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capt. jakeg

should we boycott BP fuel?

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Quote Originally Posted by BILL H View Post
Why is BP against offshore drilling? This seems like an odd statement in light of today's Washington Post article that reports that BP is currently lobbying against further regulation of offshore drilling.

And you can complain about the media coverage, but there is a lesson that was learned 60 years ago that could be paraphrased right here:

"They first polluted Prince William Sound,
and I didn't speak up because I wasn't a Alaskan.

Then they polluted the Bay of Campeche,
and I didn't speak up because I wasn't a Mexican.

Then they polluted the Gulf of Mexico,
and I didn't speak up because I lived in Maryland.

Then they polluted the Eastern Seaboard
and by that time it was too late to speak up."

I think the media are reminding us that it is high time to speak up.
I agree that its a terrible disaster but it was a disaster that was created by carelessness and could be avoided. Simple economics would tell you why oil companies don't want to open some of the largest oil fields in the world. They already supply enough oil. There is no shortage of oil but further increasing domestic production would make oil less volatile and make it worth less. Why would they want to pump a gallon of oil for less? Their job is to keep oil as expensive as possible for as long as possible and why not sell oil from the gulf at a premium until that reserve is used then move to the next reserve and sell it at a premium instead. It doesn't make sense from a business standpoint for them to seek stabilization in oil prices rather than keep the market as volatile as possible. As much as oil companies have a stranglehold on our government, if you think they honestly have wanted to drill off the east coast, don't you think wells would have been there 50 years ago when they figured out the oil was out there?
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Comments

  1. Capt. Nick's Avatar
    No, let BP make a profit because they will need all the cash they can find to pay the damages of the Gulf spill.
  2. Johnfishes's Avatar
    "created by carelessnes"
    Now you are starting to sound like Obama. The spill was created by greed. Greedy oil companies and greedy lobbyists and greedy government regulators. This spill is criminal and needs to be handled accordingly. The government handling of the actual spill and the aftermath borders on criminal. I keep hearing that they have never had to deal with this type of disaster and had no contingency to control. They never should have allowed deep drilling without a sound action plan to shut down the well in an emergency. Four month after the disaster is too long to drill the secondary wells. They should have been in place before the first drop of oil was piped out of the well.
    "Simple economics", what you describe is price fixing and with the monopoly that these oil companies hold is also criminal. BP's assests should be frozen immediately put in a trust and whats remaining of their assets sold to the highest bidding oil company that will take over the day to day operation and take responsability for all claims that BP cant pay out. Only then can the new company put profits to their bottom line. Hold the government regulators and the top execs of BP criminally liable. Of course that will never happen in our life time. We need to start holding companies and individuals responsable for their actions.

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