRIL 20, 2010, A FIRE -- THIS TERRIBLE DISASTER RESULTED 10:36:29 IN THE LOSS OF 11 LIVES AND INJURED MANY MORE MEMBERS OF THE 10:36:34 126-PERSON CREW. THERE IS NO QUESTION THAT THE BP 10:36:36 OIL SPILL IS A TRAGEDY. IN FACT IT IS THE WORST 10:36:41 ENVIRONMENTAL DISASTER IN OUR NATION'S HISTORY. 10:36:44 I BELIEVE WE MUST DO EVERYTHING IN OUR POWER TO CAP THE LEAK, 10:36:47 FIND OUT WHAT CAUSED THE EXPLOSION AND ENSURE NOTHING 10:36:50 LIKE THIS EVER HAPPENS AGAIN. BP MUST BEAR THE ENTIRE 10:36:56 FINANCIAL BURDEN FOR THIS DISASTER AND THE AMERICAN 10:36:58 TAXPAYER SHOULD NOT BE ON THE HOOK FOR A DIME. 10:37:02 ACCORDING TO THE OCCUPATION SAFETY HEALTH ADMINISTRATION, 10:37:05 THERE'S MOUNTING EVIDENCE THAT BP HAS ONE OF THE WORST SAFETY 10:37:09 RECORDS OF ANY MAJOR OIL COMPANY OPERATING IN THE UNITED STATES. 10:37:13 TO THIS END, I'M LOOKING FORWARD TO EXAMINING WITH MR. HAYWARD 10:37:18 WHETHER THERE IS A DEFICIENT SAFETY CULTURE AT BP THAT LED TO 10:37:22 THIS DISASTER AND OTHER RECENT ONES INCLUDING THE BP REFINELY 10:37:27 EXPLOSION IN 2005 IN TEXAS CITY, TEXAS AND A BP PIPELINE SPILL IN 10:37:34 2007 WE RELEASED 200,000 GALLONS OF OIL INTO THE ALASKAN 10:37:40 WILDERNESS. MR. HAYWARD WHY IS BP'S RECORD 10:37:43 ON SAFETY SO SPOTTY? WHAT IS EQUALLY AS IMPORTANT TO 10:37:48 COMBAT THE SPILL IS THE KNEE JERK LEGISLATION REACTION FROM 10:37:51 THE CONGRESS. RIGHT NOW THE ADMINISTRATION AND 10:37:53 THEIR ALLIES IN THE HOUSE ARE MORE FOCUSSED ON PUTTING THE OIL 10:37:57 AND GAS INDUSTRY OUT OF BUSINESS ON SOLUTIONS TO THE PROBLEM. 10:38:01 INSTEAD OF WORKING IN A BUY PART AN WAY FOR RIGOROUS SAFETY 10:38:07 STANDARDS ON ALL OFFSHORE RIGS, THE M IS EXPLOITING THIS 10:38:10 DISASTER TO ADVANCE THIS DISASTROUS CAP AND TRADE ENERGY 10:38:14 POLICY, WHICH WON'T STOP THE WELL FROM LEAKING BUT RATHER 10:38:19 WILL ONLY SERVE AS A NATIONAL TAX ON -- CRIPPLING OUR ECONOMY 10:38:23 AND MAKING THE UNEMPLOYMENT LINES LONGER. 10:38:26 I BELIEVE CONGRESS SHOULD WORK TOWARDS SAFETY INSPECTIONS ON 10:38:35 ALL OFFSHORE WELLS. A BAN ON OFFSHORE DRILLING WILL 10:38:38 ONLY PUT AMERICANS OUT OF WORK. BUT IT WILL SEND A -- IT WILL 10:38:43 SEND ENERGY AND GAS PRICES THROUGH THE ROOF AND INCREASE 10:38:47 OUR RELIANCE ON FOREIGN, IMPORTED OIL. 10:38:49 WE STILL HAVE WORK TO DO TO UNCOVER EXACTLY WHAT WENT WRONG 10:38:53 AND MR. QUESTIONS REMAIN ON THE ONGOING EFFORTS TO PLUG IS LEAK. 10:38:58 THIS SHOULD NOT BE AN EXCUSE TO -- AS WE WILL NEED MORE OIL 10:39:04 AND NATURAL GAS TO MEET THE CRUCIAL NEEDS OF OUR NATION, AND 10:39:07 I YIELD BACK THE BALANCE OF MY TIME. 10:39:11 I WOULD LIKE TO HEAR FROM THE CHAIRMAN EMERITUS OF THE ENERGY 10:39:16 COMMITTEE, MR. DINGLE FOR FIVE MINUTES, PLEASE, SIR. 10:39:19 CHAIRMAN, I COMMEND YOU FOR HOLDING THIS IMPORTANT HEARING 10:39:21 TODAY. WE SIT HERE ON DAY 59 OF THE 10:39:27 WORST ENVIRONMENTAL DISASTER IN THE HISTORY OF THIS COUNTRY. 10:39:31 11 PEOPLE ARE DEAD, THE ALREADY FRAGILE ECONOMY OF AN ENTIRE 10:39:38 REGION IS IN REAL DANGER OF SHATTERING. 10:39:40 WE WILL BE FEELING THE ENVIRONMENTING CONSEQUENCES FOR 10:39:41 YEARS TO COME. AND GOD ALMIGHTY ALONE KNOWS 10:39:47 WHAT THE HEALTH AND ENVIRONMENTAL EFFECTS OF THE 10:39:50 CONTAINMENT AND CLEANUP STRATEGIES WILL BE. 10:39:53 MILLIONS OF GALLONS OF CHEMICAL DISPERSANTS AND CONTROLLED 10:39:59 BURNS. SADLY WE CAN'T EVEN GET A DECENT 10:40:01 ESTIMATE OF THE AMOUNT OF OIL AND GAS THAT'S SPEWING OUT INTO 10:40:04 THE WATER. BP HAS BEEN BEFORE THIS 10:40:09 COMMITTEE MANY TIMES. AND RARELY HAS IT BEEN APLEASANT 10:40:12 MEETING. BECAUSE IN VARIABLY THEY HAVE 10:40:17 APPEARED HERE TO DEFEND SERIOUS FAILURES ON THE PART OF THE 10:40:20 COMPANY. THE COMPANY HAS A HISTORY OF 10:40:25 CUTTING CORNERS, APPARENTLY, FOR THE ALMIGHTY DOLLAR. 10:40:29 TEXAS CITY, THEY PAID THERE $50 MILLION IN CRIMINAL FINES, 10:40:36 ALASKA'S NORTH SIDE SLOPE WHICH WAS INVESTIGATED BY THIS 10:40:39 SUBCOMMITTEE, WHERE A PIPE CORRODED, ALLOWING 1 MILLION 10:40:42 LITERS OF OIL TO SPILL. IN EACH INSTANCE, WE WERE HOPING 10:40:48 THAT THE ASSURANCES GIVEN BY BP THAT THIS WOULD NOT HAPPEN AGAIN 10:40:55 HAVE BEEN REGRETTABLY UNTRUE. IN REFERENCE TO A DECISION ON 10:41:02 HOW TO SECURE THE FINAL 1,200 FEET OF THE WELL, A SINGLE 10:41:05 CASING OR TIE BACK OF BP ENGINEER SAID NOT RUNNING THE 10:41:10 TIE BACK 15I6S A GOOD DEAL OF TIME AND MONEY. 10:41:21 IN REFERENCE TO INSTALLING FOR CENTRALIZERS, A BP INSPECTOR 10:41:25 SAID, IT WILL TAKE TEN HOURS TO INSTALL THEM, I AM CONCERNED, I 10:41:32 DON'T WANT TO USE IT. SO WERE WE. 10:41:35 EVEN IF THE HOLE IS PERFECTLY STRAIGHT, AS STRAIGHT PIECE OF 10:41:40 PIPE, EVEN IN TENSION WILL NOT SEEK THE CENTER OF THE HOLE 10:41:44 UNLESS IT HAS SOMETHING TO CENTRALIZE IT. 10:41:47 I WANT YOU TO LISTEN TO THIS, BUT WHO CARES? 10:41:50 IT'S DONE, END OF STORY. IT WILL PROBABLY BE FINE. 10:41:53 AND NOTE THE WORD PROBABLY. AND WE'LL GET A GOOD CEMENT JOB. 10:41:57 I WOULD RATHER HAVE TO SQUEEZE THAT GETS STUCK, SO GUARD RIGHT 10:42:03 ON THE RISK-REWARD OCCASION. MR. CHAIRMAN, THE COMMENTS OF 10:42:09 OUR WITNESS TODAY REVEAL LITTLE SORROW FOR THE EVENTS THAT HAVE 10:42:13 OCCURRED. AND HERE HE SAID, THE GULF OF 10:42:16 MEXICO IS A VERY BIG OCEAN, THE AMOUNT OF VOLUME OF OIL AND 10:42:23 DISPERANT WE ARE PUTTING IN IS TINY IN RELATION TO THE TOTAL 10:42:28 WATER VOLUME AND THEN THE ENVIRONMENTAL IMPACT OF THE 10:42:32 DISASTER IS LIKELY TO BE VERY, VERY MODEST. 10:42:35 I WONDER IF HE WISHES TO STAND ON THAT STATEMENT TODAY. 10:42:39 WHEN MR. HAYWARD RESPONDED TO THE CLAIMS THAT CLEANUP WORKERS 10:42:43 WERE BECOMING ILL BECAUSE OF OIL FUMES AND SUCH, HE SAID THIS, 10:42:48 FOOD POISONING IS CLEARLY A BIG ISSUE. 10:42:51 FINALLY MOST FAMOUSLY, MR. HAYWARD INFORMS US HE WANTS HIS 10:42:58 LIFE BACK, LAST YEAR MR. HAYWARD ENJOYED A SPLENDID 40% PAY RAISE 10:43:05 EVEN THOUGH BP'S PROFITS DROPPED. 10:43:08 I JUST HAPPEN TO BE A POOR POLISH LAWYER FROM DETROIT. 10:43:11 BUT IT SEEMS TO ME THAT THIS IS A CURIOUS RESPONSE TO A DROP IN 10:43:15 PROFITS. IT MAKES ME WONDER WHAT THE 10:43:17 COMPENSATION PACKAGE OF OUR WITNESS WILL BE THIS YEAR. 10:43:21 MR. CHAIRMAN, AGAIN, I THANK YOU FOR YOUR DILIGENCE AND HARD WORK 10:43:24 ON THIS ISSUE. I LOOK FORWARD TO HEARING FROM 10:43:27 OUR WITNESSES TODAY AND LOOK FORWARD TO WORKING WITH YOU ON 10:43:29 THIS MATTER. THANK YOU. 10:43:32 THANK YOU, MR. CHAIRMAN. NEXT MS. BLACKBURN, IF YOU WILL 10:43:38 MAKE YOUR OPENING STATEMENT PLEASE. 10:43:40 THANK YOU, MR. CHAIRMAN, I THANK YOU AND RANKING MEMBER 10:43:43 BURGESS FOR HOLDING THE HEARING TODAY. 10:43:45 MR. HAYWARD, I THANK YOU FOR YOUR WILLINGNESS TO TESTIFY 10:43:48 BEFORE THIS COMMITTEE. YOU KNOW, WHEN NEWS OF THE BP 10:43:53 SPILL BEGAN AND INFORMATION ABOUT THE WELL STARTED TO 10:43:55 CIRCULATE, IT SEEMEDA THERE WAS PROBLEMS NOT ONLY WITH BP, BUT 10:44:00 ALSO WITH MMS BUREAUCRACY AND MAYBE THE PROBLEM LAY THERE 10:44:07 RATHER THAN WITH ANYTHING THAT COULD HAVE GONE WRONG WITH BP, 10:44:10 THAT IT WAS THERE WITH MMS. WHAT WELEARNED AND 10:44:17 CONFIRMED THAT THAT IS NOT CORRECT, THAT THE PROBLEM DOES 10:44:20 LIE WITH BP AND WHAT WENT WRONG, WHILE THERE ARE MANY FAULTS WITH 10:44:26 MMS ON SAFETY AND OVERSIGHT, MOST OF THE DATA POINTS TO WRONG 10:44:31 DECISION MAKING BY BP'S MANAGEMENT AND THIS IS NOT THE 10:44:33 FIRST TIME AND WE HAVE TALKED ABOUT THAT IN SEVERAL OF OUR 10:44:37 OPENING STATEMENTS THIS MORNING. IT'S NOT THE FIRST TIME WE HAVE 10:44:41 BEEN BEFORE THIS COMMITTEE ON SAFETY PROBLEMS, AND MOST 10:44:45 RECENTLY AS THE TEXAS CITY 2005 AND ALASKA INCIDENTS WHICH 10:44:49 REVEALED INSUFFICIENT PROTOCOLS IN BP'S MANAGEMENT AND SAFETY 10:44:55 HIERARCHY, THERE WAS A STATEMENT FROM BP THAT YOU ALL WOULD 10:44:59 QUOTE, UNQUOTE FOCUS LIKE A LIZZER ON SAFETY. 10:45:01 AND IT IS CONCERNING TO US THAT THE APPEARANCE IS, MR. HAYWARD 10:45:06 THAT BP HAS NOT LEARNED FROM PREVIOUS MISTAKES, SO IT LEAVES 10:45:10 US ASKING THE QUESTIONS OF YOU AND OF BP, WAS THIS ACCIDENT 10:45:16 CAUSED BY NEGLIGENCE? WAS IT CAUSED BY RISK TAKING? 10:45:21 WAS IT CAUSED BY COST CUTTING MEASURES? 10:45:24 BY BP DECISION MAKERS AND UNFORTUNATELY FOR CITIZENS, 10:45:30 BEACHES AND WILDLIFE ALL ALONG THE COASTAL REGION, THEY ARE 10:45:34 PAYING A PRICE FOR THOSE MISPLACED DECISIONS. 10:45:39 BP CANNOT BLAME MOTHER NATURE OR EQUIPMENT FAILURE OR EVEN OTHER 10:45:45 SUBCONTRACTORS. THEIR ACTIONS HAVE PUT AT RISK 10:45:48 THE LIVELIHOOD OF COMMUNITIES AND BUSINESSES THAT DEPEND ON 10:45:52 THE GULF, NOT ONLY FOR SEAFOOD AND TOURISM, BUT ALSO ENERGY 10:45:57 PRODUCTION THAT THIS NATION AS A WHOLE RELIES UPON. 10:46:02 IN ADDITION, THE CURRENT ADMINISTRATION ALSO SHARES A 10:46:05 SIGNIFICANT PORTION OF THE BLAME FOR THE OIL SPILL. 10:46:07 I MENTIONED MMS EARLIER AND THE MMS OFFICIALS APPROVED 10:46:12 INADEQUATE SPILL RESPONSE PLANS AND FIELD INSPECTORS RUBBER 10:46:17 STAMPED INSPECTION PAPERS SUBMITTED BY OIL COMPANIES. 10:46:20 THIS IS ANOTHER AREA WHERE WE AS MEMBERS OF CONGRESS IN DOING OUR 10:46:25 DUE DILIGENCE WILL ASK YOU ALL AND MMS WHY. 10:46:28 BUT WHAT IS THE MOST DAMAGING IS THAT THE PRESIDENT AND SENIOR 10:46:32 OFFICIALS KNEW ON DAY ONE THE BLOWOUT PREVENTER WAS NOT 10:46:35 WORKING AND KNEW OF THE POTENTIAL SPILLAGE. 10:46:39 WHILE BP SHOULDERS MUCH OF THE RESPONSIBILITY FOR THIS SPILL, 10:46:42 THE LACK OF EFFORT BY THIS ADMINISTRATION TO CONTAIN THE 10:46:45 SPILL HAS DOOMED THE ECONOMY AND WILDLIFE OF THE GULF COAST FROM 10:46:50 AN OIL SPILL WHICH COULD HAVE BEEN CONTAINED. 10:46:55 AND NOW RECENTLY IMPOSED DRILLING MORATORIUMS WILL 10:46:59 FURTHER DEVASTATE AMERICA'S ENERGY PRODUCTION AND WILL 10:47:02 DESTROY HUNDREDS OF THOUSANDS OF JOBS IN THE GULF COAST REGION. 10:47:06 THANK YOU FOR BEING WITH US TODAY, MR. CHAIRMAN, I YIELD THE 10:47:09 BALANCE OF MY TIME. THANK YOU. 10:47:13 I NEXT TURN TO VICE CHAIRMAN OF THE SUBCOMMITTEE, OPENING THREE 10:47:19 MINUTES SIR. MR. HAYWARD, YOU'RE NOT GOING 10:47:26 TO GET A LEK SCHUR FROM ME TODAY AND YOU'RE NOT GOING TO GET AN 10:47:31 APOLOGIES. QUITE FRANKLY THE PEOPLE WHO 10:47:33 LIVE ALONG THE AFFECTED AREA OF THE GULF COAST DESERVE ANSWERS 10:47:36 FROM YOU. WE WERE IN LOUISIANA LAST WEEK 10:47:38 AND WE HAD THE OPPORTUNITY TO HEAR FROM A VARIETY OF 10:47:43 INDIVIDUALS WHOSE LIVES HAVE BEEN DEVASTATED BY THIS OIL 10:47:45 DISASTER AND I USE THE WORD DISASTER SPECIFICALLY BECAUSE I 10:47:49 DON'T THINK SPILL QUITE CAPTURES THE MAGNITUDE OF WHAT'S GOING 10:47:51 ON. THE AMERICAN PEOPLE ARE 10:47:55 FRUSTRATED BECAUSE WE WERE FIRST TOLD THAT THIS WAS A 1,000 10:47:58 BARREL BER DAY RELEASE AND ABOUT A WEEK LATER THAT WAS UPDATED TO 10:48:03 5,000 BARRELS PER DAY. AND AT THE END OF MAY IT WAS 10:48:06 ADJUSTED UPWARDS OF 15,000 TO 19,000 BARRELS A DAY AND THIS 10:48:11 WEEK IT COULD BE AS HIGH AS 60,000 BARRELS A DAY. 10:48:18 THAT'S 17.5 MILLION GALLONS BER WEEK AND OVER THE LENGTH OF THIS 10:48:26 DISASTER IT COULD BE THE LARGEST RELEASE OF OIL IN THE NORTH 10:48:29 AMERICAN CONTINENT IN HISTORY, UNINTENDED. 10:48:31 ONE OF THE THINGS I THINK WE NEED TO KNOW ABOUT TODAY IS THE 10:48:35 DECISIONS THAT YOUR COMPANY MADE AND WHO AHEAD THEM THAT LED TO 10:48:39 THIS EXPLOSION AND SUBSEQUENT DISASTER, WHAT YOUR COMPANY IS 10:48:47 DOING TO FIX THIS PROBLEM AND WHAT YOUR COMPANY IS DOING FOR 10:48:49 ALL THE FAMILIES AND COMMUNITIES THAT HAVE BEEN DEVASTATED BY 10:48:52 THIS DISASTER AND I THINK IT WOULD BE HELP FOLLOW FOR YOU AND 10:48:57 EVERYBODY IN THIS HEARING ROOM TO HEAR FROM THOSE WOMEN WHO 10:49:02 TESTIFIED LAST WEEK, BECAUSE THEY RAISED VERY POINTED 10:49:05 QUESTIONS THAT WERE DIRECTED TO YOUR COMPANY, SIR, AND THEY WERE 10:49:08 QUESTIONED THAT WERE RAISED AFTER THEY GAVE PASSIONATE 10:49:10 TESTIMONY OF WANTING THE OIL AND GAS BUSINESS TO CONTINUE IN 10:49:15 LOUISIANA AND THE GULF COAST REGION. 10:49:17 SO I WOULD LIKE TO HAVE YOU LISTEN TO THEIR KMENTS IN THE 10:49:20 HEARING. THIS IS NATALEE ROSCO. 10:49:24 I WOULD LIKE TO LEAVE HERE TODAY KNOWING THAT BECAUSE OF MY 10:49:28 HUSBAND'S TRAGIC DEATH, WE CAN BEGIN TO FOCUS ON MAKING SAFETY 10:49:32 THE MOST IMPORTANT PRIORITY. NOT TO FOCUS ON MAKING MORE 10:49:38 SAFETY REGULATIONS, BUT ON WAYS TO SAFELY IMPLEMENT THE ONES 10:49:42 THAT WE ALREADY HAVE. THIS CHALLENGE WILL NOT BE IN 10:49:51 VAIN BECAUSE RIGHT NOW MY HUSBAND'S DEATH IS IN VAIN. 10:49:55 IT WILL NOT BE IN VAIN IF IT MAKE THE TOP PRIORITY 10:49:59 AND CAUSE THESE POWERFUL OIL COMPANIES TO KNOW THEY WILL BE 10:50:03 HELD ACCOUNTABLE FOR THEIR ACTIONS. 10:50:07 WILE I UNDERSTAND COMPANIES MUST MAKE A PROFIT. 10:50:11 THIS IS COURTNEY. I DO NOT BELIEVE IT SHOULD BE 10:50:13 AT THE EXPENSE OF RISKING LIVES OR DESTROYING FAMILIES I'M 10:50:17 ASKING TO YOU PLEASE CONSIDER HARSH PUNISHMENTS ON COMPANIES 10:50:21 WHO CHOOSE TO IGNORE SAFETY STANDARDS BEFORE OTHER FAMILIES 10:50:25 ARE DESTROYED. MY FAMILY CAN NEVER AND WILL 10:50:28 NEVER BE ADEQUATELY COMPENSATED FOR OUR LOSS. 10:50:32 THESE ARE NOW WIDOWS WITH SMALL CHILDREN TO TAKE CARE OF 10:50:36 AND THEY ARE THE SYMBOLS AND THE FACES OF THIS DISASTER AND I 10:50:40 LOOK FORWARD TO YOUR TESTIMONY. YIELD BACK THE BALANCE OF MY 10:50:42 TIME. THANK YOU. 10:50:46 NEXT TURN TO MR. GINGREY OF GEORGIA FOR OPENING STATEMENTS. 10:51:00 FIRST OF ALL, I WANT TO EXPRESS MY CONDOLENCES, WE MUST 10:51:05 REMEMBER THOSE LIVES AND THE LIVES OF THEIR FAMILIES AS WE 10:51:07 JUST SAW THAT WERE FOREVER CHANGED ON THAT FATEFUL APRIL 10:51:12 DAY AND WE MUST CONTINUE TO KEEP THEM IN OUR THOUGHTS AND 10:51:16 PRAYERS. FURTHER, WE HAVE AN OBLIGATION 10:51:17 NOT ONLY TO THOSE FAMILIES BUT TO EVERYONE AFFECTED BY THE 10:51:21 AFTERMATH TO GET TO THE BOTTOM OF THE CAUSES OF THIS ACCIDENT 10:51:24 AND THE FAILURE TO SECURE THE SITUATION AND STOP THE 10:51:28 DEVASTATION WRECKED UPON THE GULF COAST. 10:51:31 MR. CLARM, WE HAVE AN OPPORTUNITY IN THIS OVERSIGHT 10:51:34 HEARING TO ASK QUESTIONS TO GET TO THE FACTS OF WHAT HAPPENED. 10:51:37 HOWEVER, TODAY'S HEARING IS INCOMPLETE. 10:51:39 WE CAN ONLY ASCERTAIN HALF OF THE STORY TODAY BECAUSE WE DO 10:51:43 NOT HAVE ANYONE REPRESENTING THE ADMINISTRATION. 10:51:47 THE MINERAL MANAGEMENT SERVICE TO DISCUSS THEIR OVERSIGHT ROLE 10:51:50 AND THEIR RESPONSIBILITY IN ENSURING THAT AN ACCIDENT LIKE 10:51:53 THIS DIDN'T HAPPEN. DEEP OCEAN DRILLING IS NOT NEW. 10:51:57 IN FACT, WE BEEN DOING IT FOR DECADES IN THE GULF COAST. 10:52:00 WHY DID THIS HAPPEN NOW? I'VE HEARD SOME ASSERT THAT IT 10:52:05 WAS A LAX OVERSIGHT OF THE PREVIOUS ADMINISTRATION THAT LED 10:52:07 TO THIS ACCIDENT. WELL FW, THAT'S THE CASE, WHY 10:52:10 DID THIS NOT HAPPEN DURING THE LAST DECADE. 10:52:12 WHY DID THIS OCCUR ALMOST A YEAR AND A HALF INTO THE CURRENT 10:52:16 ADMINISTRATION. WE NEED TO HEAR FROM OUR OWN 10:52:19 DEPARTMENT OF INTERIOR. AND THE MINERAL MANAGEMENT 10:52:22 SERVICES. CERTAINLY, MR. HAYWARD SHOULD BE 10:52:24 PREPARED TO ANSWER BP'S RESPONSIBILITY BUT WE WILL ALSO 10:52:27 NEED ANSWERS FROM THE ADMINISTRATION SO THAT WE CAN 10:52:30 DEMAND ACCOUNTABILITY AND IMPLEMENT PRUDENT REFORMS TO 10:52:33 RETURN US TO SAFE DRILLING IN OUR OCEANS BECAUSE SIMPLY SAYING 10:52:37 NO TO FURTHER AND NEW DRILLING IS NOT A REALISTIC ANSWER. 10:52:42 I FURTHER REALIZE THERE ARE IN THIS ADMINISTRATION WHO HAVE 10:52:47 A PEN CLANT FOR NOT LETTING A CRISIS GO TO WASTE, BUT FOR A 10:52:51 NATION DEPENDENT ON FOREIGN OIL, FOR A NATION WITH UNEMPLOYMENT 10:52:55 HOVERING AT 10%, WE CAN'T JUST SAY WE CAN'T DO THIS. 10:52:58 WE CAN'T TAKE OUR BALL AND GO HOME WHETHER THE CONSEQUENCES 10:53:01 MEAN A WEAKER AMERICA. EVERYONE DEPENDING ON FOREIGN 10:53:06 FUELS, ALL TOO INCLINED IT SEEMS, TO LET JOBS LEAVE THIS 10:53:09 COUNTRY. NO, MR. CHAIRMAN, WE HAVE TO 10:53:12 UNDERSTAND WHAT HAPPENED ON AND LEADING UP TO APRIL 20th. 10:53:16 WE NEED TO ANSWER THOSE QUESTIONS TO DETERMINE IF THE 10:53:18 RULES OR AGENCY OVERNIGHT WIN SUFFICIENT OR IF THIS WAS PURELY 10:53:21 AN ACT OF NEGLIGENCE OR WANTON DISREGARD FOR SOUND REGULATIONS. 10:53:26 NOW WE CAN TRY TO ENACT THE PERFECT REFORM THAT ENSURES THIS 10:53:31 NEVER HAPPENS AGAIN BOUGHT IT WILL NOT CHANGE THE PAST OR THE 10:53:33 TOLL UPON THE LIVES FOREVER CHANGED. 10:53:35 MR. HAYWARD, THE RESPONSIBILITY TO MAKE THESE FAMILIES WHOLE 10:53:39 FALLS TO YOU AND YOUR COMPANY BP YOU HAVE AN OBLIGATION TO RIGHT 10:53:43 THIS WRONG AND NOT ONLY THE PUBLIC TRUST BUT ALSO TO BELIEVE 10:53:46 IN THE FREE MARKET AND ENTREPRENEURSHIP DEMAND IT. 10:53:49 MR. CHAIRMAN, I WAIT THE OPPORTUNITY TO ASK QUESTIONS 10:53:53 WITH THE HOPE THAT WE WILL SOON DISCUSS THESE SAME MATTERS WITH 10:53:56 OUR OWN ADMINISTRATION. AND I YIELD BACK. 10:53:58 THANK YOU, MR. GINGREY. MR. GETT FOR AN OPENING 10:54:06 STATEMENT. AS THIS SAN INVESTIGATIVE 10:54:08 HEARING. LIE SUBMIT MY EXCELLENT OPENING 10:54:12 STATEMENT FOR THE RECORD IN ORDER TO HAVE MORE TIME TO 10:54:15 QUESTION THE WITNESS. VERY WELL. 10:54:17 MR. DOYLE, OPENING STATEMENT. MR. CHAIRMAN, THANK YOU FOR 10:54:20 CONVENING THIS HEARING TODAY SO WE CAN BEGIN TO UNDERSTAND WHAT 10:54:23 WENT SO TRAGICALLY WRONG ON THE DEEP WATER HORIZON. 10:54:28 WE'RE NOW 59 DAYS INTO THIS TRAGEDY AND OIL CONTINUES TO 10:54:34 GUSH INTO THE GULF OF MEXICO. THE ESTIMATES FOR HOW MUCH OIL 10:54:37 SPILLS INTO THE GULF EACH DAY CONTINUE TO RISE AND WE STILL 10:54:40 HAVE NO WAY TO CAP THE WELL IN THE NEAR FUTURE. 10:54:43 WE SIT HELPLESSLY AS WE WAIT FOR A RELIEF WELL TO BE COMPLETED. 10:54:47 AS THE DETAILS AND FACTS ABOUT DEEP WATER HORIZON COME TO LIGHT 10:54:52 IT IS CLEAR TO US ALL THAT THE DECISIONS MADE BY OFFICIALS AT 10:54:57 BP THAT REFLEKTDED BAD JUDGMENT AT BEST AND CRIMINAL NEMPS AT 10:55:01 WORST, THROUGH THIS COMMITTEE'S INVESTIGATION, WE'VE LEARNED 10:55:04 THAT AT NEARLY EVERY TURN, BP CUT CORNERS. 10:55:08 AND N WELL DESIGN, THE NUMBER OF CENTRALIZERS THEY USED, WHETHER 10:55:11 TO RUN A CEMENT BOND LOCK, CIRCULATING DRILLING MUDS AND 10:55:16 SECURING THE WELL HEAD WITH A LOCKDOWN SLEEVE, BP TOOK THE 10:55:20 PATH OF LEAST RESISTANCE. ON TUESDAY, COLLEAGUES AND 10:55:23 COMPETITIVES FROM THE OIL AND GAS INDUSTRY PROVIDED SWORN 10:55:29 TESTIMONY THAT THEY BELIEVED BP DELINQUENCIES IN WELL DESIGN AND 10:55:32 FAILED TO FOLLOW THE BEST PRACTICES OF THE INDUSTRY. 10:55:35 NOW WE LEARN THAT BP HAD SEVERAL WARNINGS ABOUT THE McCONDO WELL 10:55:39 WITH ONE OF THEIR OWN ENGINEERS CALLING IT A NIGHTMARE WELL. 10:55:42 BUT INSTEAD OF TREATING THE WELL WITH CAUTION IT SEEMS THAT BP'S 10:55:46 ONLY INTEREST WAS IN COMPLETING THE WELL QUICKLY AND CHEAPLY. 10:55:51 MANY QUESTIONS STILL NEED TO BE ANSWERED. 10:55:54 WERE BP EMPLOYEES ON THE DEEP WATER HORIZON GIVE ORDERS FROM 10:55:58 BP OFFICIALS TO SPEED UP THE McCONDO WELL? 10:56:00 WERE THEY TOLD TO SLASH COSTS WHEREVER POSSIBLE? 10:56:04 WHY WOULD A TEAM ON BOARD THE RIG TO TEST THE CEMENTING OF THE 10:56:09 WELL BE SENT HOME BEFORE PERFORMING THE TEST? 10:56:13 SURELY IF A CEMENT BOND LOCK WAS EVER NECESSARY, IT WOULD BE IN A 10:56:17 NIGHTMARE WELL SITUATION. BUT SENDING THE TEAM HOME, BP 10:56:22 SAVED $100,000 AND NINE OR TEN HOURS OF WORK. 10:56:25 MR. HAYWARD, I HOPE YOU'RE HERE TODAY TO ANSWER QUESTIONS ABOUT 10:56:29 THE DECISION MADE ON DEEP WATER HORIZON THAT LED TO THIS TRAGIC 10:56:32 AND DEADLY BLOWOUT. EARLIER THIS WEEK, THIS 10:56:37 COMMITTEE SENT YOU A LETTER WITH DETAILED INFORMATION ABOUT 10:56:39 TOPICS WE WOULD LIKE YOU TO ADDRESS TODAY. 10:56:42 IN REVIEWING YOUR STATEMENTS SUBMITTED FOR TODAY'S HEARING, 10:56:45 I'M EXTREMELY DISAPPOINTED IN YOUR AVOIDANCE OF THE REQUESTED 10:56:49 TOPICS. I CERTAINLY HOPE THAT YOU USE 10:56:52 THE OPPORTUNITY TODAY TO ANSWER OUR QUESTIONS OPENLY AND 10:56:58 TRUTHFULLY. I KNOW BP COMMITTED TO CLEAN UP 10:56:59 THE GULF REGION AND I EXPECT THAT COMMITMENT TO BE ONGOING. 10:57:02 I WELCOME YOUR PLEDGE TO PAY DAMPS THROUGH A $20 BILLION 10:57:07 ESCROW FUND BUT THAT'S JUST THE TIP OF THE ICEBERG. 10:57:10 REBUILDING THE PUBLIC'S TRUST IN YOUR COMPANY AND YOUR INDUSTRY 10:57:13 WILL TAKE YEARS AND MANY SERIOUS CHANGES IN THE WAY YOU DO 10:57:18 BUSINESS. WHEN YOU OPERATE ON OUR LAND AND 10:57:21 IN OUR WATERS, YOU'RE ONLY THERE BECAUSE THE PUBLIC'S TRUST HAS 10:57:26 ALLOWED YOU TO BE THERE. YOU VIOLATED THAT TRUST IN THE 10:57:29 WORST POSSIBLE WAY. MR. HAYWARD, I LOOK FORWARD TO 10:57:32 YOUR TESTIMONY. I LOOK FORWARD TO ANSWERS TO OUR 10:57:35 QUESTIONS AND YOUR ONGOING EFFORTS TO GAIN AMERICA'S TRUST. 10:57:38 MR. CHAIRMAN, I YIELD BACK. THANK YOU, MR. DOYLE. 10:57:44 MR. GRIFFITH FOR OPENING STATEMENTS. 10:57:46 THREE MINUTES, PLEASE. THANK YOU. 10:57:48 MR. CHAIRMAN AND RANKING MEMBER FOR CALLING THIS IMPORTANT 10:57:52 HEARING TODAY. MR. HAYWARD FOR TAKING TIME TO 10:57:55 COME BEFORE OUR SUBCOMMITTEE TO DISCUSS WHAT HAPPENED ON THE 10:57:58 DEEP WATER HORIZON. I KNOW THAT LIKE US, YOUR NUMBER 10:58:01 ONE PRIORITY IS STOPPING THE FLOW OF OIL. 10:58:06 CONGRESS AND THIS COMMITTEE OWE IT TO THE AMERICAN PEOPLE DO 10:58:09 WHATEVER WE CAN TO AID THE UNIFIED COMMAND IN REACHING THIS 10:58:12 GOAL. THIS IS A TIME FOR ENGINEERING 10:58:14 AND ACTION I HOPE YOU WILL LET US KNOW WHAT WE CAN DO IN 10:58:17 CONGRESS TO BE HELPFUL. THERE ARE STILL MANY QUESTIONS 10:58:19 TO BE ANSWERED ABOUT WHAT HAPPENED ON THE DEEP WATER 10:58:21 HORIZON AND UNFORTUNATELY WE DO KNOW THAT THE DOCUMENTS THAT 10:58:24 WE'RE REVIEWING IT DOES NOT LOOK GOOD. 10:58:28 MY HOPE FOR OUR HEARING TODAY IS THAT WE WILL BE ABLE TO PUT 10:58:31 POLITICAL PUBLIC RELATIONS SHENANIGANS ASIDE AND FOCUS 10:58:35 UNDERSTANDING WHY DECISIONS WERE MADE AND HOW BP AND THE INDUSTRY 10:58:38 CAN ENSURE THAT THEY LEARN FROM THIS INCIDENT SO THAT DRILLING 10:58:42 SAFELY FOR OUR VALUABLE RESOURCES CAN CONTINUE. 10:58:45 AND I MIGHT SAY THIS TO YOU, YOU'RE NEVER AS GOOD AS THEY SAY 10:58:50 YOU ARE OR AS BAD AS THEY SAY YOU ARE. 10:58:52 SO THIS HEARING WILL GO BACK AND FORTH. 10:58:54 THE OTHER THING I'D LIKE TO REMIND THE COMMITTEE IS THAT THE 10:59:00 GREATEST ENVIRONMENTAL DISASTER IN AMERICA HAS BEEN CIGARETTES.

HD1080p: Angry senior manager scolding his employees while they are having board meeting.