In advance of the hearing, top oil-company executives moved to distance their companies from BP. Exxon Mobil Chief Executive Officer Rex Tillerson called the April 20 explosion and subsequent collapse of the Deepwater Horizon rig "a dramatic departure from the industry norm in deepwater drilling."
Exxon is eager to know "what went wrong at this well that did not occur at the 14,000 other deepwater wells that have been successfully drilled around the world," Mr. Tillerson said.
Upon questioning by the subcommittee about the spill, Tillerson stated, "We are not well equipped to handle them. That's why we need an emphasis on preventing them from occurring."
Tillerson says that his company doesn't "proceed with operations if we cannot do so safely."
Was the BP well a once-in-a-lifetime, black swan event, or are there other deep-water wells at risk of catastrophe? The oil executives were asked by Rep. Charles Gonzales, D-Texas, whether they could say their operations were 100 percent safe. "No, I cannot," Tillerson responded.
Chevron Chairman and Chief Executive John S. Watson said in prepared remarks that he believes an independent investigation of the accident "will show that this tragedy was preventable."
Chevron's drilling and well-control practices in deep water "are safe and environmentally sound," he said. He urged lawmakers not to use this incident as the basis for scaling back or shutting down "the many positive benefits of offshore development in the Gulf of Mexico and elsewhere."
A representative of Royal Dutch Shell, Marvin Odum, said in his prepared remarks that the company remains confident in its drilling expertise and procedures. He predicted that the Obama administration's decision to halt new deep-water drilling for six months will cost "thousands of jobs and billions in lost wages and spending."
Combined news sources: AP, Wall Street Journal
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