Bp Says Relief Well Efforts On Target to Plug Oil Leak

Summary

---

In other news - A financial disclosure report released Friday shows that the Louisiana judge who struck down the Obama administration's six-month ban on deep-water drilling in the Gulf has sold many of his energy investments, including stock in Transocean, which owned the rig that exploded. U.S. District Judge Martin Feldman still owns eight energy-related investments, including stock in Exxon Mobil Corp. - Labor Secretary Hilda Solis slammed BP -- along with Massey Energy, owner of the West Virginia coal mine where 29 workers died in an explosion in April -- saying they need better safety measures. "Do your job better. Make an investment in your employees. We want you to make a profit, but not at the expense of killing your employees." - Vice President Joe Biden will head to the Gulf on Tuesday to visit New Orleans and the Florida Panhandle. - The IRS said payments for lost wages from BP's $20 billion victims compensation fund are taxable, like regular income. Payments for physical injuries or property loss are generally tax-free.

NEW ORLEANS - BP's effort to drill a relief well through 2 1/2 miles of rock to stop the Gulf spill is on target for completion by mid-August, the oil giant said Friday. But BP's stock tumbled anyway over the mounting costs of the disaster and the company's inability to plug the leak sooner.

See the full content of this document

Extract

---

Bp Says Relief Well Efforts On Target to Plug Oil Leak

The first tropical depression of the Atlantic season formed in the Caribbean, raising concerns about what might happe...

See the full content of this document

---