Big Four Oil Forms $1 Billion Ventire to Fight Gulf Oil Spills

Four of the world’s biggest oil companies said Wednesday, July 28, that they have formed a new joint venture to fight deepwater gulf spills. The four oil companies are Exxon, Shell, Chevron and ConocoPhillips. Each will contribute 25 percent to a $1 billion company that would be able to mobilize a response within 24 hours to capture and contain deep-sea oil spills. The joint venture does not include BP. [B]Read more.[/B]