Lets learn from B.P.

[CXtreme]

British Petroleum promoted C.E.O.'s who was famous for cost cutting and increasing the bottom line.

We now know where all the cost cutting got them. Lets not make the same mistake.

[Time Traveller]

It's called BPand has been since 2001!

[ALPHA FLOOR]

You feel strongly about that Time traveller... BP, B.P. or British Petrollium are one and the same to me and most others since 2001.

AFL

[CXtreme]

I Google British Petroleum and this came up;
Oil spill: British Petroleum to put 20 bln dollars in Escrow to pay off claims

Don't worry Time Travel, we are not upset at you, only at these C.E.O.'s and their cost cutting and risk taking, feeding their greed

[Time Traveller]

Its OK - Its just the Brits feel a bit insulted at the moment by the clearly Anglophobe rhetoric spouted by Obama, and the pointed determination to refer to BP as "British" Petroleum, is rather symptomatic of that, (and ironic since it is almost 50% owned and staffed by Americans, and is listed in the US, UK, Paris and Frankfurt.)

The assault on BP also conveniently over-looks the part played by American companies, Transocean, Halliburton and/or Cameron, and also turns a blind eye to Americas record of relatively uncompensated death, maiming and horrific pollution at Bhopal, incompetence in the explosion of the Piper Alpha rig in the North sea, and current and routine massive oil leaks poured into the Niger Delta by American oil companies .

But heigh ho - "they're not Americans so it doesnt matter"

Sorry - as you were...

[BusyB]

Well it used to be British once so I suppose that applies to everything. Wasn't America British once?

[dartman2]

As an aside, I think you will find that the rig was owned and crewed by Transocean on a lease to BP.

[dribbler]

They stuck a flag on the oil rig and claimed it as thiers as well?

[geh065]

Is there any evidence to say that cost cutting caused the accident that sank the rig? Some things are destined to break and fail, cost cutting or not...

[CXtreme]

Back to my original point. I don't care if it's BP, McDonalds or ToysRus, there is a lesson to learn from this, whether it's Eskimo owned or German owned.

Capital Hill seems to think it's management risk taking, and cost
cutting .

[wondering]

I remember seeing a BP commercial some time ago and BP stood for Beyond Petroleum. Wishful thinking, hey. Letīs face it BP is another company 'too big to fail'. With 80000 employees nobody will force them to pay for all the damage and risk them going bankrupt. Exxon Valdez springs to mind. Exxon never payed for all the damage. Just ask the folks in Alaska. Another big business dilemma.

[Obbie]

Oh but they will pay this time, and pay big time.

Because this time it was done by a foreign company, and it didn't
happen in Alaska, it happened right in the country's main back yard.

And the CEO has all the public character of a classic British idiot.

That 2 billion dollar claims pool they were forced to create is just
the beginning.

[Busbert]

Lets not forget:
BP was born out of the 1953 CIA sponsored coup in Iran that extinquished democracy and put the Shah in power (the birth of the 'axis of evil'). Iran had nationalised it's oil industry, rather annoying the Brits and the Yanks, so they exerted a regeime change that lead to the Islamic Revolution.

[AAIGUY]

@Busbert.. surprised anyone else knows that..Theres not too many that do..