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Topic:
BP controversy
GardenMan
(1,332 Posts)
Posted:
20-Jul-2010 13:00
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http://uk.finance.yahoo.com/news/bp-to-continue-test-as-seepage-unrelated-to-well-reuters_molt-5f7814232539.html
I think this is the first topic on BP, here we go. American anger at this co. is growing by the hour (the release of the Lockerbie bomber has not helped either ) . See the adjoining link, US officials have told BP that they can keep the cap on the oil well. The crux of the matter is this, BP really wanted to keep this cap in place because if it came off they`d be at serious financial risk*. Apparently there is some methane leaking into the sea bed and this is unrelated to the original leak. (thus the permission from the US scientists to fix that independently ) Under the clean water Act, BP could face a penalty of up to $4300 per barrel spilt*. Consider that BP has underestimated the volume of oil that has originally spilt into the gulf, they dont want to take the cap off because then the US scientists can get perfectly accurate numbers relating to the subsequent compensation claims.
updete d article
http://www.bloomberg.com/news/2010-07-19/bp-well-s-valves-will-remain-closed-as-leaks-inconsequential-allen-says.html
the_squinting_eye
(330 Posts)
Posted:
20-Jul-2010 13:11
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Originally posted by GardenMan:
http://uk.finance.yahoo.com/news/bp-to-continue-test-as-seepage-unrelated-to-well-reuters_molt-5f7814232539.html
I think this is the first topic on BP, here we go. American anger at this co. is growing by the hour (the release of the Lockerbie bomber has not helped either ) . See the adjoining link, US officials have told BP that they can keep the cap on the oil well. The crux of the matter is this, BP really wanted to keep this cap in place because if it came off they`d be at serious financial risk*. Apparently there is some methane leaking into the sea bed and this is unrelated to the original leak. (thus the permission from the US scientists to fix that independently ) Under the clean water Act, BP could face a penalty of up to $4300 per barrel spilt*. Consider that BP has underestimated the volume of oil that has originally spilt into the gulf, they dont want to take the cap off because then the US scientists can get perfectly accurate numbers relating to the subsequent compensation claims.
updete d article
http://www.bloomberg.com/news/2010-07-19/bp-well-s-valves-will-remain-closed-as-leaks-inconsequential-allen-says.html
is that $4300 per barrel already gone in to the ocean. They will be owing billions. They have really not dealt with this correctly at the beginning and the Americans will not hold back. They`re not dealing with Bush now.
GardenMan
(1,332 Posts)
Posted:
20-Jul-2010 13:20
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Originally posted by the_squinting_eye:
is that $4300 per barrel already gone in to the ocean. They will be owing billions. They have really not dealt with this correctly at the beginning and the Americans will not hold back. They`re not dealing with Bush now.
Ya - $4300 per barell full stop. I wonder how far the original estimate would be from an independent one..
ofiann
(1,224 Posts)
Posted:
20-Jul-2010 13:51
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They will soon be accused of killing bambi and shergar, and teaching billy ray cyrus how to sing!!
It`s a remarkable silence on all the other oil companies who had a stake in that well!!
Rebel CNC
(4,232 Posts)
Posted:
20-Jul-2010 13:55
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Sarah Palin and the Republicans have gone very quiet on their "Drill, baby, drill" mantra!!
ofiann
(1,224 Posts)
Posted:
20-Jul-2010 14:02
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http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7899169/Halliburton-profits-soar-warns-on-new-rules-following-BP-oil-spill.html
Here we go, its all starting to make more sense now!!
ultimate warrior
(135 Posts)
Posted:
20-Jul-2010 14:08
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interesting (but long!! ) take on it
http://www.ted.com/talks/carl_safina_the_oil_spill_s_unseen_culprits_victims.html
GardenMan
(1,332 Posts)
Posted:
20-Jul-2010 15:08
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Originally posted by ultimate warrior:
interesting (but long!! ) take on it
http://www.ted.com/talks/carl_safina_the_oil_spill_s_unseen_culprits_victims.html
These chaps cannot be taken seriously.
(A comment from Oliver Snow 15 hours ago: I hope that everyone dies so that civilisation can continue. )
__
As for the general theme of the talk, well we can blame consumers/shareholders/oil companies/regulators. We can blame a combination of all 4 in my opinion. Its not a cut and dried case. The attacks on Lord Brown are also unfounded. These shotgun responses are usually off the mark. Its a common response that the Americans always judge first and think later.
limericklass
(2,138 Posts)
Posted:
20-Jul-2010 15:57
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Can we not stop for a second and think about the marine life that will be killed and the long term damage that will be done to the eco system for many years !!!!!!!!!!
the_squinting_eye
(330 Posts)
Posted:
20-Jul-2010 16:13
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Originally posted by limericklass:
Can we not stop for a second and think about the marine life that will be killed and the long term damage that will be done to the eco system for many years !!!!!!!!!!
we can............and now move on to more important things like money.
magpie
(3,269 Posts)
Posted:
20-Jul-2010 17:11
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Originally posted by limericklass:
Can we not stop for a second and think about the marine life that will be killed and the long term damage that will be done to the eco system for many years !!!!!!!!!!
Not to mention whats already dead...
Of course the real culprits here are the people who give these oil companies permission to drill in water so deep that if something should go wrong there is no technology available to counter it.of-course politicans having their pockets stuffed with money from lobbyists would have nothing to do with this sort of carry-on now would it?
GardenMan
(1,332 Posts)
Posted:
27-Jul-2010 16:37
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http://www.guardian.co.uk/business/2010/jul/27/tony-hayward-bp-social-corporate-responsibility
BP formally confirmed today that it had axed its boss Tony Hayward in an attempt to appease mounting anger in the US but risked undermining the move by insisting it had been a "model of corporate social responsibility".
In further comments unlikely to go down well in Washington, Hayward said he had been "demonised" in the US, adding that he might be "too busy" to attend future US hearings into the disastrous Gulf oil spill.
Explaining his decision to leave the group he has led for three-and-a-half years, Hayward said: "I believe this tragedy will leave BP a different company. I believe for it to move on in the United States it needs new leadership and it is for that reason I have stood down as the CEO. I think BP`s response to this tragedy has been a model of good social corporate responsibility. It has mounted an unprecedented response."
The same message was given by Bob Dudley, the BP director currently in charge of the Gulf clean-up who will take over the top job from Hayward in two months.
Dudley, who will become BP`s first American boss, described the company`s reaction to the blowout on the Deepwater Horizon as an "unprecedented corporate response" adding that very few companies could have done what it did.
And the future chief exc utive said the accident was "very complex", caused by multiple failures of equipment and triggered by "a number of companies" rather than just issues associated with BP.
Asked whether Hayward had been unfairly treated by US public opinion, Dudley praised Hayward`s leadership, adding: "I think that time will show whether that has been fair or not." He later said he expected his colleague`s reputation to be restored but declined to say whether Hayward could eventually get a wider role in addition to the one he will be nominated for as a non-exc utive director at the company`s Russian joint venture, TNK-BP.
Hayward himself said it was pointless to worry about whether his departure was fair or not, adding that "life is not fair". His exit was in the best interests of BP because he had been demonised by the Gulf accident, he explained.
Hayward accepted some of the gaffes he had made such as wanting to "get his life back" had damaged the oil company.
"It may not have been a great PR success. You can argue about whether it could ever have been a great PR success, operationally we capped the well and cleaned up a hell of a lot of the oil."
Hayward was contrite when asked whether he personally could have done anything differently. "Was I close to perfect? Absolutely not. Did I make some mistakes? Of course I did. With the benefit of hindsight would I have done anything different? Of course."
______________________________________________-
I suppose their response has varied from one extreme to the other and history will judge its adequacy in comparison to the next spill.
Tony Hayward (TH ) is a geologist first and foremost, and after 28 years working one could nearly see his background throughout the disaster period. He is not very skilled at PR, and that is generally something a CEO in modern business needs to be good at. Business acumen alone cannot soothe people worries, especially today, with mass reaction times being immediate on the internet and so forth. This latest interview by TH is likely to infuriate the Americans further, but I dont think it matters now (their anger ) as an american is in charge like they wanted from the off. Its probably a good move to have a local in charge, however it is unfortunate that politics had so much to do with BP`s decision yesterday evening.
__________-
There was a chap on the radio this morning. John Hoffmeister, and he made some interesting comments on the industry. He is the former CEO of Shell and he reckons that despite the constant clamour from governments, & lobbyists for green energy production, the oil companies are still 30-50 years away from making this possibility feasible for themselves. He said that currently it is not cost effective to invest in wind energy/solar (etc ) as the reliability is not there. People want and demand a constant supply. We can see the tar sands being mined in Canada. Even though the pollution involved here is extensive, it will contine as long as fossil fuels are affordable and available. The onus is not on Joe Smoke to change his habits because they are based on what is available, it is really on the governments to enforce legislation and scientists to develop sustainable sources in the future. Unfortunately, during a recession it is the wrong time to make drastic changes.
This general theme makes the Green Party and other environmentalists look out of touch with big business - what they want and what is possible is not realistic. They can introduce carbon taxes, but the EU, and the US are still decades away from oil substitutes.
I suspect that this will not be the last accident in the coming years. Note, BP are about to drill near Libya now (ironic I know ) and at that location they will be drilling deeper than ever before.
GardenMan
(1,332 Posts)
Posted:
08-Sep-2010 21:15
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updete . this is a very good link on the `BP report` regarding the leak, the rep was released today and BP are blaming some of the sub contractors for their part in the explosion.
http://www.guardian.co.uk/environment/blog/2010/sep/08/bp-oil-spill-report-live#start-of-comments
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