b.p. admits to felony charges and agrees to pay the largest single criminal fine in u.s. history. we examine the legal resolution of the gulf coast spill, two years later. >> suarez: science correspondent miles o'brien asks an age old question. why do we sleep? the answer comes from an unlikely underwater source. >> no, you don't need more sleep? you're getting plenty of sleep right? are you getting plenty of sleep? yes. >> brown: china's new leader will head both the communist party and the military. we assess the change at the top in beijing. >> suarez: and we close with the story of volunteers stepping up to help victims of hurricane sandy in the borough of queens in new york. >> there's people who have been without attention for a long time. some with, some without running water. definitely without power. you know, so as time goes, it gets worse. and i'm afraid if we don't like, really get this situation under control. >> brown: that's all ahead on tonight's "newshour." major funding f

b.p. as investors need this week is the outlook for the company way that glazer is pretty fair to say they do because right now investors are not at all happy with the fact that b.p. has been trying to basically plug the hole in its reputation worldwide after the gulf of mexico oil spill that you mentioned earlier in the program indeed after the deepwater horizon incident b.p. has been doing everything possible to repair its. reputation and so far paid around thirteen billion dollars altogether in all the works and that includes four and a half billion that they've just recently paid when they basically pleaded guilty for the for this for this incident one point three in just criminal fines and that's a record some now in order to repair this investment kind of damage b.p. now has to look for some kind of options to keep its investors happy and indeed buy back is quite an easy one yeah but is it the only one is it the only option of buying back that well there is no alternative it is to ge

b.p. pleads guilty to felony charges and will pay more than $4 billion for damage caused by the "deepwater horizon" oil spill. >> tom: i'm tom hudson. china makes its once-a-decade leadership change just as the chinese economy faces pressure from outside and in. >> susie: and the fiscal cliff isn't the only uncertainty for c.e.o.s. the future of financial regulations with the c.e.o. of florida-based bank united. >> tom: that and more tonight on nbr! $4.5 billion and guilty pleas to charges of manslaughter and lying to congress. that was the admission today from b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. in its guilty plea, b.p. said it deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of

b.p. pleads guilty to felony charges and will pay more than $4 billion for damage caused by the "deepwater horizon" oil spill. >> tom: i'm tom hudson. china makes its once-a-decade leadership change just as the chinese economy faces pressure from outside and in. >> susie: and the fiscal cliff isn't the only uncertainty for c.e.o.s. the future of financial regulations with the c.e.o. of florida-based bank united. >> tom: that and more tonight on nbr! $4.5 billion and guilty pleas to charges of manslaughter and lying to congress. that was the admission today from b.p. two and a half years after the "deepwater horizon" disaster in the gulf of mexico. that disaster killed 11 people and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the m

b.p. supervisors were -- who were onboard the horizon on the day of the speculation with 23 criminal counts. 11 counts of involuntary manslaughter and alleged violences of the clean water act. the grand jury has also charged a former b.p. executive -- has charged him with hiding information from congress and allegedly lying to law enforcement officials. these and other matters remain open, including a separate civil action that's pending in federal court here in new orleans. we are looking forward to the trial, which is scheduled to begin in february of next year in which we intend to prove that b.p. was grossly negligent in causing the oil spill. in that lawsuit we are seeking civil penalties and a judgment that b.p. and others are liable for renewable costs and natural resource damages, exposetures that could although -- amount to billions of dollars. we remain as determined as every to hold those responsible accountable. in addition to my colleagues, we are firmly committed to combating

b.p. over the oil spill from 2010. here's the front page of the "houston chronicle" this morning. b.p. stock with $4.5 billion fines. the column notes that finally justice for 11 lyes lost. another headline, b.p. pleads guilty, a picture of the deep water horizon rig there from the incident. and want to take you to "the advocate" also in louisiana. oil firm to plead guilty to charges in death. b.p. agrees to pay out $4.5 billion in debt. and a day of reckoning arrives for b.p. on thursday. we'll read you the front page story from the "wall street journal" now. b.p. slapped with record fines. they agreed to accept criminal responsibility for the 2010 deep water horizon disaster that killed 11 workers and paid $4.5 billion in fines and restitution. the biggest fine ever levied by the u.s. justice department. but the oil producer still faces a costlier battle for the pollution unleashed when the drilling rig exploded in the gulf of mexico and caused the worst offshore oil spill in u.s. histor

can buy a serious share in the us and we will see the of b.p. instead of b.p. but it will be not maybe it will be not adjourn to ensure it will be really a new company. so that could indeed create a huge player on the market was because ross net right now is the biggest oil major after this deal with it and it could become at least twice as big ok i think this begs the question now that b.p. is dog itself out of this rather tumultuous relationship that it had will be paid whoa what would you say the difference is going to be with real sniffed it's going to be different a wall it will be different i'm sure of that because i'm sure that b.p. if that deal of course happens this is very too early to save indeed but if it does happen i'm sure b.p. has learned its lesson that basically a fifty fifty joint venture is something which is very slow and which is not flexible it's very hard to basically agree on things if you have an equal representation on the board of directors as was the case and. so basically they will learn from this and if they do choose to create a

b.p. with eleven counts of felony manslaughter. one count of felony obstruction of justice and violations of the clean water and migratory bird treaty acts in connection with the deep water horizon oil spill that began in april of 2010. b.p. has agreed to plead guilty to all 14 criminal charges including responsibility for the deaths of eleven people and the events that led to an unprecedented environmental catastrophe. the company has also agreed to pay $4 billion in fines understand penalties. this marks both the largest single criminal fine, more than $1.25 billion and the largest total criminal resolution $4 billion in the history of the united states. it's stands as a testament to the hard work countless investigators, attorneys, support staff members and other persons from the deep water horizon task force and state and local agencies who have worked to advance a complex and wide ranging investigation that began even before the oil well was capped. and it constitutes a major environm

but b.p. is as multinational as exxon as conoco phillips you as you pointed out two of the major oil companies have the same actually a major sponsors in terms of the shareholders so it's true that the u.s. is on course for massive expansion of its ability to drill for oil and its own domestic production whether that will lead to less international strife and war over natural resources such as oil i think is highly disputable and open to a lot of debate. really interesting i guess the debate is going to continue preservation you coming on the show that was chris williams a professor of physics and chemistry at pace university. and now to the skies of yemen which have become increasingly filled with united states drones but those unmanned aircraft are built to be joined by planes with pilots all of all of them financed by the u.s. that's right according to wired magazine the navy requested twenty five small planes for surveillance missions and yemen these aircraft resembles cessna's which are a

but b.p. is as multinational as exxon as conoco phillips you as you pointed out two of the major oil companies have the same actually a major sponsors in terms of the shareholders so it's true that the u.s. is on course for massive expansion of its ability to drill for oil and its own domestic production whether that will lead to less international strife and war over natural resources such as oil i think is highly disputable and open to a lot of debate. really interesting i guess the debate is going to continue precipitation you coming on the show that was chris williams a professor of physics and chemistry at pace university. all the government can come in and search your home without a warrant so should the same rules apply to searching your emails and cell phones that's a question congress is looking at today the senate judiciary committee has voted on making changes to the electronic communications privacy act the law passed in one thousand nine hundred sixty regulates how the government

scott, b.p.'s settlement with the department of justice ends criminal prosecution of the company, but b.p. could stale face another $20 billion in fines if it loses a civil trial next year. . >> pelley: manuel, thank you. one survivor was an engineer named mike williams. in an interview for "60 minutes," williams described his harrowing escape from the deepwater horizon. >> i've been left now by to 2 life boats. i looked at the captain, and i said, "what do we do now? by now, the fire is not only on the deck. it's starting to spread to the other deck. >> pelley: about eight survivors were left on the rig. they dropped an inflatable raft from a crane but with only a few of the survivors on the raft, it was launched, leaving williams, another man, and a crew woman named andrea. >> i remember looking at andrea and seeing that look in her eyes of... she had quit. she haddive again up. i remember her saying, "i'm scared" and i said, "it's okay to be scared. i'm scared, too." she said, what are we going

in fact b.p. was in position of numerous analysis where 5,000 was at the lowest end of the range and those same analysis had upper ranges that were many multiples of 5,000 barrels. according to our complaint b.p. executives made public statements in which they stood behind the flow rate of 5,000 barrels despite an ever growing body of evidence that the estimate was unreasonably low. they dismissed higher estimates reached by third party scientist and they realized it was nearly ten times the amount that b.p. estimated. the spill and concealment of the truth by b.p. caused devastating loss to the victims and environment and under mined the truth seeking function of congress. and by hiding the severity of the spill b.p. caused another type of harm that is our focus. harm to the shareholders, to the investing public and market all of which are entitled to transparent and complete and accurate information. the eyes of the world were on b.p. in the spring and summer of 2010, the company had an opportun

as part of a sum and the government still reserves the right to charge to two b.p. employees for manslaughter it will likely be too low level workers who will have to take the fall for the entire corporation and the industry there repeatedly ignored regulations and cut safety corners just to maximize their quarterly profits because there are two tiered criminal justice system one for the rich and one for everybody else rarely do corporate suits go to jail all together the settlement will do very little to change the corrupt scam that the oil barons are running on the american people as a spokes person for public citizen were stunned the settlement is pathetic but the point of the criminal justice system is twofold to punish and to deter and this does not in a tragic irony that proves public citizens point news broke on friday the day of another oil rig exploding off the coast of louisiana early reports indicate two workers are dead and another two workers are missing perhaps if our criminal justice system had taken swifter action against b.p. and followed through by

as part of the sullivan the government still reserves the right to charge two two b.p. employees for manslaughter it will likely be too low level workers who will have to take the fall for the entire corporation and the industry the repeatedly ignored regulations and cut safety corners just to maximize their quarterly profits because there are two tiered criminal justice system one for the rich and one for everybody else rarely do corporate suits go to jail all together the settlement will do very little to change the corrupt scam that the oil barons are running on the american people as a spokes person for public citizens were stunned the settlement is pathetic but the point of the criminal justice system is twofold to punish and to deter and this does not in a tragic irony that proves public citizens point news broke on friday the day of another oil rig exploding off the coast of louisiana early reports indicate two workers are dead and another two workers are missing perhaps if our criminal justice system had taken swifter action against b.p. and followed through by

the ban on b.p. will last until the company can prove it's capable of meeting federal business standards but can any oil company prove that it's operating in the best interest of the community now the planet is getting hotter and hotter faster and faster or republicans or will republicans continue just play politics and give big oil cover that's my pop cap and tonio attorney and host of ring of fire radio mike welcome back it's great great to have you with us more than ninety nine percent of all peer reviewed study. on climate change of firm that it's apennine and that were helping cause yet republicans appoint a climate change denier to head up the house science committee what's your take oh well tom my take is in three weeks i'm going to be in antarctica where a section of the southern polar cap the size of new york is breaking away from that from that pole the same way that we saw in eyes in greenland an entire ice ireland break away two years ago that was the size of manhattan while that cabot th

b.p. oil spill where eleven crewmen were killed in the rig explosion and more than one hundred million gallons of crude oil spilled into the gulf of mexico causing one of the worst environmental disasters in history well now it's two years later and this is the announcement mr holder made regarding a resolution to the disaster. b.p. has agreed to plead guilty to all fourteen criminal charges including responsibility for the guests of eleven people and events that led to an unprecedented environmental catastrophe the company has also agreed to pay for billion dollars in fines and in penalties. oh my god also four point five billion dollars in criminal fines acknowledgement that b.p. messed up so it's a good step toward justice right well not if you look at the details of the case you see even after the fines even after the holocaust of sea creatures caused by the spill b.p. continues to be awarded energy contracts in fact b.p. is still one of the leading providers of oil and gas at the pent

b.p. oil spill where eleven crewmen were killed in the rig explosion and more than one hundred million gallons of crude oil spilled into the gulf of mexico causing one of the worst environmental disasters in history well now it's two years later and this is the announcement mr holder made regarding a resolution to the disaster. b.p. has agreed to plead guilty to all fourteen criminal charges including responsibility for the guests of eleven people and events that led to an unprecedented environmental catastrophe the company has also agreed to pay for billion dollars in fines and in penalties. oh my god also four point five billion dollars in criminal fines acknowledgement that b.p. messed up so that's a good step toward justice. well not if you look at the details of the case you see even after the fines even after the holocaust of sea creatures caused by the spill b.p. continues to be awarded energy contracts in fact b.p. is still one of the leading providers of oil and gas at the pentago

the ban on b.p. will last until the company can prove it's capable of meeting federal business standards but can any oil company prove that it's operating in the best interest of the community now the planet is getting hotter and hotter faster and faster or republicans or will republicans continue just play politics and give big oil cover says my pop cap and tonio attorney and host of ring of fire radio mike welcome back . craig great to have you with us more than ninety nine percent of all peer reviewed studies. on climate change of firm that it's apennine and that were helping cause yet republicans appoint a climate change denier to head up the house science committee what's your take oh well tom my take is in three weeks i'm going to be in antarctica where a section of the southern polar cap the size of new york is breaking away from that from that pole the same way that we saw in eyes in greenland an entire ice island break away two years ago that was the size of manhattan while that cabot what t

b.p. oil spill where eleven crewmen were killed in the rig explosion and more than one hundred million gallons of crude oil spilled into the gulf of mexico causing one of the worst environmental disasters in history well now it's two years later and this is the announcement mr holder made regarding a resolution to the disaster. b.p. has agreed to plead guilty to all fourteen criminal charges including responsibility for the deaths of eleven people and events that led to an unprecedented environmental catastrophe the company has also agreed to pay for billion dollars in fines and in penalties. oh my god also four point five billion dollars in criminal fines acknowledgement that b.p. messed up so it's a good step toward justice right well not if you look at the details of the case you see even after the fines even after the holocaust of sea creatures caused by the spill b.p. continues to be awarded energy contracts in fact b.p. is still one of the leading providers of oil and gas at the pent

b.p. oil's paying $4.5 billion fine, settlement, in the case for the gulf coast oil spill. that news conference is scheduled for 2:00 p.m. eastern. we hope to take you there live. >> as you can see in that mob of folks from staten island and reporters the president is actually in new york. he came up just a bit earlier today and started his afternoon in new york with a helicopter tour above some flooded and burned out sections of queens and staten island. he made an aerial tour over the neighborhood that included the breezy point community where roughly 100 homes were burned in a massive fire during the storm. >> live here on staten island waiting to hear possible comments by president obama who's been touring parts of queens and staten island that were seriously damaged and affected by the aftermath of hurricane sandy, superstorm sandy as it's been called. we also hope to take you live shortly to new orleans where attorney general eric holder will speak about the government's $4.5 billion

b.p. oil spill where eleven crewmen were killed in the rig explosion and more than one hundred million gallons of crude oil spilled into the gulf of mexico causing one of the worst environmental disasters in history well now it's two years later and this is the announcement mr holder made regarding a resolution to the disaster. b.p. has agreed to plead guilty to all fourteen little charges including responsibility for the guests of eleven people and events that led to an. environmental catastrophe the company has also agreed to pay for billion dollars in fines and penalties oh my god also four point five billion dollars in criminal fines acknowledgement that b.p. messed up so it's a good step toward justice right well not if you look at the details of the case you see even after the fines even after the holocaust of sea creatures caused by the spill b.p. continues to be awarded energy contracts in fact b.p. is still one of the leading providers of oil and gas at the pentagon and while fami

scott, b.p.'s settlement with the department of justice ends criminal prosecution of the company, but b.p. could still face another $20 billion in fines if it loses a civil trial next year. >> pelley: manuel, thank you. ou. survivor was an engineer named mike williams. llian interview for "60 minutes," williams described his harrowing escape from the deepwater horizon. >> i've been left now by to two life boats. i looked at the captain, and i said, "what do we do now? by now, the fire is not only on now?deck. it's starting to spread to the other deck. >> pelley: about eight survivors ley: left on the rig. .hey dropped an inflatable raft trom a crane but with only a few on he survivors on the raft, it was launched, leaving williams, another man, and a crew woman named andrea. >> i remember looking at andrea and seeing that look in her eyes of... she had quit. she had given up. i remember her saying, "i'm scared" and i said, "it's okay to be scared. e'm scared, too." she said, what are we going to o

three b.p. oil company employees appeared in federal court today, heo of them charged with 11 counts of involuntary manslaughter. those are for the 11 crewmen killed in 2010 when the deepwater horizon explode excluded and sank in the gulf of mexico. the well ran wild for more than 80 days, unleashing the largest accidental oil spill in history. mark strassmann is covering the courthouse for us in new orleans tonight. mark. mark. >> reporter: scott, this prosecution moves away from the b.p. spill's environmental and economic impacts. instead, its the preventable deaths of 11 people. bob kaluza oversaw safety for b.p. aboard the deepwater horizon when the rig exploded. >> i did not cause this tragedy. i am innocent. and i put my trust, reputation, and future in the hands of the judge and the jury. >> reporter: donald vidrine, another b.p. senior supervisor aboard the rig, also pleaded not guilty. they were in charge of a test that indicated a combustible gas had seeped into well. the indictment al

continues to be awarded energy contracts in fact b.p. is still one of the leading providers of oil and gas at the pentagon and while families of the victims seek justice for those they lost both b.p. and the u.s. department of justice are very quick to pass the buck you see to b.p. workers are being accused of disregarding abnormally high pressure readings that indicated a potential for a bigger problem on the deepwater rig both of these men are being held personally responsible for the disaster and are being charged with manslaughter and that's exactly the problem here i'm not saying that negligent should shouldn't be punished what i am saying at that this is a perfect example of how a giant influential corporation can get away with pretty much anything and lay the blame on its employees instead of actually taking real accountability these two men are not the ones who decided to spray a highly toxic dispersant across the entire gulf that arguably caused more damage than the oil itself they weren't the ones that outsourced slave labor to

b.p. oil spill where eleven crewmen were killed in the rig explosion and more than one hundred million gallons of crude oil spilled into the gulf of mexico causing one of the worst environmental disasters in history well now it's two years later and this is the announcement mr holder made regarding a resolution to the disaster. b.p. has agreed to plead guilty to all fourteen criminal charges including responsibility for the yes of eleven people and events that led to an unprecedented environmental catastrophe the company has also agreed to pay for billion dollars in fines and in penalties. oh my god also four point five billion dollars in criminal fines acknowledgement that b.p. messed up so it's a good step toward justice right well not if you look at the details of the case you see even after the fines even after the holocaust of sea creatures caused by the spill b.p. continues to be awarded energy contracts in fact the e.p.a. is still one of the leading providers of oil and gas at the p

but b.p. is as multinational as x. owners conoco phillips. as you pointed out to the major oil companies have the same actually major sponsors in terms of the shareholders so it's true that the u.s. is on course for knots of expansion of its ability to drill for oil and its own domestic production whether that will lead to less international strife from war over natural resources such as oil i think is highly disputable and open to a lot of debate. really interesting i guess the debate is going to continue chris appreciate you coming on the show that was chris williams a professor of physics and chemistry at pace university and now to the skies of yemen which have become increasingly filled with united states drones but those unmanned aircraft aircraft are about to be joined by planes with pilots all of this financed by the u.s. that's right according to wired magazine the navy requested twenty five small planes for surveillance missions in yemen the their craft resemble cessna's which are also used for crop dusting and other short distance f

b.p. with eleven counts of felony manslaughter. one count of felony obstruction of justice and violations of the clean water and migratory bird treaty acts in connection with the deep water horizon oil spill that began in april of 2010. b.p. has agreed to plead guilty to all 14 criminal charges including responsibility for the deaths of eleven people and the events that led to an unprecedented environmental catastrophe. the company has also agreed to pay $4 billion in fines understand penalties. this marks both the largest single criminal fine, more than $1.25 billion and the largest total criminal resolution $4 billion in the history of the united states. tos stands as a testament the hard work countless investigators, attorneys, support staff members and other persons from the deep water horizon task force and state and local agencies who have worked to advance a complex and wide ranging investigation that began even before the oil well was capped. and it constitutes a major environmenta

b.p. had fines on the civil side. do you think that they were being scapegoated? do you think there is an effort to try to flip the lower level folks in favor of going after someone like the c.e.o. and should the c.e.o. be a target? >> oh, i can't speak to the guilt of the two that are charged at b.p., but one difference with massey is that it is going far higher up in the corporation. the president of a unit being charged and pleading guilty to felonies is an important step, but the prosecutors clearly have their eye on the c.e.o. at the time of the whole company. at b.p., that is not yet the case, but ultimately, it isn't who was guilty of the crime, it is who is the author of the culture and work patterns that result in these kinds of accidents that has to pay a price and be charged i think so we'll see what happens at b.p. >> before you were on, i was speaking with larry cohen and we were having a discussion about whether workers should be represented onboard of directors, whether it should be a requirement that there be some state. do you think we should be d

right now and b.p. stated that will pay money due to the spill. >> you concede traffic is looking good. >> it is 6:27 a.m.. >> a person that is familiar with the deal stated that b.p. has agreed to pay a penalty due to the 2010 oil spill. they stated that b.p. employees may face manslaughter charges over the people that died. the person stated that b.p. will plead guilty to obstruction of line to congress and about how much oil the was actually coming out of the whale. >> it is 6:27 a.m. and we are just three minutes away from opening bell. the nasdaq is getting ready to start trading. this fall and obviously in big trouble this morning. a lot of people asking how often she possibly be on the road with three prior do you i convictions. >> protesters under upset and over tuition costs having a meeting in san francisco. the finance committee meeting recently okayed the budget framework for the school year. the framework does the fan on the state giving the university fan additional $276 million. governor

b.p. is negotiating with gazprom to supply of russia's dals to britain by two thousand and sixteen that's according to the british press british prime minister david cameron reportedly discussed the idea with president vladimir putin when they met during the london olympics this summer under the plan b p m gal's problem would jointly build a pipeline from russia to the u.k. to discuss this and details let's cross over to the business desk where to be a as on top of the story so can you while watching the olympics it seems like our as it turns out we're playing their own the role of gas they. think they will have in their own games their own gas gains getting on a bit of business and pleasure are happening as you say really david cameron saying my thumbs are rob i will stream to come to britain i want to do business and it will be gas from the un's fifty one percent of the knowledge stream involved with the pain of david p.t. who is the head of b.p. russia has said allegedly that the talks

hang out with that is that there are david not your president adrian moore your b.p. good guys good crew and lots of integrity there so why are you here tonight what attracts you to this debate this movement that i see evolving here and and why are you here tonight well because you vitamin thank you very much you're both hosting this and via to me actually it's interesting tom mentioned beyond that it's actually the name of the first chapter in a book that i coauthored with reasons nick gillespie last year the talks specifically about this how do we get not just beyond the physical kind of reality of the democratic and republican camps and the candidates but how do we get beyond the thinking that kind of produces that or that or that it is that it isn't forced by this very stale you know the other guy's evil so i hate him type of thinking

vehicle and that's obviously a further nationalization and sack and experts say the mine of the b.p. would pay for rosneft stake would not go into the state bar just as the would be the case with the real privatisation. rosneft smart for company. the state old ross there for gossip would be the one who would require all of the cash ok china so as far as i understand it this is just the beginning of another state of the us nafta we own the market shortly providing the price is good is that right for her true. the point is katie that the good prices will be very very hard to get now because now ross and after with tim cave is a huge company we've over a hundred billion dollars capitalization and its shares should reflect this new capitalization of course draws near chairs group are on the back of the deal by about thirty percent but they still do not match this new capitalization of the company. like a ten year old so we got time for thank you so much marvelling i said i'm not all the complicated tough it was that we could be following ourselves thanks tonya ok all right then moving on

and b.p. is negotiating with gazprom to supply russia's gaz to grid by twenty sixteen that's according to the british press british prime minister david cameron reportedly discussed the idea with president flood doomer putin when they met during the london olympics under the plan b pm gazprom would jointly build a pipeline from russia to the u.k. to discuss this and more details let's cross over to the business desk point katie pilbeam is on top of the story so t.v. camera. are seeming to be playing their own game of ping pong aren't they exactly we know that who said he went over to london for the olympics and apparently it's then is where these talks took place between cameron and putin to do with the north train going to britain we know that gas from fifty one percent of that house was a choice because that is all a legit at the moment who got inside information on the head of b.p. russia david p.t. has apparently said that the talks already in early stages to do is going to be done and dus

b.p. has agreed to pay a record criminal penalty of $4.5 billion. attorney general eric holder says much of the money will be used to help restore the gulf. >>> president obama got a firsthand look at hurricane sandy's disaster zones on new york's staten island on thursday. the president consoled grieving victims and vowed to stick with them. >>> prosecutors in new york state are dropping drug possession charges against john bon jovi's 19-year-old daughter after her apparent state law. >>> and some former first children gave a texas audience an inside look at life in the white house. jenna bush haying ger reveals about having her first kiss on the executive mansion's first rooftop. steve ford talks about his mother complaining about having to cook dinner on the night gerald was sworn in. >>> let's take a check at wall street. the dow lost 28 points yesterday. the s&p was down 2. the nasdaq fell 9. overseas markets the nikkei shot up 194. the hang seng gained 50. >>> wall street will be watching today's first face-to-face fiscal cliff meeting. they p

along with the criminal penalties b.p. will have also pay more than half a billion dollars to settle claims with the sec. >> though oil spill will have cost b.p. nearly $42 billion. in addition three company officials are facing criminal charges. the executive issued a statement stating that they apologized and that their resolution reflects the they have accepted responsibilities for their actions. >> their legal woes are not over. under the clean water act they still may face of the penalties. this court battle can take years to sort out. >> and missouri a 20 year-old man may have planted a shooting at the twilight movie. he confessed after his mother tipped police. he said that he bought movie tickets but decided to target and wal-mart instead. he is being held on a $500,000 bond. to >> compensation amounts for victims of the all raw oxfam shooting stated that the families of the 12 victims there were killed. each will receive $250,000 and the six peoples that were hospitalized will receive $160,000.13 others will get $

coming up, the justice department brings down the hammer on b.p. over the gulf oil spill. >>> plus, 15 days after the storm, president obama returns to survey the damage and to lend some much needed emotional support. you're watching "early today." >>> well, here are some. stories making news this morning. b.p. has agreed to pay a record criminal penalty of $4.5 billion. attorney general eric holder says much of the money will be used to help restore the gulf. >>> president obama got a firsthand look at hurricane sandy's disaster zones on new york's staten island on thursday. the president consoled grieving victims and vowed to stick with them. >>> prosecutors in new york state are dropping drug possession charges against john bon jovi's 19-year-old daughter after measure her apparent heroin overdose. under state law she cannot be prosecuted for possession. >>> and some former first children gave a texas audience an inside look at life in the white house. jenna bush hager reveals about having her first kiss on the executive mansion's first rooftop.

that's obviously a further nationalization and sack and experts say the money of the b.p. would pay for all. no it would not go into the state bar just as would be the case with the real privatization but rossley of mars a company again state owned roth never figure out would get all the cash. store as i understand it correct me if i'm wrong this is just the beginning and another state of ross nast will be on the market shortly providing the prices get it right through about the point is k. through the good price will be very very hard to get now because of boston after we can cave in it is a huge company with over a hundred billion dollars capitalization and roughly half shares should now reflect this new capitalization in order to sell them well ok rosner chairs grew on the back of the deal but just about temporist sound means that still they do not match this new capitalization ok so how long are we talking about sequester. but experts i've spoken to say they're not too optimistic they say that. that could take very long time. could be years until ross next shares will

b.p. supervisors. b.p. leaders are charged with manslaughter in the death of 11 workers. they are accused of disregarding readings just before it exploded. b.p. is vice president of texas operation stated that they were charged separately because they concealed information from congress. they did not state to cumbrous, chagall was actually leaking. >> new this morning the u.s. economy grew by 2.7%. this is up from an initial estimation. this marks the best third quarter performance. the data states that companies spend more to build up inventory and what was are originally estimated. we also have news from them and will consume reports that stated that wireless carriers. >> at&t was last and the survey for customer satisfaction but it did top all the wireless carriers for the 4 g area. at&t customers reported that they have the fewest problems including the service interruptions and slow speeds. but when it comes to customer satisfaction they're still less. >> it is 8:26 a.m.. we will be r

it happened the day after b.p. agreed to pay record criminal penalties for the deep water horizon oil spill. >>trace: a developing story from the gulf of mexico and a search after an oil rig exploded this morning. it happened off the coast of louisiana 25 miles south of grand isle. houston-based black elk energy confirmed the blast occurred on their platform. the fire is now contained. they say they are using helicopters and boats to search for two people who are now missing. this blast comes a day after oil giant b.p. agreed to felony charges and record $4.5 billion settlement for the 2010 deep water horizon disaster. phil is live in south florida with more. what is the latest? phil: the search officially is continuing for those two workers. 11 of the workers that were taken by helicopter are being treated. several of them for very serious burns. the location of this oil-producing platform is 25 miles east, southeast, of grand isle, louisiana. according to investigators, the cause of the fire appeared to be worker

several government agencies however as you can see the markets in europe are down point eight percent b.p. is just down point one percent now when it comes to the currency markets the euro is picking up despite the fact that the eurozone has apparently slipped into double dip recession all together the seventeen nations are down point one percent in the first quarter that's after a decline of point two percent in the second quarter so indeed this is a recession whereas the russian ruble is well not so significantly changed against the dollar that the play and losing a bit of value against the euro in moscow trading now the russian markets managed to see a bit of a recovery one percent the very end of the first day session both b.o.t.s. and myself indeed added one percent despite the fact that oil prices descended at the end of the session on several factors first of all this the double dip recession in the euro zone and then the fact that. tensions escalating between israel and the palestinians are reducing the chances of a war between israel and iran so this is causing oil prices to go.