Taylor oil spill Taylor oil spill The 2004 Taylor oil spill is an ongoing spill located in the Gulf of Mexico, around off the coast of the U.S. state of Louisiana, which resulted from the destruction of a Taylor Energy oil platform during Hurricane Ivan. It was first brought to public attention when the contamination at the site was noticed in 2010 by those monitoring the nearby Deepwater Horizon oil spill. A later report by the Associated Press in 2015 challenged the estimates of the extent of the leak given by the company and the U.S. Coast Guard, which were then revised to
Deepwater Horizon oil spill pension fund managers (who have large holdings of BP shares and rely upon its dividends) accepted that while BP had to pay compensation for the spill and the environmental damage, they argued that the cost to the company's market value from President Obama's criticism was far outweighing the direct clean-up costs. Initially, BP downplayed the incident; its CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Later, he drew an outpouring of criticism when he said that the spill was a disruption to Gulf Coast residents and himself adding, "You