BP Finally Admits Gulf Spill Is a 'Catastrophe'

A top BP executive has finally admitted what critics have been saying for days — the oil spill in the Gulf of Mexico is an “environmental catastrophe.”
BP had previously maintained that the impact on the Gulf would be modest. But in an interview with CNN on Friday, BP’s Chief Executive Officer Tony Hayward said:

“This is clearly an environmental catastrophe. There is no two ways about it . . . It is clear that we are dealing with a very significant environmental crisis and catastrophe.”

The massive spill is now estimated to be twice the size of the Exxon Valdez tanker disaster.