Last week's rig disaster and resulting oil slick in the Gulf of Mexico offered a reminder of just how accomplished oil giants have become at handling corporate crises, writes Jeremy Warner. Rather than trying to blame its subcontractor or shrug off responsibility, BP took swift action to mitigate the disaster's environmental impact, he notes. "Clean-up and compensation costs are expected to run to hundreds of millions of dollars, but failure to grip the problem would have ended up costing far, far more," Warner notes.

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