Oil Industry Plans Disaster Response System for Future Spills

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.

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