BP CEO Continues the Company’s Crisis Response

The latest Gulf tourism ad, sponsored by BP.

In a kind of follow up to our “Lemons to Lemonade” year-end post, BP’s CEO Robert Dudley spoke on Friday, reaffirming the company’s commitment to the Gulf clean up. The Deepwater Horizon explosion happened in 2010, making this a nearly two-year-long crisis response.

“Every crisis is different, virtually every one. In this case, what we have done is learned and are putting in place new lessons around safety,” Dudley said.

According to Reuters, the company has promised $1 billion for environmental projects, and has handed out $8 billion of a $20 billion fund.

The company also got a boost from The New York Times’ Joe Nocera. Not only does Nocera reiterate the points made above and the company’s sponsorship of the Gulf tourism ads, he praises the compensation fund for its expediency in handling claims resulting from the spill.

“Indeed, the whole point of the Gulf Coast fund is to keep cases out of court; in return for compensation, the claimants have to agree not to sue for further damages. There is much that is right with this approach,” he writes.

Dudley says the company’s crisis response is in the “final few miles” at this point. With an eye towards the future, the company says it’s investing $1 billion in two U.S. wind farms that will be ready by year-end.