September 15th, 2010
01:15 PM ET

BP's Hayward: Oil spill wasn't because of cost-cutting

Outgoing BP Chief Executive Tony Hayward denied Wednesday that cost-saving was the reason his company put only one blowout preventer on the well that exploded in the Gulf of Mexico in April, leading to one of the worst oil spills in U.S. history.

"There was no decision of that sort that was taken to save money," he said.

He said the blowout preventer that failed "should have functioned" and the industry needs to understand why it did not.

If it had worked as it was designed to, the consequences of the April explosion on the Deepwater Horizon "could have been very different," said top BP executive Bernard Looney.

Hayward insisted that the company encourages staff to speak up, saying BP focused on "creating the right environment so that people feel they can raise their hand and speak up with respect to safety."

The BP executives were testifying before a British parliamentary committee investigating the implications of the Gulf oil disaster on deepwater drilling.

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Filed under: BP • Gulf Coast Oil Spill
soundoff (5 Responses)
  1. kimberlee

    I've worked for many companies. When they say, "We encourage our employees to speak up", they are simply full of rhetoric. Speaking up will almost always ensure your job is toast as will be your reputation.
    OF COURSE IT WAS ABOUT THE MONEY!!!!

    September 15, 2010 at 1:45 pm | Report abuse |
    • ::: BreakingNewsBlog.us :::

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      has the Press already forgot the 9/11 of the Gulf of Mexico???
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      and... the tool able to stop the oil spill in the early days of May
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      http://ireport.cnn.com/docs/DOC-472981
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      September 16, 2010 at 8:37 am | Report abuse |
  2. KLL

    Who on earth believes Hayward when he says, "we encourage our employees to speak up?" HA! Now, that's definitely a lie.

    September 15, 2010 at 4:45 pm | Report abuse |
  3. wasntme

    What a fool like he has any creditable left.In his greedy twisted mind he still thinks he has done now wrong.What pathetic excuse of a human no moral or values and it says a lot about bp

    September 15, 2010 at 10:22 pm | Report abuse |
  4. Don W

    Hayward has a new disease: Mandibular Incontenance. Where's that shovel? BP wasn't listening to their employees, then; they won't, now!

    September 16, 2010 at 11:08 am | Report abuse |
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