BP CEO Tony Hayward is in the midst of a harsh grilling today on Capitol Hill, where he is testifying House Committee on Energy and Commerce hearing on "The Role of BP in the Deepwater Horizon Explosion and Oil Spill."
But not long after the hearing began, Hayward got something not many expected from lawmakers: An apology.
Rep. Joe Barton of Texas, the top Republican on the committee, apologized to Hayward for what he described as a "shakedown" at the White House yesterday. He was referring to the deal worked out between the Obama administration and BP to set up a $20 billion fund administered by a third party to pay for damages from the catastrophic oil spill in the Gulf of Mexico.
"I'm ashamed of what happened in the White House yesterday," Barton said. "I think it is a tragedy of the first proportion that a private corporation can be subjected to what I would characterize as a shakedown, in this case, a $20 billion shakedown."