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Tony Hayward, BP’s Chief Executive has a lil something to say regarding the oil spill:

Eight weeks after an explosion uncorked a massive oil spill into the Gulf, BP does not know whether its efforts to stanch the flow will soon succeed, its CEO plans to testify Thursday. “We cannot guarantee the outcome of these operations, but we are working around the clock with the best experts from government and industry,” Tony Hayward says in prepared testimony to be delivered before the House Committee on Energy and Commerce Subcommittee on Oversight and Investigations.

“The explosion and fire aboard the Deepwater Horizon and the resulting oil spill in the Gulf of Mexico never should have happened — and I am deeply sorry that they did,” he says. In his prepared remarks, Hayward says, “When I learned that eleven men had lost their lives in the explosion and fire on the Deepwater Horizon, I was personally devastated.”

The committee’s chairman says Hayward should get ready for a whipping.

“Members are angry. Members are frustrated,” Rep. Bart Stupak, D-Michigan, told CNN’s Dana Bash. “They’re going to take his hide off, as they should.”

In his prepared remarks, Hayward says no one knows why the disaster happened.

“But whatever the cause, we at BP will do what we can to make certain that an incident like this does not happen again,” he says. So far, more than 400,000 barrels of oily water mix have been recovered, and the company has paid more than $90 million on the more than 56,000 claims that have been submitted, he says.

Additionally, about $16 million is expected to be paid this week to businesses, he says. In all, 32 walk-in claims offices are open in Alabama, Florida, Louisiana and Mississippi.

Nearly 700 people have been assigned the task of handling claims, he says. Hayward adds that though the cause of the disaster remains unclear, his company’s investigation suggests that the accident was caused by the apparent failure of “a number of processes, systems and equipment.” The transcript of Hayward’s planned remarks was given to reporters hours after he and other BP executives told President Obama that the company will set aside $20 billion in an escrow account to compensate oil spill victims.

The fund “will not supersede individuals’ or states’ rights to present claims in court,” Obama said. BP, he asserted, will remain liable for the environmental disaster in the Gulf.

BP also has agreed to create a $100 million fund to compensate oil rig workers now unemployed as a result of closure of other deep-water rigs after the April 20 Deepwater Horizon explosion, Obama said.

Hmmm…we’ll see about this one Tony, but he sounds like he’s talking a lot of ‘fluff,’ when he just needs to hurry up and get this ish cleaned up.

Via CNN

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