FT.com / UK / Politics & policy - Cameron steps into fray to defend BP.
As the FT notes:
David Cameron, the British prime minister, has leapt to BP’s defence, emphasising the “economic value” the oil company brings to the UK and US, in a clear signal of British concerns over the rhetoric about the Gulf of Mexico oil spill.
Added value is hard to find when entire natural infrastructures and economies are being destroyed. Cameron is wrong.
Obama is right: BP must pay ever last dime.
Both need to say that this signals peak oil has happened.
Both need to say that this means it is time for the Green New Deal.
Both must support country-by-country reporting - the system of accounting that would show the in state resources of any company to deal with such a disaster and which must therefore become an integral part of their licence to operate.
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It seems to me like Obama is disguise his weaknesses by attacking “British” Petroleum and trying to turn this into some sort of anti-British thing. Seems a bit daft when the rig was operated by Transocean. Also, he seems to forget the huge amount of American employees of BP.
I also fail to see how country-by-country reporting would have any impact on this disaster. Perhaps you could explain?
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At no time has BP ever said they would not pay for the damage done.
Of course, I would expect there to be some issues to be faced in the future. What seems to be forgotten is that BP only owns 65% of the interest of that well…25% is owned by a much smaller US firm…you don’t see Obama having a go at them. I would be more concerned about their ability to pay!
What interests me most about this case is the risk management side of things. Was BP’s operating procedures adequate or were they ignored by the operator. Did the cracking of the well head concrete play a part and was the firm who put it in place (not BP) at fault. Who was responsible for ignoring the BP employees warning that the tests on pressure in the drill pipe were not acceptable (the advice was ignored with fateful consequences). Did the blow out protector fail and was the provider at fault? Was the blow protector switched off by the oil rig employees (not BP employees) and if so why?
Interestingly, Transocean have been in court fairly recently over another leak (not this one) and tried to get out of it by placing themselves in Chapter 11 it was turned down.
I could go on but clearly until a full investigation has been concluded no one can be sure who is responsible. In the meantime, BP are doing what they can but I think they could do a little more. Obama is clearly playing politics here…anything to do with his fall in the popularity stakes and his party losing votes in recent state elections? Of course not!