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Oil spill sparks criminal probe

Tue, 06/01/2010 - 6:28pm
Reuters

VENICE La./LONDON (Reuters) - BP Plc faced a grim future on Tuesday as its failure to stop a Gulf of Mexico oil spill prompted a plunge in the energy giant's shares and the Obama administration said it opened a criminal investigation.

President Barack Obama, struggling to get on top of the worst oil spill in U.S. history, vowed an overhaul of U.S. laws and regulations needed to prevent a repeat of the April 20 rig explosion that killed 11 people and triggered the spill.

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