AdvertisementOil Companies Create Spill Response SystemJuly 22, 2010Yuki NoguchifacebookEmailChevron CEO John Watson, Conoco Phillips CEO James Mulva and Shell Oil President Marvin Odum testify on Capitol Hill last month. The three business leaders, along with ExxonMobil's Rex Tillerson, have agreed to pool $1 billion to form a new company that would respond to offshore oil spills. (AP)