Monday, May 31, 2010

Ain't it Obvious? We Can't Trust BP to Do the Job.

BP's only interest is the bottom line. From no plans in case of a disaster, to its audacious short-cuts throughout the entire process, judge shopping, and the outright lies BP has told since the beginning, this company is useless and good for nothing, except maybe for its lobbying talents. 

Greed is the essential component in the formula for disaster. Why? Because ultimately, greed leads to negligence, incompetence and most of all bold faced lies, which, thanks to Rachel Maddow, is eloquently demonstrated in a segment of "The Rachel Maddow Show"(video below).

So, it follows that when the only incentive given to each player is individual profit,  (huge windfall profits) the incentives of the company will never align with the needs of public safety...or the public good.

It's very clear. Mad dashes for profit and perverse incentive structures = disaster.

BP is one of the biggest spenders on lobbying in the oil and gas industry to represent its interests in Washington.

During the first quarter of 2010, it spent $3.5 million on lobbying, second only to ConocoPhillips, according to figures compiled by the nonpartisan Center for Responsive Politics.

Yet despite the far from resolved Gulf Oil disaster and as plenty of evidence suggests, BP's responsibility, they want to avoid curbs on new drilling, according to  its lobbyists.

BP officials, who put profits above all else, including safety, wanted to proceed quickly as possible in order to save money on the current well's cost, and  so they could begin on another well, which was behind schedule.

Lies and more lies.

BP, Government Risk Larger Spill to Stem Leak

BP CEO disputes claims of underwater oil plumes.

BP Lowballing Oil Flow

BP is vastly understating the amount of oil flowing into the Gulf in order to decrease fines, which are based on the number of barrels leaked per day. Host Scott Simon talks with Markey about his criticism of the oil company and its efforts to contain the oil spreading in the Gulf of Mexico.


Anonymous,  01:23  

Unbelievable! Between the bankers and the oil executives they alone will cause the end of time.

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