The deal was announced late Friday and prompted a federal judge in New Orleans to postpone a Monday trial, but the proposed settlement solves only one piece of BP's legal exposure from the worst environmental disaster in U.S. history.
With Republicans blaming his energy policies for higher gas prices and rising fears that U.S. gas prices could hit an average of $5 a gallon, President Obama on Thursday will renew a call Democrats make whenever oil prices rise that Congress repeal tax breaks for oil companies.
Human rights are front and center at the U.S. Supreme Court on Tuesday in two cases testing how American law intersects with international law. At issue in both cases is whether foreign nationals in the United States can sue corporations or other entities in U.S. courts for alleged violations of human rights.
The case that has corporate teeth chattering is a lawsuit against Royal Dutch Shell Oil, which is accused of aiding and abetting the Nigerian government in committing atrocities in the 1990s.
After a proposal to build an oil pipeline from Canada to Texas was denied by the Obama administration, TransCanada says it will start building the Oklahoma-to-Texas portion of the Keystone XL pipeline.
If you remember back in January, the administration told TransCanada to reapply for a permit on the 1,700 mile pipeline when it had plans to avoid the environmentally sensitive Sandhills of Nebraska.
Part two of a two-part series on the Keystone XL pipeline
Gas isn't like a rare bottle of wine that fetches a high price just because it's rare. But at the same time, no one can agree what drives gas prices. Demand for gasoline in the U.S. is at its lowest point in more than a decade; domestic oil production is at an eight-year high.