That’s Matt Taibbi, author. Grievous misspelling; sorry!
HEY! EVERY DEMOCRAT was screaming for BP’s HEAD and the BOYCOTTED them and Obama made them hand over 20 BILLION DOLLARS!!
Well, somebody tell me what corp. could withstand a $20 billion shakedown by brockobamavich.
If their bankruptcy opens a can of worms, we have brocko to thank.
A worldwide crash to zero might be worth it, if it would get rid of Rolling Stoned.
OK, BP screwed up here...
BUT...
The MMA had been inspecting this rig and giving them safety awards at every step along the way.
The Coast Guard wound up sinking the rig because they couldn’t control the firefighting operation.
The EPA prevented the use of fire booms and burning because they were more concerned with aesthetics than ecology.
The Coast Guard approved the use of dispersants at the point of the leak, because they did not want a slick appearing on the surface, but this made the oil almost impossible to capture and clean up.
The US Army Corps of Engineers prevented the use of sand berms, a well-established and effective technique, to protect sensitive wetlands.
The White House shook down BP for Billions, without having the slightest idea how much money was needed or how the money would be spent.
and finally,
The Interior Department put the keebosh on the entire offshore exploration industry for no reason whatsoever.
But, you’re right... It’s all BPs fault.
Why no barf alert on this post?
So how much can we expect to pay for the BP bailout?
Screw these Marxists. I am sick of private industry being demonized.
Oil is a critical industry to our nation; and it sometimes is messy to get at.
I saw a report which states BP’s assets in the ground at $1 trillion. This hit of $ 20 billion seems survivable. Even with the best of intentions things do go wrong (e.g. Titanic)and the company deserves a fighting chance to remain a going concern.