[President Obama with U.S. Coast Guard Commandant Admiral Thad Allen and Louisiana Gov. Bobby Jindal aboard Marine One yesterday.]
As the massive Gulf Coast oil spill continues to get worse, British Petroleum (BP), is “coming under mounting pressure,” The Wall Street Journal reports. Since the accident, BP’s stock market value has declined by roughly $25 billion, the AP reports, and the clean up will cost billions and could take years.
White House press secretary Robert Gibbs was asked yesterday about President Obama’s approach to BP. “I point you to what [Interior] Secretary Salazar said about — I think the phrase was — at least the phrase I heard earlier in the week with him was to keep the boot on their throat. So I think that kind of sums up in that Western Colorado way how — what we’re trying to convey.”
The company, which has done much to put forth a “green” image, insofar as changing its logo to green and yellow and its tag line to “beyond petroleum,” has also invested hundreds of millions in to alternative energy research. Those efforts mean little now, as the company faces its biggest challenge yet.