Bill O'Reilly Condemns NY Times, MSNBC For 'Exploiting' AZ Shooting

Bill O'Reilly last night attacked the New York Times and MSNBC over their coverage of the mass shooting in Arizona. He called Monday's editorial in the Times "flat-out reprehensible." As for MSNBC, O'Reilly said "the hatred spewed on that cable network is unprecedented in the media.

Experts: Gulf Well Has Enough Oil To Gush For Years

Experts tell the Guardian that the Deepwater Horizon well may have enough oil to gush for two years, if it's not stopped. BP and federal officials expect two relief wells, which are scheduled to be done in August, to enable them to permanently cap the leaking well.

Larry King To Hold Gulf Response Telethon

The two-hour telethon is scheduled for Monday from 8 to 10 p.m.

Inhofe Pines For Bush's Katrina Leadership

Sen. James Inhofe (R-OK), the ranking member of the Committee on the Environment and Public Works, in an interview to Newsmax:

"Remember the criticism George Bush got during Katrina? They said it was a lack of leadership. Let me tell you, that leadership looks pretty good right now."

Inhofe also gave a preview of what energy legislation would look like under a Republican-controlled Congress:

"Republicans, I believe, are going to take over the House and the Senate, and when that happens one of the first things I will be doing is saying let's start exploiting the resources we have in America so that we can be energy independent, and quit worrying about all this green stuff that might come along 20 years from now or sometime in the future."

(H/T Think Progress)

BP: Hayward Still In Charge

A spokesman for BP tells CNN that Tony Hayward is still in charge for the time being, and that "nothing has changed."

CNN: Second GOP Rep Asks Barton To Step Aside

CNN is reporting that a second Republican congressman, Jo Bonner of Alabama, has asked Rep. Joe Barton to resign his post as ranking member of the Energy and Commerce Committee after apologizing to BP yesterday.

BP Had Been Planning To Hand Operations To Dudley

BP announced earlier this month that Bob Dudley would take over day-to-day operations from Tony Hayward, with Hayward going back to London to oversee the rest of the company, according to news reports.

VIDEO: Hayward Handing Over Day-To-Day Response Operations

BP Chairman Carl-Henric Svanberg said today that CEO Tony Hayward -- the day after he gave hours of testimony to a House energy subcommittee -- is handing over day-to-day operations relating to the Gulf response to Bob Dudley, the company's managing director.

Watch:

BP Chair On CEO Hayward: 'It Is Clear Tony Has Made Remarks That Have Upset People'

"This has now turned into a reputation matter, financial and political and that is why you will now see more of me," BP Chairman Carl-Henric Svanberg also said.

Report: BP CEO Tony Hayward Handing Over Day-To-Day Gulf Responsibilities

Sky News reports that BP Chairman Carl-Henric Svanberg said that Hayward "is now handing over the operation to Bob Dudley." Dudley is BP managing director.

BP Capturing 25K Barrels A Day

Via the AFP: "BP and US authorities were capturing 25,000 barrels of oil per day from the massive Gulf of Mexico spill, marking steady improvement in recovery efforts, the admiral in charge of the operation said Friday."

The most recent government estimates say 40,000 to 60,000 barrels of oil are leaking into the Gulf every day.

Coast Guard Defends Grounding Barges

From the Daily Caller: "Sixteen crude-sucking barges are back in the Gulf of Mexico working to clean up oil, but the Coast Guard is defending its decision to ground the vessels because it couldn't verify whether there were fire extinguishers and life vests on board.

"The Coast Guard is not going to compromise safety ... that's our No. 1 priority," Coast Guard spokesman Robert Brassel said.

READ James Cameron's Ideas For The Oil Spill (PDF)

The government this week released recommendations made in a recent meeting with deep-sea specialists, including Titanic director James Cameron.

Hayward In Four Minutes (VIDEO)

Over at the Huffington Post, they've condensed all of BP CEO Tony Hayward's testimony yesterday into four minutes. Watch.

WaPo: BP Lobbyist Fundraisers For Lawmakers Continue After Spill

The Post reports that lobbyists who represent BP have continued holding fundraisers for members of Congress.

Liberals Threaten To Oppose Energy Bill Without Climate Change Language

Via The Hill: Liberal Democrats in the Senate, including Frank Lautenberg and Sheldon Whitehouse, are saying it would be difficult to vote for energy legislation if it does not address climate change.

GOP Has Defeated Unlimited Cap Four Times

Via Politico: "Democrats attempted Thursday to create unlimited liability for oil companies, and for the fourth time since the Gulf crisis began, Republicans objected."

Sen. James Inhofe objected to a Democratic request for unanimous consent for unlimited liability.

BP Won't Go Bankrupt

WaPo reports that BP has enough oil, and makes enough money, to remain solvent throughout the Gulf response and recovery.

"The U.S. government will become insolvent before BP does," said one stock analyst with Nollenberg Capital Partners.

How Joe Barton Managed To Have A Worse Day Than Tony Hayward

Rep. Joe Barton (R-TX), the ranking member of the House Energy and Commerce Committee, went out on a limb today to do something maybe no other American would think to do: He apologized to BP for having to put $20 billion into a fund for Gulf spill damages. Only Barton called it a "slush fund" and a "shakedown."

And That's A Wrap

Today's House Energy and Commerce subcommittee hearing is officially over.

Barton: Biden 'Has The Right To Free Speech'

Vice President Joe Biden said earlier today that Rep. Joe Barton's comments on the "tragedy" of BP's $20 billion Gulf spill fund were "outrageous" and "insensitive." Barton's response?

"The vice president has the right to free speech," Barton told CNN. "I respect the vice president."

Barton: 'I Had A Prepared Statement -- But That's Not The Statement I Used' (VIDEO)

Rep. Joe Barton (R-TX), who apologized to BP this morning for the "tragedy" of its $20 billion Gulf spill fond before retracting his apology this afternoon, told CNN that he "had a prepared statement, but that's not the statement that I used. It was an extemporaneous statement."

While it's not completely clear what exactly Barton was referring to, it sounds like he's saying his apology to BP was on off-the-cuff remark rather than a prepared speech.

Watch:

BP Shares Zigzag During Hayward Testimony

Via the AP: "Shares of BP PLC zigzagged up and down on Thursday as the company's CEO tangled with lawmakers over the cause of the well blowout in the Gulf of Mexico."

House GOP Leaders: Barton Was Wrong

House Republican leaders Boehner, Cantor and Pence released a statement saying Barton's comments today were "wrong:"

"The oil spill in the Gulf is this nation's largest natural disaster and stopping the leak and cleaning up the region is our top priority. Congressman Barton's statements this morning were wrong. BP itself has acknowledged that responsibility for the economic damages lies with them and has offered an initial pledge of $20 billion dollars for that purpose."

Barton Apologizes For Apology (Sort Of)

Questioning Hayward, Rep. Joe Barton explains his earlier remarks:

"I want the record to be absolutely clear that I think BP is responsible for this accident, should be held responsible, and should in every way do everything possible to make good on the consequences that have resulted from this accident. And if anything I said this morning has been misconstrued in an opposite effect I want to apologize for that misconstruction."

Gibbs: Obama 'Shook His Head' Over Barton

White House Press Secretary Robert Gibbs said today that President Obama, upon hearing Rep. Barton's apology to BP, "shook his head" and said, "I can't understand why anybody would say that."

Miller Disagrees With RSC Characterization, Too

A spokesman for Rep. Jeff Miller (R-FL), the congressman who called for Rep. Barton to step down as ranking member of the energy committee, drew a distinction between Barton's comments and those made yesterday by the Republican Study Committee, of which Miller is a member.

The distinction, his spokesman told TPM, is that the RSC didn't offer any apology to BP. He did say that Miller would disagree with the phrase "Chicago-style shakedown," which is how the RSC described the escrow account in a statement.

Miller, whose district has been impacted by the oil leak, has been vocal in calling for an escrow account.

Hayward Grilled On Whether Account Is 'Shakedown'

Questioned on whether he believes BP was "shaken down" for the $20 billion escrow account, Hayward sidestepped, saying only that BP and the White House worked together to find a "way forward."

Markey: Are There Plumes Of Oil Underwater?

Rep. Markey (D) asked Tony Hayward whether he would admit that there are giant plumes of oil underwater. Hayward responded that data shows that there is some oil, at the concentration of 0.5 parts per million, underwater.

Florida GOP Rep Calls For Barton To Resign Committee Post

Rep. Jeff Miller (R-FL), who represents Pensacola, has called on Rep. Joe Barton (R-TX) to resign as ranking member of the House Energy and Commerce Committee.

Miller said in a statement:

"I condemn Mr. Barton's statement. Mr. Barton's remarks are out of touch with this tragedy and I feel his comments call into question his judgment and ability to serve in a leadership on the Energy and Commerce Committee. He should step down as Ranking Member of the Committee."

Poll: Americans Rank Economy, Jobs Ahead Of Gulf Recovery

A new Gallup poll shows that more Americans think the economy and jobs are the most important problems facing the country, ahead of the Gulf's recovery from the BP oil leak. 28% said the "economy in general" is the most important problem, and 21% said it was "jobs/employment." 18% said "natural disaster response/relief."

Cornyn Comments On Barton

Asked about Rep. Barton calling the escrow account a "shakedown," Sen. John Cornyn, chair of the NRSC, responded that he's glad the money's there but understands where Barton is coming from. Cornyn:

"I think it's comforting to know that there will be resources set aside and available to pay for legitimate claim."

"I think it's good that there's going to be some money there, I don't know whether it's going to be enough money to pay all the claims. They should pay the legitimate claims. But the part that Representative Barton is expressing some concern about, that I share the concern, is this has really become a political issue for the President and he's trying to deal with it by showing how tough he's being against BP. The problem is BP's the only one who really is in control of shutting down this well, and he's trying to mitigate, I think, his own political problems."

Hearing In Recess Until 2

Burgess Calls For MMS Officials To Appear

Rep. Burgess, the ranking member of the subcommittee, just lamented the fact that the Minerals Management Service officials are not at the hearing. Stupak responded that they are taking a methodical approach to the investigation.

Burgess' argument is that Hayward "is not prepared to answer the questions and we need to get MMS in here to do that as well."

Stupak responded that "MMS is not gonna help Mr. Hayward answer the questions Mr. Hayward has to answer the questions himself." Stupak then gaveled the hearing into recess over Burgess' objections.

Hayward Outlines Investigation

Hayward says seven areas are part of BP's investigation into what happened on the Deepwater Horizon: the cement, the casing, the integrity pressure, well control procedures and three failures of the blowout preventer.

He is declining to answer most of the specific questions about what happened, saying he can't make a judgment until the investigation is complete.

Sullivan Comparing BP's Safety Records To Other Co.s

Rep. Sullivan (R) is comparing a time period in which BP got 700+ safety violations to other oil companies, who each got a handful of violations in the same period.

Hayward responds that that time period was in 2005 and 2006, and that much has been changed since then.

Poll: 59% Disapprove Of Obama's Handling Of Oil Leak

A new CNN poll, conducted yesterday, finds that 59% of American disapprove of President Obama's handling of the Gulf oil disaster. 41% approve.

Report: BP In Talks To Offer $10B In Debt To Raise Money

CNBC reports that BP is "in talks with five investment banks--Goldman Sachs, Morgan Stanley, Credit Suisse, Blackstone Stone Group, UBS AG--for a $5 to $10 billion corporate debt offering.

This could happen as early as next week. "

Burgess: I Am Not Going To Apologize To You

Rep. Mike Burgess (R-TX), the ranking member of the subcommittee, tells Hayward he won't apologize and, in a hit at Barton, that apologies are not in order.

Stupak: 'Who Are We Gonna Hold Accountable Here?'

Hayward responds that BP is working to change its corporate culture, but there is more to be done.

Hayward: As CEO, 'I Have Focused On Safe, Reliable Operations'

Hearing Resumes

Stupak begins the questioning.

Boehner Seeks Distance From Barton (VIDEO)

In a Fox News interview just after Rep. Barton called the escrow fund a "shakedown," House Minority Leader John Boehner distanced himself from the comments.

Anchor: "Would you call it a shakedown?"

Boehner: "I have said since the beginning that BP oughta be responsible for all of this cleanup. The fact is that they've agreed to put this $20 billion in escrow. I don't know what context Mr. Barton was making that remark, but I'm glad that BP has accepted responsibility for their actions."

Gibbs: Barton's Comments 'Shameful'

White House Press Secretary Robert Gibbs has already responded to Rep. Barton's comments that the escrow fund is a "tragedy" and a "shakedown." Gibbs:

"What is shameful is that Joe Barton seems to have more concern for big corporations that caused this disaster than the fishermen, small business owners and communities whose lives have been devastated by the destruction. Congressman Barton may think that a fund to compensate these Americans is a 'tragedy', but most Americans know that the real tragedy is what the men and women of the Gulf Coast are going through right now. Members from both parties should repudiate his comments."

Hearing Recesses For 30 Minutes

Stupak calls for a half hour recess. Questions will begin at noon.

Hayward: 'We Need To Know What Went Wrong'

Hayward says he authorized an investigation 24 hours after the Deepwater Horizon explosion, and plans to share its findings. He cautioned, however, that it's too early to know exactly what happened.

Hayward Describing Escrow Fund

Hayward goes off prepared testimony to mention escrow account. He doesn't call it a "shakedown." Says he hopes it helps people in the Gulf "feel that we're on the right track."

Hayward Begins

Read his testimony here.

Protester Interrupts Hayward

A protester immediately begins screaming over Hayward and security is forcibly trying to escort her out.

VIDEO: Barton's Opening Statement

Watch video of Rep. Joe Barton (R-TX), ranking member of the Energy and Commerce Committee, apologize to BP and call the $20 billion escrow fund a "shakedown."