Washington, 25 August 2010

The BP oil spill was a massive "failure" in government oversight and administrations should be forced to consult with experts in the field before making expansive drilling policy, top officials of the White House's oil spill commission said on Wednesday.

Commission Co-chairman Bob Graham, a former U.S. Senator from Florida, said regulators and offshore drillers were aware of the possibility of a major well blowout, such as the one that caused the BP spill, but ignored the risks. "We should be clear. This disaster represents an enormous and shared failure of public policy," Graham said at the commission's second public meeting probing the massive blowout in the Gulf of Mexico that has since been contained.

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Reuters - for Commodities Now