From day one, after this spill started, they were more concerned about their liability because they pay a fine per barrel of oil, than they were about sending out the proper warning about how catastrophic this could become.

They were not prepared. And, in the hearing that I conducted last week, it was very clear that none of the companies would be prepared who were drilling out in the Gulf of Mexico.

I guess he must have felt that it was time for him to go and to go for a nice sail on an ocean that BP has yet to despoil.

We now know in retrospect that when BP in the first week was saying that the spill was only 1,000 per day that they had an internal document in the first week that said it was 1,000 to 14,000 barrels per day. They did not any -- let anyone…

They thought a rig couldn't sink, and as a result they never had to put in place the response.

Yes, they were not preparing for a worst case scenario. They didn't have the boom. They didn't have the skimmers. They didn't put in place the protective equipment for the health of the workers who would be out there cleaning up this mess.

But I think it's important for the American people to know that BP has such a document because that will help us to ensure that we keep the pressure on BP and that we're also properly prepared.

If a hurricane ever hits this region with all of that water out in the Gulf, $20 billion will be just the down payment.

It's a very good first step, but that's all it is.

BP obviously does not stand for 'be prepared.' Yes, they were making it up.

They did not learn the lesson of the Exxon Valdez.

Right now, there would be no evidence to convict BP of being transparent.