BP disaster started in February?

Hot Air ^ | June 19, 2010 | ED MORRISSEY

[Brugmansian]

Also, Goldman Sachs and BP CEO Tony Hayward sold a bunch of BP stock during the 1st Quarter, seemingly, “unaware” of the then thought impending disaster.

What did Lloyd Craig Blankfein know and when did he know it? Last release of WH logs show him meeting with Summers on Sept. 30 2009. Did he meet with anyone in the White House in the first three months of 2010 when GS sold nearly half its stake in BP? Anyone else sell or short BP?

Goldman Sachs had moved BP from "neutral" to a "buy" shortly before it dumped over a quarter of a billion dollars worth of BP stock too

[Bryan24]

They likely sold their stock, not becasue they foresaw the disaster, but because they had sunk millions into this well and they knew there was a huge oil deposit there, but they knew they needed to shut down the well.

Shutting down that operation would cost them money because the stock would have dropped a fair bit on the news that they would not have these new earnings.

Sell high, buy low.

Basically, this was legal insider trading. But, they KNEW of the difficulties being encountered and the impending loss.

Someone at BP made a decision to go forward on this well. THAT person is who BP is protecting OR selling out.

And if I were a betting man, BP cut a deal at the White House that will serve the underlings up to the Feds but insulate the higher ups. Also, if I were a betting man, BP has been cleansing BP corporate of any traces of evidence that they knew what was up.

This wasn’t a shake down, it was a deal. Heyward traded BP middle managers and the shareholder for his freedom and personal liability.

[Enterprise]

"This revelation shows that the disaster was far from unforeseen. In fact, it appears that it had already come close to a catastrophic blowout just six weeks before eleven people died in the subsequent explosion. BP didn’t exactly keep it a secret, either. They informed MMS of the problem, which apparently did nothing to intervene in a situation serious enough that a similar situation caused Exxon to shut down its well in 2006."

Ah yes, 2006, I remember it well. That was when George W. Bush was President. But this is 2010, and Obama is in charge. What a difference a couple of years makes.

But I agree with you point. BP is to blame for the failure. And the Government can be blamed for not enforcing its own regulations. When Obama decides to really kick some ass, he can start getting names from February of 2010 and work forward. There are a lot of asses to kick in the Government and BP.

[fanfan]

I consider that to be a compliment.

Me too.

:-)

[trisham]

Me three. :)

[fanfan]

LOL, it all depends on what you value, right?

And the Pres__dent’s values are foreign.

[trisham]

I never thought that this day would ever come.

[Jo Nuvark]

4-1-10 OBAMA: “I looked around and there were no cracks opened up in the earth.”

4-15-10 BP ENGINEER: “Deepwater Horizon is a nightmare well.”

http://blogs.discovermagazine.com/intersection/tag/deepwater-horizon/

The Committee’s investigation is raising serious
questions about the decisions made by BP in the days
and hours before the explosion on the Deepwater Horizon.
On April 15, five days before the explosion, BP’s drilling
engineer called Macondo a “nightmare well.” In spite of
the well’s difficulties, BP appears to have made multiple
decisions for economic reasons that increased the danger
of a catastrophic well failure. In several instances,
these decisions appear to violate industry guidelines
and were made despite warnings from BP’s own personnel
and its contractors. In effect, it appears that BP repeatedly
chose risky procedures in order to reduce costs and save
time and made minimal efforts to contain the added risk.

[fanfan]

Too late to worry about that now.

Find ways to stop him at every turn.

BTW, are the oil sucking barges back in the Gulf now, or has Obozo put a moratorium on life jackets?

[trisham]

I don’t know. :(

[BP2]

"Yes, this makes it much more understandable why Hayward dumped such a large amount of BP shares of stock."

Good point. When I first saw that report, I didn't think too much of it because executives sell company stock all the time, usually just to diversify their holdings. This report puts it in a whole new light.

And based upon the incestuous nature between BP and Team Obama, I'd really like to know who else may have profited from any insider information:

[numberonepal]

Cross reference

[Vendome]

 

You'd think after nearly two years he would just go back to Texas, Quietly and write a book.

 

 

[rawhide]

On March 10th, BP e-mailed the MMS drilling director for New Orleans that they were in the midst of a “well control situation,” a result which led a Berkeley engineer to tell Bloomberg that “they [BP] damn near blew up the rig.” That was just a day under six weeks before the rig actually blew up in the Gulf.

In fact, it appears that it had already come close to a catastrophic blowout just six weeks before eleven people died in the subsequent explosion. BP didn’t exactly keep it a secret, either. They informed MMS of the problem, which apparently did nothing to intervene in a situation serious enough that a similar situation caused Exxon to shut down its well in 2006.

And who was president at the time of this explosion? Was it Bush?

[rawhide]

Seems to me this all completely into obamma’s lap! Completely! The timeline shows that Bush had nothing to do with this. None!

[cripplecreek]

That’s exactly why I went looking for a timeline on when the drilling started.

[musicman]

"BP disaster started in February?"

[musicman]

[Munz]

>It’s all Bush’s fault.<

Yep, you beat me to it!

[Munz]

>It’s not the crime ... it’s the cover-up.<

That picture is the dream of my dreams