BP oil disaster: Who made it that way?
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From: cuhulin on 26 Jun 2010 23:24 A good thing nowadays to invest money in is oil clean up stocks. stock market. cuhulin
From: hls on 27 Jun 2010 08:13 "Tegger" <invalid(a)invalid.inv> wrote in message > > You're aware that the US government /actively/ solicited bids for > drilling in the depwater Outer Continental Shelf? And you're > aware that BP was one of the successful bidders? Why shouldnt BP have been one of them? They are one of the large and previously well respected global companies. We really have no system for oversight.. At least nothing workable.
From: jim on 27 Jun 2010 08:33 Tegger wrote: > > "hls" <hls(a)nospam.nix> wrote in > news:comdnVaodIeiCrvRnZ2dnUVZ_qCdnZ2d(a)giganews.com: > > > > > "Tegger" <invalid(a)invalid.inv> wrote in message > > news:Xns9DA3C0C695310tegger(a)208.90.168.18... > >> What author Lawrence Solomon is alleging amounts to > >> criminally stupid behavior by US-government regulators. > >> > >> <http://opinion.financialpost.com/2010/06/25/lawrence-solomon-avertible-catastrophe/> > >> > >> > >> > >> > > > > It isnt the first hint of incompetence in the American government. > > We are experts at stepping on our "Johnsons". > > > > > > You're aware that the US government /actively/ solicited bids for > drilling in the depwater Outer Continental Shelf? And you're > aware that BP was one of the successful bidders? > > More reading for those interested: > <http://network.nationalpost.com/NP/blogs/fpcomment/archive/2010/05/08/lawrence-solomon-u-s-law-disaster.aspx> You and Pallin have raised self contradictions to a new level. So which is it... are you for off shore drilling or against? Are you for limiting torts or are you against Tort limits? Or is it a new day and you haven't picked which way to flip flop yet?
From: hls on 27 Jun 2010 11:04 "jim" <"sjedgingN0Sp"@m(a)mwt,net> wrote in message news:Eaudnf- > You and Pallin have raised self contradictions to a new level. So which > is it... are you for off shore drilling or against? Are you for limiting > torts or are you against Tort limits? Or is it a new day and you haven't > picked which way to flip flop yet? BP made the mess, and they should pay for it. I tend to agree with tort limits, but the $75 million that the government established is clearly not enough for cases like this.
From: jim on 27 Jun 2010 12:08
hls wrote: > > "jim" <"sjedgingN0Sp"@m(a)mwt,net> wrote in message news:Eaudnf- > > You and Pallin have raised self contradictions to a new level. So which > > is it... are you for off shore drilling or against? Are you for limiting > > torts or are you against Tort limits? Or is it a new day and you haven't > > picked which way to flip flop yet? > > BP made the mess, and they should pay for it. I tend to agree with tort > limits, but the $75 million that the government established is clearly not > enough for cases like this. The $75 million is already irrelevant. The total cost to BP may end up being more like $100 Billion (depending how long it takes to stop and how much oil is ultimately involved). BP probably won't pay the total cost because eventually they will split off the US operations/holdings and put them into bankruptcy. The sale of those assets will be used to pay for the remaining cleanup. And the taxpayers will pik up the tab if the liquidation of assets isn'gt enough. The whole purpose of corporations is to limit liability. It is extremely unlikely that any change in the law could have made the economic cost to BP any greater than it already will be. unless it would first abolish the whole concept of a corporation. It is also worth noting that the states of Louisiana, Texas, Mississippi and Alabama are receiving millions in oil company revenues for their share of the oil leases, as well as the tax revenues and jobs from hosting the oil companies infrastructure inside those states. Other states like Florida and California and those along the Atlantic coastline don't have exploratory drilling offshore because the people in those states are less willing to take the risks. If you remember just about every candidate or potential candidate in the last election was falling over each other trying to be perceived as the candidate that would best promote exploratory oil drilling inside the US boundaries. If you want to blame somebody, why not blame the American people. Where exactly do the voters think this oil will disappear to if we don't get it out of the ground and burned as fast as possible? And what do people think future generations are going to use for their energy source if we use up all that is easily available as fast as we possibly can? It is after all the vast wasteful consumption of energy that is main driving force behind pushing the technology to its limits. -jim |