BP stock prices again fell. By January 2007, the explosion, coupled with a pipeline spill in Alaska and production delays in the Gulf of Mexico, left BP's stock down 4.5% from its position prior to the Texas City explosion. However, by April 2007, stocks had rebounded 13% erasing the 8.3% loss from 2006. Declining oil prices and concerns over oil sustainability also caused shares to fall in value in late 2008. The Deepwater Horizon oil spill in April 2010 initiated a sharp decline in share prices, and BP's shares lost roughly 50% of their value in 50 days. BP's shares reached
Reactions to the Deepwater Horizon oil spill of one of the country's leading companies", to President Obama (text of letter) that expressed a concern over "double standards" compared to the sub-prime based banking crisis of 2007–2010 and over "prejudicial and personal" comments in the media. Initially BP downplayed the incident; CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Hayward also initially stated that the environmental effect of the Gulf spill would likely be "very very modest." Later, he said that the spill was a disruption to Gulf Coast residents and himself adding, "You know, I'd like