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Posts Tagged ‘BP’

Obama bullies BP into $20B fund for oil spill victims… Retired “Small People” Get Drilled On The Other Side Of The Pond

June 17, 2010

The crisis engulfing BP has plumbed to new depths as President Obama bullied the company into depositing $20 of  “Small People” Retirees money into a fund to settle compensation claims for the calamitous Gulf of Mexico oil spill.

After a face-to-face showdown with the President at the White House, BP chairman Carl-Henric Svanberg revealed the payment meant the oil giant would be forced to suspend dividends to its shareholders until at least next year.

And the news was a major blow for Britain’s pension funds, which rely on BP’s dividend income to provide 18% of the money they receive each year.

Since the  explosion in April, the value of the company – formerly Britain’s biggest – has halved.

It appears BP Chairman Carl-Henric Svanbergatal does not care about those Retired Small People.. More little  people get drilled on the other side of the pond.

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BP chairman says company cares about ‘small people’

June 16, 2010

WASHINGTON (AFP) – BP chairman Carl-Henric Svanberg said Wednesday the British energy giant cared about the fate of the “small people” hit by the Gulf of Mexico oil spill, vowing to look after all affected.

Emerging from White House talks with President Barack Obama, Svanberg said the British energy giant had “always met our obligations and responsibilities.”

Obama said he had urged the BP bosses to remember when they were meeting in the boardroom to “keep in mind those individuals, that they are desperate, may lose business that have been in their families for two or three generations.”

Svanberg agreed, saying: “We care about the small people.” The Little People Aren’t Thrilled..

 

 

Obama Turns Down Help From The Dutch, Chicagoland Meets The Netherlands Meets Neverland

June 16, 2010

Three days after the explosion of the Deepwater Horizon in the Gulf of Mexico, the Dutch government offered to help.

It was willing to provide ships outfitted with oil-skimming booms, and it proposed a plan for building sand barriers to protect sensitive marshlands.

The response from the Obama administration and BP, which are coordinating the cleanup: “The embassy got a nice letter from the administration that said, ‘Thanks, but no thanks,’” said Geert Visser, consul general for the Netherlands in Houston.

Now, almost seven weeks later, as the oil spewing from the battered well spreads across the Gulf and soils pristine beaches and coastline, BP and our government have reconsidered.

U.S. ships are being outfitted this week with four pairs of the skimming booms airlifted from the Netherlands and should be deployed within days. Each pair can process 5 million gallons of water a day, removing 20,000 tons of oil and sludge.

Federal law has also hampered the assistance. The Jones Act, the maritime law that requires all goods be carried in U.S. waters by U.S.-flagged ships, has prevented Dutch ships with spill-fighting equipment from entering U.S. coastal areas.

“What’s wrong with accepting outside help?” Visser asked. “If there’s a country that’s experienced with building dikes and managing water, it’s the Netherlands.”  But the Obama Administration wouldn’t accept the help, because doing so would require it to do something past presidents have routinely done: waive rules imposed by the Jones Act, a law backed by unions.

The explanation of Obama’s reluctance to seek this remedy is his cozy relationship with labor unions and Chicago politics. . . ‘The unions see it [not waiving the act] as … protecting jobs. They hate when the Jones Act gets waived.’”

 Jones keeps Netherlands from advancing the ball.

 

Oil Spill Czar Has Limited Super Powers Against BP..Call Put In For New Czar, Game Over

June 15, 2010
As BP’s Deepwater Horizon oil rig was sinking on April 22, Sen. John Kerry, D-Mass., was on the phone with allies in his push for climate legislation, telling them he would soon roll out the Senate climate bill with the support of the utility industry and three oil companies — including BP, according to the Washington Post.

But the Kerry-BP alliance for an energy bill that included a cap-and-trade scheme for greenhouse gases pokes a hole in a favorite claim of President Obama and his allies in the media — that BP’s lobbyists have fought fiercely to be left alone. Lobbying records show that BP is no free-market crusader, but instead a close friend of big government whenever it serves the company’s bottom line.

While BP has resisted some government interventions, it has lobbied for tax hikes, greenhouse gas restraints, the stimulus bill, the Wall Street bailout, and subsidies for oil pipelines, solar panels, natural gas and biofuels

Expect BP to be public enemy No. 1 in the climate debate.

There’s a problem: BP was a founding member of the U.S. Climate Action Partnership (USCAP), a lobby dedicated to passing a cap-and-trade bill.

Ut Oh….. Oil Spill Czars super powers do not work against BP..Obama did not meet with BP for so long because they are allies..

  
 

The Marshall Islands, Not the U.S., Had the Main Responsibility For The Safety Inspections on the Deepwater Horizon

June 15, 2010

The Deepwater Horizon oil rig that exploded in the Gulf of Mexico was built in South Korea. It was operated by a Swiss company under contract to a British oil firm. Primary responsibility for safety and other inspections rested not with the U.S. government but with the Republic of the Marshall Islands — a tiny, impoverished nation in the Pacific Ocean.

Now, as the government tries to figure out what went wrong in the worst environmental catastrophe in U.S. history, this international patchwork of divided authority and sometimes conflicting priorities is emerging as a crucial underlying factor in the explosion of the rig.

Under International law, offshore oil rigs like the Deepwater Horizon are treated as ships, and companies are allowed to “register” them in unlikely places such as the Marshall Islands, Panama and Liberia — reducing the U.S. government’s role in inspecting and enforcing safety and other standards.
 The Marshall Islands licensed the Deepwater Horizon in a way that allowed rig operator Transocean Ltd. to place an oil drilling expert — the so-called offshore installation manager — ahead of a licensed sea captain in making decisions on the day of the explosion.

The Federal Minerals Management Service, which also has a role in overseeing offshore oil operations, deals only with issues “below the waterline” of the floating rig. It was not responsible for rig staffing, command structure or other above-water operations.

Lets review, a semi-submersible drilling boat built in Korea, operated by the Swiss, contracted to a British Company, with safety permitted by the Marshal Islands, with both a ships captain and drilling manager overseeing operations ,with MMS responsible for operations only below the waterline, for a well spewing oil on the gulf states.

It is still clear who is responsible….

 

BP Has Second Accident,Explosion on Second Relief Well

June 12, 2010

BP has experienced problems with their second relief well designed to intersect flowing Gulf well. Progress with first relief well (Big Ass Well) is going as usual, but have encountered problems with Intersect well #2. It is unclear at this point, how many injuries or possible  delays in the project. BP spokesperson states that it looks like we have encountered a gas pocket.

At this point the second environmental disaster has been confined to an area about the size of a soccer field..

BP Update,Making Great Progress On Relief Hole

June 11, 2010

In a recent update, BP has announced excellent progress on the ongoing relief well to help reduce the oil flow in the Gulf of Mexico. Following the disappointment of top shot, junk shot, little top hat, bigger top hat, and pending biggest hard cap; BP Management is very optimistic regarding  “Operation Big Ass Hole”.  BP is taking no chances and is  depending on the largest ass hole they have. Current predictions of the Big Ass Hole intercepting with the flowing well based on the size and depth of the new well, is approximately 2-3 years,unless there is a delay..

UK Prime Minister Says,Take The Boot Off The Neck Of BP And Replace With Wingtips

June 10, 2010

 David Cameron, UK prime minister, said on Thursday that the British government stood ready to help BP with its cleanup efforts and that he completely understood US frustration.

The concerns of the UK business community come amid mounting unease in Britain that attacks on BP for its handling of the Gulf of Mexico oil spill are being dictated by the politics of November’s midterm Congressional elections rather than normal regulatory considerations.

Repeated references by senior US politicians to “British Petroleum” – which has not been the company’s name since 1998 – have fuelled fears of a wider backlash against UK companies.

Richard Lambert, director-general of the CBI, the UK employers’ group, said the presidential attack was “obviously a matter of concern – politicians getting heavily involved in business in this way always is”. Mr Lambert suggested the White House strategy was misplaced. He said: “Apart from anything else, BP is a vital part of the US energy infrastructure. So the US has an interest in the welfare of BP, as much as the rest of the world does”. He said that British business appreciated the gravity of the spill but warned: “There is a danger that … there will be a prejudice against British companies because of it.”

O has serious balancing act by using BP as a punching bag, could provide short term political relief, but bankrupt BP and stick tax payers and angry shareholders with the cleanup bill and higher energy prices. O being the community  organizer is a one trick pony, having  experience attacking business but never cooperating.

  

 

Alec Baldwin Guest Lecture Series,Let BP Die

June 9, 2010

“I wrote in a previous post that a major global oil company would have to go out of business as a sign that we were on the right track regarding effective energy policy reform. Let that company be BP. In the process of being litigated by the government of this country in pursuit of remediating this problem, let BP die. The oil business can only sustain itself through the corruption we now know was (is?) rampant at the Minerals Management Service. Some of those in charge at that agency should be put on trial for treason. Some of the neocons that visits this site will nonetheless defend BP. They’ll say they broke no law. That the government approved everything that went on down there”.

Thanks Alec, but maybe companies should go out of business not for your “policy” reasons but business reasons…