BP is finally starting to get rattled

[kpete]

BP: Is Team Obama Pushing for a Full Externalities Precedent?

...... the escalating disaster of the Gulf oil spill, and the unique constellation it presents, namely, a big, rich, isolated, foreign perp, which is largely if not solely responsible for the mess, in close proximity to contested mid-term elections, might actually rouse Obama to do something uncharacteristic, namely get tough.

This is by no means a likely outcome, but we are seeing some novel behaviors. First is that Obama finally may have succeeded in getting someone important afraid of him. This is a critically important lesson; Machiavelli told his prince it was much more important to be feared than loved. Mere anger is often negotiation posturing or a manifestation of CEO Derangement Syndrome; fear is much harder to fake. And BP is finally starting to get rattled. Per the Wall Street Journal:


..................

Mr. Hayward immediately canceled an employee town hall meeting and a trip to review clean-up on the Louisiana coast, and gathered his visibly shaken executives at the crisis center in Houston. At a top management call between Houston and London to review its “Sub-sea and Surface” agenda, the top item on “Surface” issues suddenly became “Washington politics.”

“This demand is chilling,” said one executive in the meeting. “The administration keeps pushing the boundaries on what we are responsible for.”

http://online.wsj.com/article/SB10001424052748704312104575297841925243062.html?mod=WSJ_hps_LEFTTopStories

..................

Admittedly, it isn’t clear that an investigation will lead to charges, but BP seems rather slow to have realized who hold the whip hand if things get ugly. Not surprising, since contingency planning is not the oil producer’s strong suit.

I wouldn’t be optimistic; Team Obama has yet to rough up anyone. But this particular set of circumstances – a monstrous disaster that is not going to be resolved anytime soon and a rich, unpopular, and relatively isolated target – will show whether Obama’s survival instincts will overcome his deep seated deference to corporate chieftans.

more:
http://www.nakedcapitalism.com/2010/06/bp-is-team-obama-pushing-for-a-full-externalities-precedent.html

[Catherina]

1. They're expecting to get off just throwing a few peanuts our way

“This demand is chilling,” said one executive in the meeting. “The administration keeps pushing the boundaries on what we are responsible for.”

You irresponsible motherfucking bastards.

[hobbit709]

14. Whose hole was it?

It was BP's, thereby BP is responsible.

[Catherina]

21. Whose country is it? I didn't vote for BP to be in charge of anything

I'm not ok with abdicating responsibility to them. :wtf:

[MannyGoldstein]

2. BP's Fucked Now. Here's What They're in For:

http://www.youtube.com/watch?v=CSe38dzJYkY

BP's penalty starts at about one minute.

[killbotfactory]

3. It would be tragic if we forced companies to pay for externalities

Not holding companies accountable for externalities is basically a hidden subsidy for businesses that pollute and make people work in unsafe conditions.

[aquart]

22. A corporation that declares a profit while debiting a nation is a parasite.

It will kill the nation and move on.

No corporation should ever be allowed to declare a state of profit while causing any expense to the nation it is feeding off.

Right now, this free market is costing the American people a fucking fortune out of our pockets into theirs and THEY GIVE US NOTHING BACK.

[wordpix]

4. BP is slow to realize who holds the whip hand b/c up to now, BP & BigOil held it

Things may be slowly changing but O needs to show his whip hand NOW and rouse himself from his own slow-to-realize stupor ---all is NOT well in the oil drilling biz and business as usual is OVER.

[The Backlash Cometh]

5. They're responsible for all of it.

You mean to tell me that no Petroleum company ever sat down to consider the worst case scenario?

[gratuitous]

6. I'm going to say "no"

What is a worst case scenario when you're accustomed to getting your way all the time? The most any oil company executive has to sweat is whether they'll get the maximum subsidies and tax breaks they want or have to settle for 90% of what they want. When that's your metric of the "worst case," the idea that by willful blundering, cost-cutting, and safety trims could take down the entire company is like an elephant trying to imagine what occupies the space between electrons in an atom.

[eShirl]

7. Make an example of them, Obama!

[pscot]

8. I seriously doubt he's worried about the President

They're more likely afraid of the obvious public hatred and loathing. Obama is the only thing standing between BP and the torches and pitchforks, to paraphrase our fearless leader.

[aquart]

12. And, conveniently, all we have to bring are the feathers.

[Kber]

17. Now that's funny.

In a black (oil) kinda way.

[wordpix]

9. BP will really get rattled when more people read the Rolling Stone article

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=103&topic_id=541228&mesg_id=541228

fuckheads have 760 violations outstanding before this disaster.

http://www.rollingstone.com/politics/news/17390/111965?RS_show_page=0

[jwirr]

10. They need to release the Cheney energy meeting minutes now. These

are the basis for criminal action. There may also be oil depletion info in them that would explain all this risk taking and desperation for oil: deep water drilling, oil wars, etc.

[aquart]

11. Mr. Hayward, BP is RESPONSIBLE FOR ALL OF IT.

You cheating, greedy, nickel-and-diming, incompetent, lazy, did-I-mention greedy? ASSHOLE.

[FarCenter]

13. It no longer an operational matter -- it is now up to the lawyers and diplomats

Expect the UK government to become directly involved.

BP cannot escape its obligations to its shareholders under UK law. It will most likely split off the US operations and that part will declare bankruptcy. The rest of the company may or may not go into administration under UK bankruptcy courts.

BP/TNK will likely wind up fully in Russian hands.

[kelly1mm]

16. Exactly. That is what people don't get. At some point (sooner than

a lot of people here think) BP will dissolve leaving the US taxpayers to pay the tab. Sure, we could get some assets in the bankruptcy but not nearly as much as a functional BP over the next 10-20 years. And this only applies to US operations. BP will still be a major player and it will still make profits off oil sold in the US. There is a saying "Pigs get fed, hogs get slaughtered." that comes to mind in this instance.

[aquart]

23. Which is why we need to seize them now.

[kelly1mm]

25. Do you know what actual assets BP has that are subject to US

jurisdiction? I think it is a lot less than many may think. You can be sure the lawyers are thinking of clever ways to spin off the US BP operations and several 10s of billions of dollars in US assets and bank accounts and have the remaining, non-US BP assets and bank accounts keep operating. It makes business sense - not that it it right - just that is what lawyers for corporations do - limit liability.

[David__77]

15. Going after BP could be the ace Democrats hold.

The GOP would, whether they like it or not, leap to their defense. It's a winning scenario.

[Poboy]

18. Thank all of you

As my first post, I just want to thank all of you, from the bottom of my heart, for fighting for us down here.
Kpete, flyarm, Bluebear, and many many more. ALL OF YOU

Thank you for helping as best you know how, and keeping the pressure on the corporations and political sell-outs.
Our entire way of life, 300 years of culture, and very existence is in doubt.

Thank you and this place for all of your help.

[blindpig]

19. More dog & pony show

Call me when Tony is in shackles.

[Scurrilous]

20. K & R

:thumbsup:

[Jennicut]

24. The demand is chilling? Tony, you ruined the Gulf, and it may not recover

for 100 years. Seriously, get your head out of your ass already.

[onethatcares]

26. that's the scariest part of all, the Gulf of Mexico is over, done,

I see no way of the wetlands recovering, if the beaches get hit, they aren't coming back to pristene (not that they were pristene)those fishing related jobs are gone and if we get real lucky the country will pull its' collective head out of its' ass and start using less fossil fuel and more renewables (not a lot of hope for that one)

Tomorrow, I will be in the GOM,today I was there at Ft Desoto beach in Pinellas Country Florida, picturing 2 inch thick oil washing up on those beaches is not a sight I want to see.

Sorry for getting off topic.

[aquart]

27. That is not off topic. It's the issue.