The Cover-up: BP's Crude Politics and the Looming Environmental Mega-Disaster
We have been informed by sources in the US Army Corps of Engineers, Federal Emergency Management Agency (FEMA), and Florida Department of Environmental Protection that the Obama White House and British Petroleum (BP), which pumped $71,000 into Barack Obama's 2008 presidential campaign -- more than John McCain or Hillary Clinton, are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico and working together to limit BP's liability for damage caused by what can be called a "mega-disaster."
Obama and his senior White House staff, as well as Interior Secretary Ken Salazar, are working with BP's chief executive officer Tony Hayward on legislation that would raise the cap on liability for damage claims from those affected by the oil disaster from $75 million to $10 billion. However, WMR's federal and Gulf state sources are reporting the disaster has the real potential cost of at least $1 trillion. Critics of the deal being worked out between Obama and Hayward point out that $10 billion is a mere drop in the bucket for a trillion dollar disaster but also note that BP, if its assets were nationalized, could fetch almost a trillion dollars for compensation purposes. There is talk in some government circles, including FEMA, of the need to nationalize BP in order to compensate those who will ultimately be affected by the worst oil disaster in the history of the world.
The rest is here.
http://www.zerohedge.com/article/guest-post-cover-bps-crude-politics-and-looming-environmental-mega-disaster
Thursday, May 6, 2010
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6 comments:
To date, the Ixtoc spill was bigger. It affected the Texas coast in a big way, but you'd never know it today. I think there's a lot of fear mongering going around regarding this spill. "Never waste a good emergency" as Rahm Emmanuel said. I'm not downplaying it, as it ain't over yet, but I do think the media is sensationalizing, as they are prone to do....
I certainly hope that someone manages to find a way soon to minimize the damage!
I have no confidence in the government taking part in the recovery process. None at all!
Seems to me that we have once again slapped Mother Nature in the face...and sooner or later, she will slap back!
I agree with both of you. I put it out there because some of my friends in that business are worried. I sure do hope that this box thing works.
Pickdog
III
I guess it goes to show that money can't buy you everything. They donated alot of money to Obama's presidential Campaign, they should have took that money and bought some good blow-out preventers instead.
Sadly my worst fears are being realized. FUBAR is all can think.
Pickdog
III
Just curious, but does anyone require people who make wild claims like a trillion $ in damages to provide the numerical (versus hysterical) basis for their opinion?
Oil is a naturally occuring material that will eventually break down in the environment. There are numerous native bacteria that digest oil and break it down into harmless constituents. In 3-5 years this will all be cleaned up and you won't be able to tell it ever happened, just like the Exxon Valdez. No one wants to go back and review that because it does not make good copy for the media's agenda.
We are all customers of the oil industry - that is our gasoline supply that is being wasted. The moratorium on drilling will reduce our future gasoline supply and force us to import from unstable and hostile sources. If you want to have a real energy crisis then by all means support nationalizing BP, which would probably be followed by calls to steal the assets of all oil and gas companies in the US. If you want to see a real Charlie Foxtrot then visualize the government exploring for oil and gas.
A more rational response it to make BP clean up the mess and then improve the technology and procedures for drilling at those depths. Throwing in the towel is no a good option.
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