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Des. I see your point but just WHAT can we do to punish the ones guilty of this environmental crime? Its a waste of time to write our congressmen. They are the ones who stood back and let BP get around the safety rules and cut deals. They also share the blame.
The answer is probably painfully little. At least if we wish to A) remain within the confines of Due Process and B) not shoot ourselves in the foot.
I'm no legal scholar, but I'm pretty sure that if anyone is going to be jailed over this, intent to do harm would need to be proven. I seriously doubt BP or TransOcean got together one day and said "hey let's destroy the Gulf Of Mexico". There is no doubt that they are guilty of negligence and wanting to cut corners and all, but I doubt anyone will go to prison over it. Even if "criminal negligence" charges can be bought, some lawyer that charges $10,000 an hour (along with a 'gift' to a judge) will see to it that he/they get off on a technicality, pay a little fine, and move on with business as usual.
Hey if Goldman Sachs, AIG, etc, were able to get off the hook (and be rewarded) with the "mistakes were made" defense, then why not here?
we really need to look at whoever thought that off-shore drilling was a good idea. There has never been a pipe or pump created that could never fail. BP was just the unlucky one this time.
Until we learn to live without less oil, and it's by-products, we are going to have more of this type of disaster.
If you own a diesel, buy biodiesel. Sure it's 50 cents a gallon more, but even at 20% it doubles the usefull life of your engine oil, the engine and injectors, and the pumps.
So in reality it is a wash on cost.
If you are a commuter, invest in an electric, or air car.
Even natural gas and propane have advantages.
We can lessen the demand and impact of dirty fuels.
The Airlines and Military are using jet fuel made from Camelina oil.
Support your local fuel producers. In fact support anything made in the US or your hometown.
Its a waste of time to write our congressmen. They are the ones who stood back and let BP get around the safety rules and cut deals.
Yes, and just like with the financial crisis, we all run around demanding Goldman Sachs or BPs heads on platters, when in reality, it was lax governement oversight and regulators getting far too cozy with the businesses they are supposed to be regulating that should be blamed (when they're not sitting back watching online porn, that is). If you want the real culprits in both of these disasters, look no further than Washington, DC.
we really need to look at whoever thought that off-shore drilling was a good idea. There has never been a pipe or pump created that could never fail. BP was just the unlucky one this time.
Until we learn to live without less oil, and it's by-products, we are going to have more of this type of disaster.
BP wasn't un lucky, it was greedy and impatient. If you listened to the 60 minutes report. They knew the blowout preventer was damaged. The hard rubber seal was ground up and came out at the drill rig. They also told the rig operators to move forward when there were concerns.
They are the ultimate responsible party, and if i were in the stock gamble, i would short them all the way down.
[QUOTE]BP wasn't un lucky, it was greedy and impatient. If you listened to the 60 minutes report.[/QUOTE]
Yeah, I'll base my opinion on what that paragon of journalistic integrity 60 Minutes tells me. I wouldn't believe that show if they told me the sky was blue. Might as well get your news form Jerry Springer.
[QUOTE]BP wasn't un lucky, it was greedy and impatient. If you listened to the 60 minutes report.[/QUOTE]
Yeah, I'll base my opinion on what that paragon of journalistic integrity 60 Minutes tells me. I wouldn't believe that show if they told me the sky was blue. Might as well get your news form Jerry Springer.
Who said anything about believing 60 min.? The worker that gave his story is the most credible source. He was there.
You might want to post this over in an Environmentalist forum. We are investors here.
I think that I like BP stock at this price level.
I did too. But I am thinking BP is going to be finished and it's gonna cost them at least a billion dollars or more and tons of secondary and tertiary expenditure.
And that goes down to the usual path of eventual crumbling and some other oil major buying them out. I won't be too surprised if BP collapses in the next 4 or 5 months and Exxon or someone buys them
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