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Here Come The Ultimatums: House Rep. Stearns Asks BP President McKay To Resign
First step in assuming full control? Somehow we doubt the UK tabloids and general population will pass this one by.
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BP's non-US assets are now in play.
After nearly 60 days of Rectal Defilade, I think the resignations should be comng from D.C.............The Mouth being #1.
BP bashing is getting out of control.
For crying out loud, it was an accident.
A preventable accident.
But the cover-up was not.
BP to ZERO.
But all accidents are preventable in hindsight.
I think their biggest mistake was to drill for oil at those depths. Deep sea drilling is too risky using today’s technology.
... that makes it gross negligence
Government approved gross negligence.
Indeed. It needed to quench it's thirst for high octane fuel.
Don't forget that there Haliburton and Transocean were also involved.
I can't imagine that BP being the only non-American company involved could affect anyone's thoughts, could it?
Deep sea drilling is risky, sure - but so are thousands of other things that are done daily without mishaps. BP made several decisions to cut corners for costs at the expense of safety. It's all coming out and is documented. Had BP drilled and finished the well in the way that most other majors would have done, it would currently be a capped well ready to be producing in a controlled fashion as soon as a production platform was hooked up, and the GOM would be as clean as it had been in early April. There would not have been a disaster. This was not some "act of god," this was an easily preventable accident caused by extreme hubris, on multiple separate occasions, in the face of very obvious warning signs.
Another strong vote for The Oil Drum as a source of reliable information on this disaster and many related issues.
you mean gross, if not criminal negligence.
"For crying out loud, it was an accident..." of catastrophic proportions. Now go apply for the job as Obummer's Czar of Apologists.
I don’t know why you are dragging Obama into this. That platform was built way before Obama's time.
At any rate, I honestly think this was just a case of bad accident and threatening the current BP leadership won’t accomplish anything (at least not right now while the recovery efforts are in progress).
"Did you slay all those guards?!?"
"Oh, them, uh, oh yes, very sorry about that."
"They cost 300 pounds each!"
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Vehicular manslaughter is also an accident. It typically has consequences. Killing much of the life in the Gulf of Mexico? I hope that has consequences.
There is certainly a lot of piling-on right now, but BP deserves to suffer the consequences of its actions, which at this point in time appear to have been quite reckless, not merely negligent.
"For crying out loud, it was an accident."
Yup, in the same way that if I have a blood alcohol reading twice the legal limit and I get into my car and pile into a crowd of people, it's called an accident.
And please don't tell me it's not the same thing. How many people died on the rig? How many people will be adversely affected health wise before this is over? How much damage will be done to the GOM for how many years/decades?
It's exactly the same thing. BP made decisions based upon money while drilling at the edge of the envelope of deep sea production well development. Take a walk down memory lane of BP accidents over the past 10 years and you see the same thing. Where an accident resulted, the investigation showed BP was saving money in one way or another, either with delayed or avoided maintenance or cheaper business practices.
Well now CD,
Several years ago, some old fart plowed into a Farmer's Market here in Santa Maniac. He was unimpaired except by age, and probably prescription meds. He simply had a govt issued permit stating that he was fit to operate a motor vehicle...depsite what the investigation later found.
BP also partly made their decision based on mis-priced risk under limitations on liability amounts, set by....government.
I understand your point. But BP was not following best, no....strike that, even good practices when they made key decisions regarding that well. I'm not talking about the collusion with the various government and "regulatory bodies. I understand how that works. I'm talking about size of liner pipe, cement job, known problems with the BOP and so on.
Spend some time over at www.theoildrum.com where some very experienced people are discussing these issues. There is no doubt that plenty of blame can be spread around. But BP made decisions that were wrong, and in my view at least negligent and maybe down right criminal, and they were made based upon money. And then justified during and after the fact as within wiggle room. After you make several wiggle room calls, they add up and this is what we have.
I will care less what the "official" report says when it finally comes out because like all disasters that involved people in high places, it will be a political document written to blame everyone so as not to blame anyone.
yes, it was an accident. but no one knows if accidents are preventable. bp simply took advantage of lax regulations and oversight because they knew no one was watching the store. but that doesn't make them a criminal. no intent to injure, just profitize. like the rest of the colonized world. and our own gs.
Yes BP is to blame and has the ultimate responsibility.
Let the lawsuits fly and let the courts decide.
Obama can sue, but cannot dictate.
He's not a dictator yet!
Most reasoned response to date.
Plus a billion.
America seems to be convienantly forgetting it was a Transocean RIG and Haliburton who did the fail safe stuff.
America needs to stop placing ALL the blame in someone elses court. Have you ever seen the US be this out spoken about one of its own companys? As if.
BP was in charge of everything. Objections from many contractors to various decisions made by BP have been documented. So far there is nothing solid indicating that Transocean or Halliburton was at fault. This is BP's disaster unless new facts come out to say otherwise.
Agreed. As the BP USA president said to Congress, the buck stops at BP. They make the decisions, not the contractor they hire, even if they hire a floating rig with the contractor.
Fed and SEC in charge of all things financial no? How is Dow Chemical doing? Or do Indian demands for compensation not measure up to American's?
I sincerely feel for all the American's exposed to this, and all the wildlife and ecology wrecked. I really really like American people, I love NY, love Chicago and ADORE Utah (for the skiing, not the beer), I say enjoy being the chief consumers of energy on the planet, just don't be hypocrites.
I just hope you're directing that rage at your fellow american's in their 8 litre trucks sucking down wendy's and taco bells while watching one of several televisions in their air conditioned living rooms.
We are oil, it is our own demand that led to this, and it will happen again. If I were you guys I would be more scared of what your government is becoming and the pup of a president you have been sold turning into a rottweiller.
(1) 40 percent of BP shareholders are in the United States (http://www.cbsnews.com/stories/2010/06/10/business/main6567625.shtml).
(2) In the 1990's BP bought AMOCO (Standard Oil of Indiana, American Oil Company) and ARCO (Atlantic Richfield Company) which were giant, old American oil producers (both predating BP significantly).
(3) If the shareholders of BP want the profits, they're going to have to accept the risks and potential losses.
(4) If BP can't handle operating in the American market then they need to sell the company back to U.S. investors.
(5) All BP has to do is shut up and fix the leak. Nothing else matters.
Reductio,
"(5) All BP has to do is shut up and fix the leak. Nothing else matters."...........
Yep,I think we continue to NOT see the BIG picture here.
Why, was BP drilling at these depths?.,WHO was responsible for mandating NO more more shallow well drilling in the Gulf?.
Why are oil companies forced to do so?.
Answer those questions, and the blame game takes on another few faces,and Administrations.
and even beyond that everybody, business, and corporation has a responsibility to make decisions that would be prudent in the absence of legislation. Meaning just because there isn't a specific law does not mean it's their right to screw us.
Hell I think Halliburton is asinine, but even they told BP about the defects. It was BP that decided to continue onto the next steps, and I need not rehash all the horrible decisions they've made since then.
However Obama is acting like an idiot. While this isn't 3 days later Katrina bad is some respects, in others it's worse.
Might it have to do with BP's investment in Obama's CCX Climate carbon exchange? What happens to the CCX if Obama puts the screws to BP?
So in a sense, possibly, why is BP maybe going broke, when they'll hold a 20 percent stake in an eventual quadrillion dollar exchange within a couple of years (perhaps 10 years) of Cap and Trade. So the disaster, might actually be a net gain for BP.
Imagine that. BP makes trillions from spill. If you don't see that as a very real possibility, I've got some sparkling clean water from the gulf to sell you as mineral water. Of course, they have to pass cap and trade.
Yep sounds about right in this effed up casino.
There are a lot of very disruptive things that a $Billion company can do with their assets... especially if they have nothing to lose.
+1
A grandstanding jackass will demonstrate its lineage at every opportunity. The great abundance of them is what makes polotics such a competitive occupation.
Not sure what that would solve.
The regime needs BP. BP needs the regime.
The is the Gulf of Mexican Standoff. Everyone has guns pointed at one another. When the first shot rings out, everybody dies.
Pull the trigger, assholes!
At least subsidiarity is beginning to come in to play. I'm heartened to see stories like this one:
http://www.thedestinlog.com/news/pass-30005-nwfdn-command-plans.html
The last thing Bush-in-Blackface wants is total control and responsibility.
Reminds me of South Park: You should resign, MKay.
Anyone got a list of natral disasters perpitrated by US companys around the world? must be long!
And yes im British for anyone wondering and i do deel sorry for whats happening and yes BP is to blame, but im afraid the buck doesnt stop there.
The U.S. is fast becoming the riskiest place in the world to do business. Retroactive law-making, extortion, slander... Russia, Venezuela... Ha! Child's play - make room for the new Number One.
Precisely! Which is why the risk premium for investing in Canada, comparatively speaking, over the USA, should evaporate in the coming years, if it hasn't already.
The clock is ticking!
Obama and Co. are going to fundumentally transform the country alright. Ala Hugo Chavez. Yes! He was also elected and so was Adolf.
He is not gonna let this disaster go to waste. The rest of the oil co's are next.
Enjoy while you can.
BP +3%, up 5% from day's low
Is BP the new Yukos?
Gulf oil disaster: a trillion-dollar corporate crime
"The oil disaster in the Gulf of Mexico is a corporate crime whose magnitude almost defies comprehension. The eventual cost—combining damage to complex Gulf and coastal ecosystems, wiping out of the fishing and tourism industries, and long-term health consequences for the population of the region—is likely to total over $1 trillion..."
http://www.wsws.org/articles/2010/jun2010/pers-j15.shtml
Gulf Oil Spill "Could Go for on Years and Years"
http://www.globalresearch.ca/index.php?context=va&aid=19660...
In the future all operators of wells drilled in the GOM will be required to guarantee that any and all impacts of any spill can be immediately resolved and no oil from the spill will reach the shoreline. Of course it is impossible to guarantee that there will no impact on any spill. Therefore the future of offshore drilling is highly questionable. Risk management is not acceptable. No risk is acceptable to many in Congress and a no risk environment must be guaranteed by the oil companies. However, importing oil in tankers brings many risks including higher gasoline costs and weaking financial conditions at the Treasury.
When all GOM drilling stops it will help the US employment picture as Americans will be employing the homeless to push their SUV’s back and forth to work.
I suggest BP apply to become a bank-holding company ASAP.
It's almost worth loosing every penny I have invested in BP just to watch the US government go full retard like they did today. Enjoy your $10 gas LOL.
Take the figure for the dollar amount which Exxon paid for each barrel spilled from the Valdez and apply that to BP. BP should be punished just as severely as Exxon
BP a British company has rights to some of biggest US oil reserves.....locals only boyz Obamasan is pulling your card...I bet Halliburton stays in the game though. HMMM higher oil prices could contribute to inflation targets, elevate GDP and retail sales stats. GROWTH at all costs
Watching BP twist the legal system and screw the injured parties again on settlements will be more torturous than the GOM spill and damage.
I certainly think BP should get the "lions share" of the blame, but if a company such as a Haliburton knew what was going on and what could have potentially happened, they should have probably informed the proper authorities-or better yet, not bid and/or pull out of the particular project.
They knew it was bad, yet basically said "'ell, if it goes, its basically not our problem".......
IMHO and YMMV.....
Yeah, seizing BP will solve everything. How pathetically banana republic the US has become. That lawless thug currently occupying the White House is an international disgrace.