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Gulf oil spill

wjfox

By wjfox
in General ED Issues / Gossip

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  • 2 weeks later...
JohnL

JohnL

Posted
Posted

Papers all say Exxon are coming in with a ?100B takeover


Obama's given it the go ahead (acting as judge, jury and executioner) as the US public would rather see the Exxon CEO in charge of BP than the current management.


Not good for UK Ltd.


expat Wrote:

-------------------------------------------------------

> BP could go bust especially if they revoke their

> permission to operate in the States. So far the

> money they have

> spend does not even begin to make a real dent in

> their profits....

dc

dc

Posted
Posted

SeanMacGabhann Wrote:

-------------------------------------------------------

> I don't get the US v UK angle on this. If something similar happened here in 2010, the British government would be equally agitated.


That may be true in 2010 with the sort of news/media environment we now live in. But remember Piper Alpha - an American owned rig that blew up in the North Sea over 20 years ago with the loss of 167 lives?


The way the aftermath of that disaster was approached - with a focus on learning lessons rather than apportioning blame (including the Cullen Enquiry) - led to far-reaching reforms and improvements in safety that may not have been possible if a 'witch-hunt' had been pursued. The process was also unique of its time in that it resulted in the setting up of what was effectively a UK government sanctioned trades union under Thatcher - the OILC.


Maybe a similar approach today in the US would be appropriate? (bearing in mind that BP are committed to paying for the clean-up anyway). Unless anyone really takes seriously the idea that they will continue to block oil extraction from such deep wells in the future?

HAL9000

HAL9000

Posted
Posted

BP says oil has stopped leaking from Gulf well


If one of BP's relief wells succeeds in blocking the damaged borehole - what are the chances the other one will end up being used as a production well? With potential revenues of US$3 million a day, it could recoup the US$3 billion* spill claims in just 2 years and 9 months.


* 10^9

  • 1 month later...

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