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
Oil spill governance in the United States Oil spill governance in the United States Oil spill governance in the United States is governed by federal law. The governance framework for oil spills in the United States prior to the Oil Pollution Act (OPA) of 1990 lacked proper consolidation and proved to be inadequate in preventing and responding to oil spillages. A timeline produced by the World Resources Institute (WRI) highlights some key events in oil drilling governance and regulatory system that ultimately govern oil spills in the United States. Although the OPA provides a framework for oil spillage governance recent events resulting in the BP deep water