The company posted a fact sheet on its website today saying it took responsibility for the response to the Deepwater Horizon spill and would pay compensation for legitimate claims for property damage, personal injury and commercial losses.
Chief executive Tony Hayward told ABC's "Good Morning America" that BP is not responsible for the accident but is responsible for the oil and cleaning up the spill.
He says the equipment that failed on the rig and led to the spill belonged to owner Transocean, not BP, which operated the rig.
--BP Offshore Oil Disaster Information--
The oil spill disaster was caused by an explosion at an offshore drilling rig in the Gulf of Mexico. The leak is releasing some 5,000 barrels of oil per day, and efforts to manage the spill with controlled burning, dispersal and plugging the leak have been unsuccessful.
Today, the oil is still freely flowing from the offshore drilling rig, and once that oil hits one of the main ocean currents, the oil will quickly contaminate the rest of the world's oceans.
This oil spill could become the worst oil spill in history, surpassing the damage done by the Exxon Valdez tanker that spilled 11 million gallons of oil into the ecologically sensitive Prince William Sound in 1989.
Efforts to fight the offshore oil disaster still continue.
Environmentalists who originally opposed offshore oil drilling, feared an oil spill disaster as a potential worst-case scenereo. The BP Offshore Oil Disaster is quickly becoming that worst-case scenereo.
--More Information Online--