The Obama Administration and the BP Gulf oil spill crisis - pause for thought

The Obama Administration and the BP Gulf oil spill crisis - pause for thought
June 7, 2010

An ideal situation for the US administration - or is it ?

The terrible spill of oil in the Gulf and the struggle for BP to stop the spill, let alone contain its effects would on the surface offer an open goal for the Obama administration to demonstrate their environmental credentials, talk tough and use a whipping boy a foreign owned firm.

Announcements by the US Government of investigations would seem to back this up. However, much like the Defence Industry, Oil is of a global nature and punishing BP might well be punishing US jobs and industry. A quick glance at the 2009 Annual Report for BP;

* 35% of Global Revenues (some $84 billion)

* near 50% of Global expenditure on Capital Expenditure investments and acquisitions

* $650 million in taxes to the US Government

* 22,800 employees (near 30% of global workforce)

* over 90% of employees in high-value refining / production / Exploration

Meanwhile, whose responsibility was the damage to the oil well in the first place ? The NY Times reports (June 5) 'In Gulf, It Was Unclear Who Was in Charge of Rig' - BP ? the Well owner ?? oil services Halliburton ??? or the exploitation company Transocean ???? - Sounds like a job for Hong Kong Phooey...