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you have a point, that the congress has a role in oversight and setting energy policy. you are looking at bp ceo tony hayward. he just enared the hearing room and he will be grilled and will offer an opening statement in which he apologizes. i want to continue to the conversation. congress has an oversiblt obligation. they should look in the mirror because they have promised for a long time going back to jimmy carter that they have not delivered to the american people on the energy always. i want to talk about the industry that you have worked in for some time because one of the seeds of this disaster is it what many describe is an incestuous relationship between the oil industry and the mms, which is supposed to regulate that agency, a revolving door of people going through, corruption and bribery and the like. when you were leading shell oil is that a fair characterization of the relationship? ....
Will be complimentary to mr. hayward and bp. the question is when we get to him and the questioning, this is a committee that has thousands of pages of documents from bp. the committee believes what happen order this rig was negligent, if not criminal. they say it was behind schedule, overbudget, pressure to get the job done and leaders on the rig, bp officials ignored warnings from the staff that they had a problem and should shut things down. mr. hayward is the ceo of a publicly traded company whose stock has fallen in value by half since the disaster. anything that he says will affect the value of the company. there are criminal investigations of the company and potential of dozens of civil lawsuits. anything he says can and will be used against him in a court of law down the road. so this is a ceo who while he has to be there, he understands his obligation to the american people to testify before the congress, he s going to be very, very careful. he s also a guy, though, this is wh ....
Knowledge mistakes were made. he s really got to expect that he will be the subject of a firing squad. reporter: he certainly should. if he was listening to anything that the senior members of the committee were saying, especially there democrats before happened, i talked to the chairman of the committee holding this hearing at the top of the hour. i asked him about the fact that tony hayward the man before him, will be sitting alone at the witness table, has sort of become not only the poster child but in many ways the villain of this whole drama and disaster. he said whether or not that s true, he said he is not sure but bart stupak did say that he s worried and warning tony hayward not to come before this committee as a typical corporate at executive saying he s sorry, saying he didn t know dash congressman stupak and other members of congress here say they are not going to stand for that and they want answers to what happened and what led to this explosion. almost feels like he ....
Release and 375,000 and then it was adjusted from 15,000 to 19,000 and this week we are talk about about 2.5 million gallons today a day, 17.5 million gallons per week and over the disaster, it could be up to the level of the largest release of oil in the north american continent in history unintended. one of the things that i think we need to know about today is the decisions that your company made. you re listening to the continuing statements of the house subcommittee hearing today. tony hayward will testify shortly but first each member of the committee gets to make a statement. the congressman said he would not lecture but has a list of questions. we have heard democrats mostly scornful saying under mr. hayward bp had a culture of ....
Job and this subcommittee has been focused on gathering facts rather than rushes to judgment. we have begun to identify a number of serious questions about bp s decision making that led up to the disaster. exploring these and related questions today will epius identify. you are watching our special coverage of the house subcommittee hearing. tony hayward and the ranking member giving his opening statement and of course on the left of the screen why we re here, the continuing leaking and spewing of millions of gallons of oil into the gulf of mexico. our first wow of the hearing came up a short time ago. joe barton, republican, from the houston area apologized to will hayward for the shakedown of forcing bp to put up $20 billion in an escrow account before we knew the answers of what had gone wrong and what should be done to hear with it. ....