Ex-CEO says BP was unprepared for oil spill

Posted by Washington Post: Juliet Eilperin on November 9th, 2010
Associated Press: Former BP PLC chief Tony Hayward has acknowledged that the company was unprepared for the disastrous Gulf of Mexico oil spill and the media frenzy it spawned, and said the firm came close to financial disaster as its credit sources evaporated. In an interview with the BBC to be broadcast Tuesday, Hayward said company's contingency plans were inadequate and "we were making it up day to day." "What was going on was some extraordinary engineering," he said in extracts released in advance by the......

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