Report Says Sweeping Reforms Must Follow

The Telegraph reports that major oil firms like British Petroleum (BP) and Exxon will have to “pay more for insurance, spill prevention, better equipment and more thorough safety standards”, according to the official US Oil Spill Commission report. Reportedly, the report has also criticised the American Petroleum Institute (API), responsible for setting standards for equipment across the world, for being prejudiced.  
The Telegraph: BP oil spill report: Oil firms face big bills to raise safety standards (11 January 2011)

Related news items:
The Telegraph: BP oil spill report: the key points (12 January 2011)
The Telegraph: Gulf of Mexico oil spill commission calls for dramatic overhaul of offshore drilling (11 January 2011)
(Source: The Telegraph)