Cr Edit note: Iran does not quite understand American positioning on oil, it would seem. When in fact, our US Coast Guard could take out Iran's entire Navy in an Iranian effort to seal the Straits of Hormuz. But, it should be noted, Iran is just that… more »

BBC News Oil giant BP has acknowledged it is "absolutely responsible" for cleaning up a huge oil spill after an accident at one of its wells off the US coast. BP boss Tony Hayward said the company was preparing for a "worst case scenario" that the spi… more »