The Wall Street journal has reported that Exxon Mobil, Chevron, Royal Dutch Shell, and ConocoPhillips are planning to announce the formation of a joint venture to design, build, and operate a rapid response system to address the impact of a future oil spill in the Gulf of Mexico. The move by the oil majors is an attempt to structure a private sector plan that will mitigate concerns regarding lax safety standards that may have contributed to the Deepwater Horizon disaster.