Usa Power In Decline

[oldmanxfella]

IIRC there was some proposed legislation a while back to enforce oil companies to drill relief wells at the same time in sensitive areas, but I suspect it got lobbied off the agenda.

 

That is the problem with the Yanks their political system is so rotten to the very core that sensible legislation with teeth is never possible when there is big money at stake as everyone just gets bought off to make sure that slacker legislation is in place and government controls are watered down to nothing. Then when the shit hits the fan and its too late they come out with the big words and threats of lawyers and multi billion dollar compensation. Basically they're full of shit which is why Obama is just pointing fingers and shooting his mouth off; it deflects from all America's short comings and failure to regulate properly those companies working off its coasts. If the Republicans were still in power Britain would probably have been invaded by now just because of the "B" in BP had pissed them off.

[Bombay Bad Boy]

Re: USA's power, I feel it's just that O'bama is not a war monger like his predecessor and hasn't been going around threatening everyone. However, when he goes and if that intellectual woman....what's her name again? Oh yeah, Sarah Palin, gets in then she'll carry on where Bush left off and start pissing every Arab and Asian Country off and attacking all and sundry....

Only at certain times of the month.

[La_Dolce_Vita]

You don't think Obama is a war monger? What about the escalation of the conflict to Pakistan and the call to have more troops sent in?

[thebees]

So we have ascertained that America has 'issues', rotten politicians (historically so), rotten CIA, rotten insurance companies, banks, and a country full of stupid people who think no further than their next Big Mac the big question must be, what is to be done? There is nothing to be done. If you and your corporation have enough money, hey, you can do what ever you like and the government will bend over backwards to help you, throw another pauper on the bonfire. Good morning.

 

I think Nostradamus mentioned something about China too. OFC you cannot trust anything he said, he was nuts.

[Cambon]

 

1. That seems a cynical response to a disaster which will have a significant ecological impact. Meanwhile the lives and jobs of people who live and work in that region and many other industries will be affected. Those people and other industries are just as important as British people.

 

Obama is shouting his mouth off and being seen to be doing something. He could not have wished for this to come along at a better time. US is just coming up to mid term elections and Obama has lost the faith of many of the southern black people. He is well down in the poles. I am not a conspitiacy theorist, but it would not surprise me if it was pre-arranged.

 

2. As proxy shareholder, pension fund clients have a responsibility for how their money is invested. Though I very much doubt that there will be any long term impact either on BP's profitability or on the pension funds. The total pot might comprise 7% but no well managed fund is going to be so exposed to one company or to one industry.

BP is (approx) 40% UK owned and 39% US owned. It is affecting their pensions as much, if not more than ours. I heard this morning that the total cost when this is all over it is expected to be the equivalent of 2 years dividend.

 

3. BP stand to gain from higher oil prices over the months ahead which will offset to some extent their losses. Though they will certainly be insured. And the price of oil is itself an insurance for them to some extent. Especially given the on going problems with the Alaskan pipeline supplies.

 

I agree with you there. Also, what they manage to capture and clean up will not got to waste.

 

4. 30 years ago there was a similar catastrophe in the Gulf which took 10 months to fix. Like now, that also coincidentally coincided with problems with the Alaskan pipeline - leading to a sharp hike in oil prices in the months ahead. There has to be strong argument against allowing drilling in ever deeper waters and remote regions unless or until the technologies for preventing or coping with mishaps are improved in concert. 30 years on the same methods which failed last time are being tried again.

 

Within days of the catastrophe, BP said it will take until August at the earliest to stop the leak. Obama is simply sabre rattling to gain support for his mid term elections. The oil platform that "exploded" was american owned, american run, and the safety valve override which is supposed to automatically close to stop leaks like this is american designed and built. BP basically rent the thing to take the oil. .

[Bombay Bad Boy]

May as well be oil