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NYT: Oil Companies Setting Up Spill Response System

The New York Times is reporting that four of the world’s major oil companies are planning to announce a plan tomorrow to put $1 billion into a rapid response

Jul 31, 2020
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The New York Times is reportingthat four of the world’s major oil companies are planning to announce a plan tomorrow to put $1 billion into a “rapid response” system for containing future oil spills.
Interestingly, BP is not among the four companies. The companies are Exxon Mobil, ConocoPhillips, Royal Dutch Shell and Chevron.
Update:This post has been updated to reflect the fact that the companies are creating a spill response system, not an emergency fund.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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