Couldn’t predict… didn’t expect.
Turns out that the grand wizards of corpocrazy have been exposed yet again.
Financial meltdown? Not gonna happen!
Major oil spills in the Gulf? Highly unlikely!
Finance and oil – profit margins other industries can only dream of. Must be visionary management…
These crooked CEOs and CFOs knew all along that the risks were immense, but what do they care as long as the bottom line is surpassed and obscene bonuses await at year-end.
Via AP:
Document: BP didn’t plan for major oil spill
BP suggested it was unlikely, or virtually impossible, for an accident to occur that would lead to a giant crude oil spill and serious damage to beaches, fish and mammals.
[…]
BP’s 52-page exploration plan for the Deepwater Horizon well, filed with the federal Minerals Management Service, says repeatedly that it was “unlikely that an accidental surface or subsurface oil spill would occur from the proposed activities.”And while the company conceded that a spill would impact beaches, wildlife refuges and wilderness areas, it argued that “due to the distance to shore (48 miles) and the response capabilities that would be implemented, no significant adverse impacts are expected.”
Virtually impossible! Well, now it is a certainty! A major oil spill and consequent disaster for the environment. BP is nowhere close to containing the blow-out and the spill is increasing in volume, not declining. BP has acknowledged that 210,000 gallons leak every day, abandoning a claim that it was “only” 42,000 gallons a day.
Not only did BP dramatically downplay the possibility of disaster – they actively lobbied against stricter regulations:
While the cause of the fire and explosion on Deepwater Horizon is still uncertain, one thing is clear: BP, which was in charge of operating the rig, has a history of fighting tough regulations and safety inspections, misleading federal authorities about the dangers of a potential oil spill, and actively advocating for more relaxed safety standards — much like Massey Energy Co. repeatedly fought tougher regulation of mines.
It will be costly for BP and its shareholders:
BP says that the offshore drilling accident that is spewing thousands of barrels of oil a day into the Gulf of Mexico could cost the company several hundred million dollars.
[…]
But regardless of the out-of-pocket costs, the long-term damage to BP’s reputation — and possibly, its future prospects for drilling in the Gulf of Mexico — is likely to be far higher, according to industry analysts.The magnitude of the Deepwater Horizon disaster seems to be finally sinking in with investors. BP’s stock plunged more than 8 percent Thursday in American trading in an otherwise strong day for stocks. Since the accident, the American depositary receipts of the company have fallen about 13 percent, closing Thursday at $52.56.
Let the full and true costs be borne by BP and any manager responsible for the safety failures.
.
(Daily Mail) – Fishermen rushed to scoop up shrimp and crews spread floating barriers around marshes in a desperate attempt to stave off an environmental disaster.
But the threat to life along the Louisiana coast – and the devastating repercussions for the local economy – threatened to be even greater.
Fingers of oily sheen were reaching the Mississippi River delta, lapping the Louisiana shoreline in long, thin lines. The slick is estimated to be 600 miles in circumference and is set to devastate hundreds of miles of coastline.
‘It is of grave concern,’ David Kennedy of the National Oceanic and Atmospheric Administration, said.
Photo’s of last line of defence: The flimsy oil booms are now all that stands between the birds and other marine life here on Breton Island and along hundreds of miles of the Gulf Coast, and the lethal tar.
● BP’s responsibility for 15 deaths in Texas refinery explosion
"But I will not let myself be reduced to silence."BP CEO says will pay oil spill claims
Gulf of Mexico oil gush ‘could increase 10 times’
They really need to cap the well…..if they can. We are going to loose the whole Gulf coast. Thank you BP and all your oily political pals.
as bill maher said last night: “l’m pissed off this week, becausethe gulf of mexico is now the gulf of texaco”.
of course they didn’t have a plan, it’s a prime example of the what, me worry? attitude of the oligarchy. the taxpayer’s will pick up the tab; to wit, the bank bailouts and subsequent lack of any meaningful oversight and restraint of wall street coming down the pike.
welcome to the future…we’re glad you made it.
.
SMSLegal) – Cameron International Corporation the second-largest United States maker of oilfield equipment, provided the blowout preventer for the Transocean Ltd. rig in the Gulf of Mexico that caught fire and sank last week.
Cameron’s gear has been used on the Deepwater Horizon rig, which was built in 2001 to operate in seas as deep as 8,000 feet, since the vessel was commissioned.
Cameron, Halliburton, BP
Cameron dropped $5.77, or 13 percent, to $38.70 as of the 4 p.m. close of the New York Stock Exchange and traded as low as $34.65. The Houston-based company said yesterday that it provided so-called blowout preventers for Transocean Ltd.’s Deepwater Horizon rig, which caught fire and sank after an explosion last week.
Halliburton fell $1.75, or 5.3 percent, to $31.60, and Transocean dropped $6.32, or 7.5 percent, to $78.51. BP fell 6.5 percent to 584.2 pence in London.
The drilling crew that works with BOPs and operate the offshore drilling rig typically consists of roustabouts, roughnecks, floorhands, lead tong operators, motormen, derrickmen, assistant drillers, and the driller. Since drilling rigs operate around the clock, there are at least two crews (twelve hour work shifts called tours, more common when operating offshore), or three crews (eight hour tours, more common onshore).
OSHA, the federal agency charged with occupational safety, has a web page devoted to safe drilling practices and on this page the agency lists suggestions.
"But I will not let myself be reduced to silence.".
NEW ORLEANS (Times Picayune) – Oily odor reported in New Orleans
Residents throughout the New Orleans area reported an oily odor apparently coming from the spill, which was more than 90 miles from the Crescent City.
State health and environmental officials requested continuous air quality testing and monitoring by the federal Environmental Protection Agency.
Health officials said people sensitive to reduced air quality may experience nausea, vomiting or headaches. Anyone with these symptoms should consider staying indoors, ventilating their homes with air conditioning and avoiding strenuous outdoor activity, the officials said.
U.S. Homeland Security Secretary Janet Napolitano declared that the oil spill is of “national significance,” allowing the federal government to devote more people and resources to clean-up efforts.
Jindal asked the Defense Department to pay for 6,000 members of the Louisiana National Guard to assist with the cleanup for at least 90 days.
Commercial fishers pitched in by placing containment booms to help protect their livelihoods as the spill threatened one of the nation’s most productive fisheries, supplying 50 percent of the wild shrimp crop.
Federal ‘lackadaisical response’ worrisome
State lawmakers expressed growing concern about whether the federal government and corporate officials are reacting with the speed and resources required to avert an environmental and fishing industry disaster.
Citing memories of the faltering federal response to Hurricane Katrina nearly five years ago, Rep. Sam Jones, D-Franklin, told the House chamber that he was “in deep concern about the lackadaisical response we have gotten on the oil spill containment.”
After participating in a conference call with officials from the state and BP, Jones said he was distressed about what appeared to be a lack of plans and preparation for containment to prevent the oil from coming ashore. He said the officials have a clean-up policy, but not a prevention policy.
“I would ask the president to send all he can now,” said Jones, who was an aide to Gov. Kathleen Blanco during the Katrina response. “We need the facts, we need the A-team here.”
Doug Suttles, BP’s chief operating officer, said the response is the largest oil spill containment operation in history, with more than 1,000 workers and 76 vessels.
BP’s responsibility for 15 deaths in Texas refinery explosion
"But I will not let myself be reduced to silence."We cannot worry about who will pay BP needs to cap its well. This is a nightmare. This needs massive and immediate response and that means lots of Federal money. BP has screwed us. The banks screwed us. When will the American people realize the system is rigged. The corporations have an extra ace and that ace is our tax money. Our tax money could be going to creating a better society. Time after time its stolen to clean up some nightmare and protect stock prices. We are hostages again we have to pay the ransom.
The Gulf coast is going to be a toxic waste dump either way but BP needs to cap their fucking well!
.
(Wikinvest) – Transocean (RIG), as the name implies, is the biggest U.S. provider of rigs, platforms and services for offshore drilling. The company acquired Santa Fe International (GSF) in late November 2007, creating the second largest oilfield services company overall, behind only Schlumberger N.V. (SLB) (based on market capitalization). Given that GSF also specializes in offshore drilling, the company in effect doubled down on deepwater drilling.
BP, Transocean Lawsuits Surge as Oil Spill Spreads in Gulf
On April 22, 2010 a lawsuit (http://www.offshoreinjuries.com/CM/Custom/4.22.10-1st-amended-petition-Kleppinger.pdf) (Cause No. 2010-25245, filed in Harris County ED101J015754153) was filed by Houston-based law firm, Gordon, Elias & Seely, L.L.P., against Transocean Offshore Deepwater Drilling, Inc., Deepwater Horizon, and BP Products North America, Inc. on behalf of Kleppinger’s wife and son. The lawsuit claims that the defendants were negligent and that the Deepwater Horizon drilling rig was not seaworthy.
At the time of the explosion and fire, Kleppinger had been away from his family for about three weeks. On Tuesday night, just before the blast, he made his nightly call home to his wife, Tracy. They talked about how he would be ashore in the morning and how he planned to buy a new washing machine to replace a broken one on the following day.
≈ Cross-posted from BooMan’s fp story — Uh, the Spill Has Impact ≈
"But I will not let myself be reduced to silence."Leaking Oil Well Lacked Safeguard Device
(bold added)
Why plan for the inevitable when you can put only a fraction of that cost into ensuring that you won’t be held financially accountable?
It’s good business sense.
.
Too big to fail!
Who needs socialism?
"But I will not let myself be reduced to silence.".
(FT) – I had first wanted to meet John Browne in 1995 when, after working for the company for 30 years, he had become chief executive of BP. By 2002 he had been created a life peer and named the most respected figure in business for three years running (the Financial Times describing him as a “sun king“).
Report Beyond Safety
BP's eco flower≈ Cross-posted from Steven D’s fp story — Oil Spill Grows; BP Cries a River ≈
"But I will not let myself be reduced to silence.".
VENICE, La. (NY Times) — About 1,000 angry and frustrated fishermen packed an elementary school gymnasium here Friday afternoon. In a cruel occupational twist, they were seeking employment with the company they blame for an oil spill that may wipe out their industry this year and beyond.
Life in this coastal community centers on seafood — mullet, shark, shrimp and oysters. From May to December, dozens of boats haul shrimp here from the Gulf of Mexico. But aside from two days of fishing allowed this week ahead of the approaching oil slick, the shrimp season has been suspended.
So the fishermen came to receive training in how to clean up the oil spill that was creeping up on the nearby coastline. They were hoping to be hired by BP, the company blamed for the spill and responsible for cleanup efforts.
.. David Kinnaird, a project director for BP who is coordinating the company’s response in Venice, said BP would hire as many local workers as possible. “We’re not asking the community to do this work for nothing,” he said. “BP is willing to compensate them.”
But Mr. Kinnaird could not say when local fishermen would be hired, how much they would be paid or whether they would be compensated for their lost revenue.
BP voids fishermen's cleanup contracts in La., cites legal mix-up≈ Cross-posted from TerranceDC’s fp story– Conservative & Corporate Failure in the Deepwater Disaster ≈
"But I will not let myself be reduced to silence.".
We’ve all been shocked and saddened by the tragic events in the Gulf of Mexico. My heart breaks for coastal residents who are facing fears of the unknown impacts of the oil spill.
Production of our own resources means security for America and opportunities for American workers. We need oil, and if we don’t drill for it here, we have to purchase it from countries that not only do not like America and can use energy purchases as a weapon against us, but also do not have the oversight that America has.
… How could I still believe in drilling America’s domestic supply of energy after having seen the devastation of the Exxon-Valdez spill? I continue to believe in it because increased domestic oil production will make us a more secure, prosperous, and peaceful nation.
Safeguarding America’s prosperity and freedom
"But I will not let myself be reduced to silence.".
The U.S. government had two months to prepare for the expected impact of the IXTOC I oil on the Texas shoreline. During this time the government realized the importance of coastline mapping in regards to oil sensitivity. This led to a mapping project which resulted in the first Environmental Sensitivity Index (ESI) prepared by Research Planning , Inc. (RPI)
In Texas, an emphasis was placed on coastal countermeasures protecting the bays and lagoons formed by the Barrier Islands. Impacts of oil to the Barrier Island beaches were ranked as second in importance to protecting inlets to the bays and lagoons. This was done with the placement of skimmers and booms. Efforts were concentrated on the Brazos-Santiago Pass, Port Mansfield Channel, Aransas Pass, and Cedar Bayou (which during the course of the spill was sealed with sand).
Economically and environmentally sensitive barrier island beaches were cleaned daily. Laborers used rakes and shovels to clean beaches rather than heavier equipment which removed too much sand. Ultimately, 71,500 barrels of oil impacted 162 miles of U.S. beaches, and over 10,000 cubic yards of oiled material were removed.
[Shallow water depth 150 ft., drilling depth 2 mi. – the burning platform collapsed into the wellhead area hindering any immediate attempts to control the blowout (BOP). – Oui]
"But I will not let myself be reduced to silence.".
U.S. Department of the Interior
Minerals Management Services
Gulf of Mexico OCS Region
America’s Offshore Energy Future [warning: pdf 9Mb – 112 pp]
(MMS) – This year saw a record-setting lease offering – Sale 206. This Central Gulf sale attracted approximately $3.7 billion in high bids – the most since Federal offshore leasing began in 1954. The MMS received 1,057 bids from 85 companies on 615 blocks. About 67 percent of the blocks receiving bids were located in deep water [water depths of ≥1,312 ft or ≥400 m; this report considers activities in ≥1,000 ft or ≥305 m as deep water] with approximately 34 percent of the blocks bid upon in ultra-deep water (water depths of ≥5,249 ft or ≥1,600 m; this report considers activities in ≥5,000 ft or ≥1,524 m as ultra-deep water). The sum of the high bids for deepwater blocks was over 93 percent of the total. The ultra-deepwater blocks accounted for about 54 percent of the total high bids.
MMS Recognizes Companies for Safety Excellence in GOMR oops … Awards postponed
Norway’s Ocean Rig with ‘zero discharge policy’
Plenty of information about financial rewards for bidding, lease and a policy of
more risk, more reward – Deep Water Royalty Relief Act (DWRRA).
"But I will not let myself be reduced to silence."