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Thursday's hearing in congress with Tony Hayward was an embarrassment to the USA. Hayward did a great job and shows he is substantially more intelligent that anyone on the subcommittee.

They were beating a dead horse. I'm sure BP wants to get this fixed. If the greens wouldn't have pushed us a mile down to the ocean floor, we could have capped this already.

Remember Union Carbide's radiation leak in Bhopal, India (1984 I think). They filed bankruptcy. Couldn't pay when claims kept coming in. Look for possible BP to file. And then retirees in Britain, US and the world around will lose a lot. Plus the US will be 4th in line for environmental claims. Creditors then Shareholders first and second I believe.

JMHO

Precisely. Allowing the Phantom of the Opera to lead the attack with his clown committee was the worst thing for the Dhimmis. I doubt that anyone outside Santa Monica can stand the sight of Waxman.

Remember Union Carbide's radiation leak in Bhopal, India (1984 I think). They filed bankruptcy. Couldn't pay when claims kept coming in. Look for possible BP to file. And then retirees in Britain, US and the world around will lose a lot. Plus the US will be 4th in line for environmental claims. Creditors then Shareholders first and second I believe.

That was poison gas, not radiation. But the big difference is the profitability of the company. BP America (Not BP Plc the parent company) turned a profit of 16.7 billion in 2009. The cleanup is estimated to be between 37-60 billion dollars. They could do that on a ten year note and never have a loss in any single year. Union Carbide had to wright off the US market when the balked a paying the claims in Bhopal. The US market for oil and gas is worth way more than $60 billion. BP will take the hit (1) because they can and (2) because the what they give up to avoid paying the claims is worth more than the cost of paying the claims.