2010 Gulf of Mexico Oil Spill Timeline (part 2 of 2): Saturday, May 29 40 days into the spill, the "top kill" method is abandoned because the mixture cannot overpower the pressure of the oil spilling from the leak. June Tuesday, June 1 Outrage ensues when Tony Hayward says, "I'd like my life back." BP shares plunge about 17%, losing $23 billion in market value; BP stock lost about $67 billion over the six weeks since the explosion. The U.S. Justice Department launches a criminal investigation into the initial explosion and the ensuing spill. Fishing restrictions increase to 37% of federal waters in the Gulf. Thursday, June 3 Technicians cut a riser pipe nearly one-mile under the surface and plan to then dome the leak and siphon the oil to a tank on the surface. As a result, the rate of flow increased by 20% beause the oil has less distance to travel to leak. Friday, June 4 President Obama cancels his trip to Australia, Indonesia, and Guam to make his third trip to the Gulf Coast. He voices his outrage at BP for spending millions of dollars on television advertisements. Saturday, June 12 President Obama speaks with British Prime Minister David Cameron about BP oil spill. The U.S. Coast Guard orders BP engineers to increase the rate of containment of the spewing oil; the consequences for failing to do so are not outlined, however. Sunday, June 13 BP officials state that the containment cap captured 15,000 barrels of oil on the previous day, bringing the total number of barrels captured by the device to 119,000. Monday, June 14 President Obama visits the Gulf for the fourth time in eight weeks. Congress and the Obama administration demand that BP halt paying dividends to its shareholders in order to ensure that the company will have money to pay for damages. BP says it will be able to siphon 40,000 to 53,000 barrels a day by the end of June. Tuesday, June 15 Oil executives are summoned to Congress to testify about the safety of offshore drilling and share their response plans for another such disaster. Leak estimates are increased to 60,000 barrels per day; this means 2.5 million barrels a day are spilling into the Gulf. At this rate, the amount of the ExxonValdezspill is reproduced every four days. That night, President Obama delivers a speech about the oil spill from the Oval Office. The speech, his first from the Oval Office, is watched by 32 million viewers. Wednesday, June 16 President Obama meets with top executives and lawyers of BP at the White House. He later announces that BP agreed to create a $20 billion fund to pay claims and damages. The fund will be run by Kenneth R. Feinberg, who oversaw the compensation for victims of Sept. 11. Thursday, June 17 Tony Hayward testifies before Congress. The U.S. Coast Guard reports that containment devices should be able to capture 53,000 barrels per day by the end of June. In the future, the collection of 60,000 to 80,000 barrels a day may take place with the successful implementation of a new, multi-hose well cap. BP recovers 25,290 barrels of oil, the most it has recovered in a single day. Rep. Joe Barton (R-Texas) apologizes to BP for being forced by the Obama administration to create a $20 billion fund, calling it a "shakedown." Under pressure, he later apologizes for his apology. Friday, June 18 Tony Hayward steps away from BP's response efforts and passes the responsibilities to Robert Dudley, the managing director of BP. Hayward still remains the CEO of BP. The Center for Biological Diversity files a lawsuit against BP, seeking monetary penalties for the disaster under the Clean Water Act. The Center calculates that BP's liability will be around $19 billion, assuming the spill continues into August. Saturday, June 19 Anadarko Petroleum, which owns a quarter of the well, denies any responsibility for the disaster. CEO Jim Hackett blames BP for "gross negligence." Sunday, June 20 Photos of Hayward with his son as a yacht race make their way into the US media and cause frenzy throughout the country. Tuesday, June 22 American Bob Dudley assumes control of the spill from Hayward at a major oil industry conference; Hayward is not present. Chief of staff Steve Westwell delivers a speech on Hayward's behalf and is disrupted as two Greenpeace protesters assume the stage. Wednesday, June 23 An underwater robot bumps into the wellhead cap which results in oil gushing unhindered for several hours. Friday, June 25 BP announces the cost of containing and cleaning the oil spill reaches $2.35 billion. Monday, June 28 The Guardian, a widely circulated British newspaper, publishes a protest letter signed by 171 critics, writers, and artists about BP's financial ties to the Tate Britain gallery. Later on, activists dump molasses over the gallery's steps during a party intended to celebrate ten years of BP sponsorship. Wednesday, June 30 Tall waves, created as a result of Hurricane Alex, halt clean-up efforts.