Tagged: British Petroleum (BP)

Two years after the Deepwater Horizon accident killed 11 men and sent oil spewing into the Gulf of Mexico, the oil industry says it has learned valuable lessons from the disaster that are making drilling safer today.

But there's still a pressing issue looming for the oil industry: Oil field workers are retiring in huge numbers, leaving a workforce that's younger and — more importantly — less experienced.

Oil giant BP has agreed to settle thousands of lawsuits stemming from its well blowout in the Gulf of Mexico.

The deal was announced late Friday and prompted a federal judge in New Orleans to postpone a Monday trial, but the proposed settlement solves only one piece of BP's legal exposure from the worst environmental disaster in U.S. history.