Formaldehyde is now classified as a carcinogen. But, despite the growing scientific consensus about how formaldehyde can affect human health, it remains to be seen if the studies will lead to tighter U.S. formaldehyde regulations.
The fines that oil companies have paid for offshore drilling safety violations are dwarfed by their profits. Fines against BP have been the equivalent of a rounding error. From 1998 through 2007, BP paid less than $580,000 in penalties for its 12 safety violations. Last quarter, the British oil giant turned a profit of $5.6 billion.