And, BP is not complying with government demands for more monitoring
I read this and said to Sue, would LBJ have taken this crap from a business? No. Nor would have JFK. He whacked the steel companies upside the head when they defied him. Sue said, it’s a different world now, things are not the same.
If things were going well, would there be this much confusion? Especially since the government is questioning the process, saying tightening the new cap could put too much pressure on the well, and BP saying there is no assurance they will get the go-ahead.
There seems to be a pattern here. Rosy promises that all will be fixed followed by damage control and hedging once things don’t go as announced.
Are they trucking in sand and just covering up the mess? Are they trying to clean it up and the efforts just aren’t doing a bit of good with the tides full of oil coming in and out? No matter what they’re doing it doesn’t appear to be making any difference. The beaches still have oil on them underneath the sand as the above video clips show. It would be nice if the media would get out there and demand some access to these sites and find out. If they are just dumping sand over the oil it needs to stop immediately.
BP, it’s Mother Nature. I’m so very sorry I did not adequately design my marine bird, fish, and mammal species to evolve to the point that they could adapt to oily environments. I’ll try harder next time. Nobody’s perfect.
BP, We’re sorry your oil slick and black tar balls contrast so embarrassingly with our pristine, powdery, white sand beaches.
Free self-tanner for everyone! No more laboriously applying baby oil so we can get a quick tan at the beach. A simple dip in the Gulf will do. Sorry we aren’t more grateful for the free self-tanner!
“Aerial footage of tar on Pensacola Beach from Escambia County Sheriff’s Office helicopter.” It goes for miles and miles on (formerly) white sandy beaches in a major tourist area. Near the piers, people are looking at the oil. There are no clean up crews and the beach is apparently still open. This is devastation, both for the beach and for their economy. Their hotels are probably empty, or will be soon.
My good friend and photographer Kris Krug just wrapped up a week down in the Gulf. He was photographing the oil spill from the air for the TEDxOilSpill Expedition, a project that aimed to collect first-hand information for presentation at a conference scheduled for June 28 in Washington D.C. Kris was also taking photographs for National Geographic.
According to Kris, we cannot begin to imagine the scope of this tragedy.” It looks likes dirty dishwater in some places, with that rainbow, reflective sheen,? Krug recalled. It looks like sewage sludge in others, where rusty-coloured orange and brown and black sludge is bubbling up from the bottom. KK believes fully that BP is busy blocking true press access to the devastation.” Every time we showed up anywhere, we were approached by guys in badges, asking us who were, what we were doing, and telling us to not cross this line or that line.”
You can find all of Kris’ stunning pictures taken down in the Gulf on his Flickr pages
South Louisiana store sign. kk+ Flickr photo
How insane is it that BP apparently thinks this is just some PR crisis that needs to be managed by chasing reporters away. Like we can’t see the photos and videos? Why is the White House still permitting BP to muzzle freedom of the press?
When Barack Obama referred to a major UK-based criminal organisation by its former name, British Petroleum, a storm of outrage followed in the UK’s corporate press and in the statements of Britain’s Liberal and Conservative politicians. They strenuously denied the US President’s outrageous implication that BP, the destroyer of lives, livelihoods and the environment, is a British company; while at the same time they insisted that the British government must bravely stand up for BP, Britain’s most lucrative company in terms of shareholder dividends and the lifeline of the UK’s pension funds.
The real problem is that trans-nationals like BP are so big and powerful they aren’t really beholden to governments the way small corporations are. Somehow we need to make them more responsive to the needs of society at large and less focused on profits above everything else. So, how do we do this?
But will anything substantive come of it besides a few rousing soundbites? BP got a sweetheart deal on the escrow fund, as they can pay in over several years and the administrator is the same person who monitored Wall Street pay for excesses. Right, that worked out so well, didn’t it? So, Hayward will get a public spanking but behind the scenes the overly cozy relationship between corporations and the government will continue unchanged.
And the Brits are correct. Congress and Obama are treating Hayward considerably more harshly than they treated US investment bank CEOs. But it’s still mostly just theater.
Here’s why. The $20 billion fund will be overseen by Kenneth Feinberg who has done such a wonderfully effective job of overseeing bankster salaries under TARP. Yeah, I bet BP is just shaking in their boots over this. (At last report Feinberg was still “reviewing” Wall Street salaries.)
It gets worse. BP doesn’t have to put all the money into escrow now. Why they can take several years if they want, so as “not to scare off investors.”
I was wondering why BP’s stock price went from 5% down to 5% up when the news was announced. Now we know.
He’s continuing to say the relief well will fail, an undersea oil lake may cover 40% of Gulf, there’s a massive leak at the well head, and BP will go bankrupt with the stock falling to zero.
TheStreet.com is saying (subscription only) that Simmons is a lunatic and BP will rise from the wreckage. This is a deeply telling indication that Simmons is correct. I believe Jim Cramer strongly urged folks to buy BP at 40 because things would be fine, just fine.
Meanwhile, Battling Barack is still trying to negotiate terms with BP over the size of the escrow fund and who will manage it. Excuse me, is not one party here the US government and the other a corporation? Look, if Simmons is only half-right, then stopping the blowout and cleaning up the mess is now the equivalent of war. In other words, whatever it takes, do it. Now.
Finally, how’s this for a fun couple? BP has retained Goldman Sachs to protect them from hostile takeovers. I wonder, will they need to hire someone to protect them from Goldman?