Commission issues Congress poor grade on oil spill

This Saturday marks the second anniversary of massive offshore oil spill in Gulf of Mexico from the Deepwater Horizon oil rig, the largest spill in U.S. history. On Tuesday, however, Bloomberg reports members of the presidential commission that investigated the spill lambasted Congress for its failure to act to prevent future spills.

The group had previously issued a report with a variety of suggestions for Congress, the Obama administration and major industry players. Though the commissions has officially disbanded, former members came together on Tuesday to issue report cards on how each of those three groups has followed up on the report's suggestions.

The administration received a 'B' largely on the back of efforts from the Interior Department to set new standards for offshore oil well construction, as well as the quick action taken to reshape the industry's oversight agencies.

The industry itself earned a 'C' for the creation of a new containment system, among other efforts, but Congress was given a 'D' on the basis that it has failed to pass any substantial legislation on the issue.

The New York Times reports BP also issued papers detailing a final settlement over the case on Wednesday, including as much as $7.8 billion in payments.

Some of the impacts of the Gulf oil spill are explained at PennEnergy's Research area.

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