BP CEO says oil disaster will transform industry

“This has been a transforming moment for the deepwater oil industry, not only in the United States, but in the world. Exactly how that transformation will occur is not possible to say right in the heart of the response. Things will be different and they clearly need to be.”

Fifty miles offshore from Venice, engineers were using undersea robots on Friday to guide a giant containment dome into place over the broken well that is spewing 5,000 barrels a day into the Gulf. “We’ve been very clear that the likelihood of success is not that high,” Mr Hayward said.

FT