07/27/2010 - Robert Dudley, whose appointment as chief executive of BP was announced Tuesday, faces a long road to restore confidence in the embattled company — particularly in the United States, the biggest part of BP’s business.
Mr. Dudley during a tour of the Audubon Nature Institute’s turtle rehabilitation center in New Orleans.
Mr. Dudley, an American who has been with BP since it bought Amoco in 1998, faces myriad challenges: dealing with the costs and legal consequences of the spill in the Gulf of Mexico, repairing damaged relations with federal and state authorities, bolstering morale among BP employees and, perhaps critically, winning back investors. His job can be summed up simply as ensuring that BP survives its latest crisis and finds a way to move beyond it.
“I can’t think of any new chief executive of an oil company stepping into a more complicated situation,” said Daniel Yergin, the chairman of IHS Cambridge Energy Research Associates. “BP is going to be in a rebuilding mode, and the aftermath of the spill will go on for a long time.”
“If Congress wants to make sure bad actors don’t continue to get leases, then it is important it passes legislation to ensure that,” said Marilyn Heiman, director of the Offshore Energy Reform Project at the Pew Environment Group. “And it would help provide an incentive to industry to not cut corners.”
Read the full article, Road to New Confidence at BP Runs Through U.S. on the New York Times' Web site.
The Pew Environment Group’s offshore energy reform work is now a part of Pew’s Arctic Ocean Program.