NYT: Oil Companies Setting Up Spill Response System
The New York Times is reporting that four of the world’s major oil companies are planning to announce a plan tomorrow to put $1 billion into a “rapid response” system for containing future oil spills.
Interestingly, BP is not among the four companies. The companies are Exxon Mobil, ConocoPhillips, Royal Dutch Shell and Chevron.
Update: This post has been updated to reflect the fact that the companies are creating a spill response system, not an emergency fund.