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Five crucial moves by BP: Did they lead to Gulf oil spill disaster?
The Christian Science Monitor ^
| June 17, 2010
| Peter Grier, Staff writer
Posted on 06/17/2010 2:55:59 PM PDT by Ernest_at_the_Beach
Washington
BP made five crucial decisions in the name of saving money that may have contributed to the catastrophic Deepwater Horizon oil spill, according to top Democrats on the House Energy and Commerce Committee.
Prior to the April 20 disaster, the Deepwater Horizon rig was behind schedule in drilling BPs Macondo well, according to internal e-mails and documents examined by committee staff. This may have increased pressure on executives to take shortcuts so the well would be producing as soon as possible.
(Excerpt) Read more at csmonitor.com ...
TOPICS: Business/Economy; Government; News/Current Events; US: Louisiana
KEYWORDS: bp; deephorz; deepwaterhorizon; energy; offshore; oil; oilspill
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To: Ernest_at_the_Beach
I remember laying all this out weeks ago.
Of course, as usual, no one listened.
2
posted on
06/17/2010 2:57:43 PM PDT
by
UCANSEE2
(The Last Boy Scout)
To: Ernest_at_the_Beach
Typical Risk Management thinking.
Hedging the odds.
The Gulf lost.
3
posted on
06/17/2010 2:58:42 PM PDT
by
Marty62
(marty60)
To: UCANSEE2; Sub-Driver; BOBTHENAILER; SunkenCiv; Marine_Uncle; onyx; NormsRevenge; Grampa Dave; ...
Well,...it has to be sanctioned by the elites....
To: Marty62
Typical Risk Management thinking. Hedging the odds. The Gulf lost.And BP will lose. Talk about 'penny smart, pound foolish.'
5
posted on
06/17/2010 2:59:39 PM PDT
by
dfwgator
To: UCANSEE2
I listened, I've also put in the hard work to study this issue.
BP is an evil, lying, smarmy animal that must be put down.
Anything less is giving aspirin to a rabid dog.
6
posted on
06/17/2010 3:00:15 PM PDT
by
norraad
("What light!">Blues Brothers)
To: Ernest_at_the_Beach
They gambled for incredible riches, got cheap, and lost the bet.
Oops.
7
posted on
06/17/2010 3:03:08 PM PDT
by
Tolsti2
To: Ernest_at_the_Beach
Yah, but otoh, had the Well worked as hoped, then BP would have made even greater profits and we shareholders (and British pensioners) would have received even larger dividend cheques.
So some you win and some you lose. What you lose on the potatoes, you make on the corn.
8
posted on
06/17/2010 3:03:33 PM PDT
by
Riodacat
(Never attribute to malice what can be adequately explained by stupidity.)
To: Ernest_at_the_Beach; CSM
9
posted on
06/17/2010 3:04:04 PM PDT
by
Nephi
(Bush legacy: "I had to sacrifice free market principles to save the free market.")
To: UCANSEE2
I can think of few things worse than having to stare at Waxman's ugly mug for hours.
So I guess BP is getting some comeuppance.
To: norraad
BP is an evil, lying, smarmy animal that must be put down. That would be really dumb. If you want BP to pay for its mistakes, it must be kept alive and profitable in order for it to make restitution.
11
posted on
06/17/2010 3:06:28 PM PDT
by
Riodacat
(Never attribute to malice what can be adequately explained by stupidity.)
To: dfwgator
Yep, but I do give them credit for outsmarting Zero.
He thought he was REEEEAAALLLY sticking it to BP (20 Billion Slush Fund), but Bp jumped at the chance to wash their hands of all the claims. It is NOW ZEROs Baby. Yet another epic failure by the idiots in the WH.
12
posted on
06/17/2010 3:09:46 PM PDT
by
Marty62
(marty60)
To: Ernest_at_the_Beach
The response and letting the spill reach shore, a contributing factor that made it catastrophic.
13
posted on
06/17/2010 3:10:10 PM PDT
by
anglian
To: dfwgator
Talk about 'penny smart, pound foolish.' More like 'penny smart, ton foolish.'
To: Ernest_at_the_Beach
I disagree with Barry’s shakedown of BP (yeah, I’ll call it that), and don’t want to see the company put out of business, but BP does seem to have had a shoddy safety record compared to other oil companies and it really came back to bite them (and us) this time.
To: Riodacat
Obama wants to take over BP, just like GM.
16
posted on
06/17/2010 3:12:08 PM PDT
by
dfwgator
To: Riodacat
Nothing anyone says here makes any difference anywhere anyhow, I was just expressing an 'expert' opinion from having direct experience with the BP culture.
17
posted on
06/17/2010 3:15:23 PM PDT
by
norraad
("What light!">Blues Brothers)
To: Ernest_at_the_Beach
All changes approved by MMS?
18
posted on
06/17/2010 3:16:13 PM PDT
by
SouthTexas
(Congress is out of order!)
To: Ernest_at_the_Beach
Who is the manager(s) that insisted that these safety precautions be bypassed? Are they still working for the company, and will he be called to testify before the House committee. These are the guys that need to give an account of why this happened!
19
posted on
06/17/2010 3:27:18 PM PDT
by
rawhide
To: Riodacat
40% of BP shareholders are Americans. BP creates tens of thousands of American jobs.
20
posted on
06/17/2010 3:28:31 PM PDT
by
kabar
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