Drill, baby, drill be tapped into." Republicans continued to use the slogan after the 2008 election. In 2010, however, the slogan received renewed attention because of the "Deepwater Horizon" oil spill, a major oil spill at a BP offshore drilling rig in the Gulf of Mexico. The spill caused extensive environmental damages and economic losses estimated in the billions of dollars. As a result, some proponents of "Drill, baby, drill" became embarrassed about their previous support. The slogan was parodied as "Spill, baby, spill", and "Kill, baby, Kill". Two senior Republican Senators, Jon Kyl and Pat Roberts, made comments attempting to distance themselves
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