Summary:

BP’s oil spill could take three months to stop, costing the company at least $2 billion and possibly more than $8 billion to cover cleanup and damages. The company earned $17 billion in net income last year. — Greenwire via NYT

BP’s Gulf Oil Spill Update: BP’s Deepwater Horizon oil spill in the Gulf of Mexico could take three months to stop, costing the oil behemoth at least $2 billion and possibly more than $8 billion to cover cleanup and damages. The company earned $17 billion in net income last year. — Greenwire via NYT

UN Climate Panel Review Begins: “The Interacademy Council has named the 12-member panel that will assess the activities and approach of the Intergovernmental Panel on Climate Change and issue a report by October.” The committee “lacks specialists in social sciences, the history of science or science-based policy making.” — NYT’s Dot Earth

Climate Treaty in 2010? Not Gonna Happen: “Outgoing U.N. climate chief Yvo de Boer shot down expectations of a comprehensive climate treaty this year, saying Monday that a major U.N. conference in December would yield only a first answer on curbing greenhouse gases.” — Associated Press

Schwarzenegger Pulls Support for Offshore Drilling Plan: California Governor Arnold Schwarzenegger is “withdrawing his support of a plan to expand oil drilling off the state’s coast, citing the environmental tragedy in the Gulf of Mexico.” — LAT Greenspace

Texas Oil Giants Join Battle Over Cali’s AB32: “Today, a group heavily backed by Texas oil giants Tesoro Corp. and Valero Energy Corp. plans to submit signatures for an initiative seeking to suspend” California’s landmark climate change bill, AB32, until the state’s unemployment rate “improves dramatically.” — San Francisco Chronicle


By Josie Garthwaite

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