The Gulf oil spill is dying in the news. What made headline news every single day just a month ago is now less and less in all the media.
BP should be breathing a little easier these days. Goody for them.
It may have 'died' somewhat as a news item, but the animal species keep on dying in the Gulf. For a sobering and depressing daily tally on the amount of species that have died or could die due to being drenched in oil, visit the excellent website: http://dailydeadbirds.com/. It's a one-page website that just gives the tallies. As of yesterday, the death toll for seabirds was 1 682, dead sea turtles numbered 452 and dead mammals (dolphins, porpoises, etc) was at 57.
One can only shudder at just what the numbers must be for dead fish.
82 days since the spill and the creatures keep dying.
Creatures at our mercy. Can you imagine being that much at our mercy?
The oil keeps spilling and spilling and the excuses by BP become more and more insufferable, more corporate greenwash. Even if now it's considered less newsworthy.
And that's the paradox of our modern media-saturated information age. Yes, we know more and we know it quicker and in so much greater detail. But it too can slip from our collective memory as quickly as it assaulted us when it first 'broke' as a news item.
Is it precisely because we get so bombarded by the 24/7/365 media, like some endless News Item Loop From Hell, that we seem to get so switched off so suddenly? Moving on like herds of restless antelope to greener fields of breaking news heaped on the lives, fortunes and misfortunes of others? It certainly seems that way.
Perhaps we just don't want to keep hearing the same old, bad news. Perhaps we need our bad news to be as fresh and as unique as possible, before that too becomes stale and, well, boring? Because heaven knows good news just doesn't sell as well as the bad, the ugly and the horrific. Maybe it's always been that way.
But there's something very unsettling about the way we are in this regard.
Not to mention fickle. This fickle species called humanity that (thinks it) rules the world as it spews pollution and toxicity wherever it goes. And decides what makes news on a whim based on its own sense of self-importance. And this is replicated again and again after every single 'environmental disaster'. Which, by the way, is inevitably because of our own short-sighted greed or stupidity.
All I can say is thank goodness that the sea turtles and dolphins and seabirds of the Gulf of Mexico don't get to watch just how unimportant a news item they've become on TV.
Do you get my point?
Hi. I'm Vittorio Bollo. I make my point with my rants and raves on issues I care about - from the environment to globalization to politics to Slow Food to grammar to cinema to Formula 1 to...well, just about everything I care to comment on. Come and have a read...
Showing posts with label BP. Show all posts
Showing posts with label BP. Show all posts
Sunday, July 11, 2010
Friday, June 18, 2010
RANT: The Hypocrisy of Power
Few things enrage me as much as hypocrisy. Ever since I can remember, and even as a child, hypocrisy was something that I can simply could not abide.
A real twit atwitter.
But that was no surprise. After all, the man has been a PR disaster for the oil giant since the very beginning of this crisis. The oil giant itself has been a disaster. BP deserves every bit of derision, criticism and all-out anger directed against it - not to mention, dare I hope, continued mounting financial losses.
However, that didn't annoy me half as much as something else, something positively dripping in hypocrisy: the sight of all those pompous, self-righteous congressmen acting all sanctimonious as they attacked Tony.
Are these the same congressmen who belong to a body of legislators who are the most over-lobbied and bought-out politicians of any democracy? Are these the same legislators the vast majority of whom accept huge contributions (read: kickbacks) from the oil lobby, one of the biggest and most powerful in Washingon D.C?
Where has the initiative been by Congress to ensure less dirty, less polluting and more sustainable energy sources for the United States, the largest and most energy-consuming economy in the world? Where was Congress in the oversight of the Mineral Management Services, the much-maligned division of the Department of the Interior that oversees offshore drilling? Nowhere, that's where - they were too busy counting their petrodollar contributions (read: bribes) and turning a convenient blind eye to the fact that oil is dirty, unsustainable and puts American security at even greater risk.
Not to mention the looming uber-monster that is peak oil...
The United States Congress is as much to blame, when all is said and done, for this spill in the Gulf of Mexico. The oil rig may be all BP, but the lax regulations and double standard on energy policy sits firmly at the front steps of Capitol Hill.
And there they sit, lording it over the BP CEO as if they had no part to play in this whole mess.
What a bloody cheek!
If this isn't hypocrisy at the highest levels, then I have no idea what is.
Do you get my point?
A case in point is the appearance yesterday of embattled BP CEO, Tony Hayward, before a congressional hearing on the Gulf of Mexico oil spill.
As expected, Tony came across the blithering British public schoolboy idiot that he is. All clipped accent and sheepish Hugh Grant-esque demeanour, he tried his hardest to deflect the criticism being hurled at him by the congressmen.
A real twit atwitter.
But that was no surprise. After all, the man has been a PR disaster for the oil giant since the very beginning of this crisis. The oil giant itself has been a disaster. BP deserves every bit of derision, criticism and all-out anger directed against it - not to mention, dare I hope, continued mounting financial losses.
However, that didn't annoy me half as much as something else, something positively dripping in hypocrisy: the sight of all those pompous, self-righteous congressmen acting all sanctimonious as they attacked Tony.
Are these the same congressmen who belong to a body of legislators who are the most over-lobbied and bought-out politicians of any democracy? Are these the same legislators the vast majority of whom accept huge contributions (read: kickbacks) from the oil lobby, one of the biggest and most powerful in Washingon D.C?
Where has the initiative been by Congress to ensure less dirty, less polluting and more sustainable energy sources for the United States, the largest and most energy-consuming economy in the world? Where was Congress in the oversight of the Mineral Management Services, the much-maligned division of the Department of the Interior that oversees offshore drilling? Nowhere, that's where - they were too busy counting their petrodollar contributions (read: bribes) and turning a convenient blind eye to the fact that oil is dirty, unsustainable and puts American security at even greater risk.
Not to mention the looming uber-monster that is peak oil...
The United States Congress is as much to blame, when all is said and done, for this spill in the Gulf of Mexico. The oil rig may be all BP, but the lax regulations and double standard on energy policy sits firmly at the front steps of Capitol Hill.
And there they sit, lording it over the BP CEO as if they had no part to play in this whole mess.
What a bloody cheek!
If this isn't hypocrisy at the highest levels, then I have no idea what is.
Do you get my point?
Friday, June 11, 2010
RAVE: BP Bull Busting
I just came across this absolutely brilliant article on the excellent site, Mother Jones. It's an interview between journalist Laura McClure and a mystery satirist who has set up a Twitter profile @BPGlobalPR. His tweets have been mercilessly hurling accusations and revelations at the juggernaut that is the BP PR machine in the wake of the Gulf of Mexico oil spill catastrophe.
A PR machine that has, as we all know, been a bloody fiasco.
The 'BP Cares' online campaign (sardonic logo above) is adbusting as it should be - taking aim at irresponsible corporations who wreck the environment and people's lives. Taking aim at those pervasive logos and brands that have become such a blight of modern life.
The interview between McClure and this mystery man is hilarious in that he plays the role of a 'BP PR' person in the Q&A.
Follow the link here: http://motherjones.com/media/2010/06/bp-global-pr-interview
It's irreverent and funny. Enjoy the read and follow this corporate vigilante on Twitter too.
BP, you so had all of this coming to you.
Labels:
BP,
Gulf of Mexico oil spill,
humour,
Mother Jones,
satire,
Twitter campaign
Wednesday, June 9, 2010
RANT: The Almighty BP Shareholder
We have BP to thank for this in the Gulf of Mexico:
And BP feels justified in paying out $10-billion in dividends to its shareholders!!!
This is corporate arrogance at its very, VERY WORST...
Heaven forbid that shareholders don't get their payouts. I say to hell with bloody shareholders if this is the type of company they choose to invest in...
Shame on you BP!
Shame on BP shareholders!
Do you get my point?
Thursday, June 3, 2010
NOT the Man of the Day: BP's Tony Hayward
Tut, tut, British Petroleum, you are in trouble, hey?
The massive oil spill creating the tragic environmental disaster in the Gulf of Mexico is ultimately the responsibility of BP. It's their oil rig, leased as it might be from another company, that suffered an explosion in April and subsequent spill that cannot be contained. The U.S. President, government and U.S. regulatory authorities have all pointed the finger directly at BP. Their stock price is down by a third already and the cost of their insurance has reportedly sky-rocketed.
It has been a veritable public relations nightmare for BP.
And they bloody deserve it.
That's what you get for pumping out a dirty, tricky energy source in a difficult and dangerous location without the proper safety mechanisms and response in place. All thanks to having bought favours on Capitol Hill to ensure de facto self-regulation (read: lowers standards) just so that the corporation could make a few more bucks for its shareholders, investors and Board.
Yeah, they all do it - we know that, BP. Thing is, you got caught with your pants down.
And the man who must (and deserves to) take all the flack is BP CEO, Tony Hayward. That's why he has the title, the cache and the caboodles of money that he has.
And, jeepers, the BP Board must be ruing the day they made him CEO. The man has only added to the PR disaster that is the Deepwater Horizon oil spill for them.
Initially, Tony had the temerity to call the spill “relatively tiny”. He, on behalf of BP, even had the gall to state in the first two days that the oil spill would be negligible, even non-existent, beyond the initial spill into the sea from the explosion itself. How wrong and his lot were proven on that one.
On May 17th, already three weeks into the disaster, he still had the nerve to state to the satellite channel, Sky News, that the environmental cost of the spill would be “very, very modest.” Veteran marine biologist Prof. Rick Steiner vehemently reacted, stating that Hayward's statement was, “simply one of the most arrogant, ignorant, callous statements I have ever heard from any corporate CEO during a crisis such as this.”
Just yesterday the New York Daily News called him "the most hated - and the most clueless - man in America."
Ouch!
It gets better.
Hayward was also quoted by Reuters and many other news agencies as saying repeatedly, “I want my life back”. Indeed. As I'm sure do the 11 men who lost their lives with the explosion on the rig. It was a stupendously insensitive statement given these lives lost in the explosion, not to mention the ongoing environmental and socio-economic catastrophe of the spill. He later apologised for his words.
All of this an astounding lack of the most basic tenets of proper disaster-related communication, not to mention corporate governance, by a corporate CEO.
When a company's disaster is creating an environmental and socio-economic disaster of epic proportions, then it is fitting and fair that someone get fingered. It is not enough for us to finger this thing called 'BP'. After all, what the hell is BP but a juristic (legal) 'person', i.e. an entity that is neither tangible nor someone we can shout at or send to jail. BP is frankly made up, a legal and commercial construct.
A person is required to take the fall. That is why the law recognizes that directors are the 'embodiment' of a corporation. I know, it's another legal construct. But one that does have gravitas. And as the head honcho of all operations, the CEO must take ultimate responsibility for an operational gaffe of these gigantic proportions.
Enter Mr. Hayward.
And that is why it is only fitting and only fair that the person who most 'embodies' the fiasco that is BP should be fingered, held accountable, accused. And that person is Tony Hayward.
The massive oil spill creating the tragic environmental disaster in the Gulf of Mexico is ultimately the responsibility of BP. It's their oil rig, leased as it might be from another company, that suffered an explosion in April and subsequent spill that cannot be contained. The U.S. President, government and U.S. regulatory authorities have all pointed the finger directly at BP. Their stock price is down by a third already and the cost of their insurance has reportedly sky-rocketed.
It has been a veritable public relations nightmare for BP.
And they bloody deserve it.
That's what you get for pumping out a dirty, tricky energy source in a difficult and dangerous location without the proper safety mechanisms and response in place. All thanks to having bought favours on Capitol Hill to ensure de facto self-regulation (read: lowers standards) just so that the corporation could make a few more bucks for its shareholders, investors and Board.
Yeah, they all do it - we know that, BP. Thing is, you got caught with your pants down.
And the man who must (and deserves to) take all the flack is BP CEO, Tony Hayward. That's why he has the title, the cache and the caboodles of money that he has.
And, jeepers, the BP Board must be ruing the day they made him CEO. The man has only added to the PR disaster that is the Deepwater Horizon oil spill for them.
Initially, Tony had the temerity to call the spill “relatively tiny”. He, on behalf of BP, even had the gall to state in the first two days that the oil spill would be negligible, even non-existent, beyond the initial spill into the sea from the explosion itself. How wrong and his lot were proven on that one.
On May 17th, already three weeks into the disaster, he still had the nerve to state to the satellite channel, Sky News, that the environmental cost of the spill would be “very, very modest.” Veteran marine biologist Prof. Rick Steiner vehemently reacted, stating that Hayward's statement was, “simply one of the most arrogant, ignorant, callous statements I have ever heard from any corporate CEO during a crisis such as this.”
Just yesterday the New York Daily News called him "the most hated - and the most clueless - man in America."
Ouch!
It gets better.
Hayward was also quoted by Reuters and many other news agencies as saying repeatedly, “I want my life back”. Indeed. As I'm sure do the 11 men who lost their lives with the explosion on the rig. It was a stupendously insensitive statement given these lives lost in the explosion, not to mention the ongoing environmental and socio-economic catastrophe of the spill. He later apologised for his words.
All of this an astounding lack of the most basic tenets of proper disaster-related communication, not to mention corporate governance, by a corporate CEO.
When a company's disaster is creating an environmental and socio-economic disaster of epic proportions, then it is fitting and fair that someone get fingered. It is not enough for us to finger this thing called 'BP'. After all, what the hell is BP but a juristic (legal) 'person', i.e. an entity that is neither tangible nor someone we can shout at or send to jail. BP is frankly made up, a legal and commercial construct.
A person is required to take the fall. That is why the law recognizes that directors are the 'embodiment' of a corporation. I know, it's another legal construct. But one that does have gravitas. And as the head honcho of all operations, the CEO must take ultimate responsibility for an operational gaffe of these gigantic proportions.
Enter Mr. Hayward.
And that is why it is only fitting and only fair that the person who most 'embodies' the fiasco that is BP should be fingered, held accountable, accused. And that person is Tony Hayward.
Labels:
BP,
Gulf of Mexico oil spill,
Not the Man of the Day
RANT: BP & the Hubris of Oil
The explosion on the Deepwater Horizon oil rig in the Gulf of Mexico has resulted in the biggest environmental disaster in U.S. history. It is now time that I make my comments on this catastrophe - a catastrophe for the environment, and proof yet again of the hubris that is humanity's addiction to that most dirty energy, oil.
It is on this theme of 'hubris' that I today finished writing a comment on this disaster, at the request of an editor of a magazine for which I write an opinion article every two months. I doubt it will be published and, as such, I am taking the liberty of paraphrasing and, here and there, quoting from the said comment piece right here on the my blog:
The oil spill in the Gulf of Mexico is the epitome of that most lamentable human downfall: hubris. Hubris is defined as “excessive pride or self-confidence; arrogance”.
The massive oil spill in the Gulf of Mexico started from an oil well blow-out from the seabed in the Gulf's Macondo Prospect oil field, resulting in a catastrophic explosion on the BP (British Petroleum) oil rig, Deepwater Horizon on April 20th. The explosion killed 11 platform workers and eventually sank the rig on April 22nd.
The well-head of the BP oil rig was fitted with what is known as a 'blow-out preventer'. It has been stated that the platform “did have a dead man's switch designed to automatically cut the pipe and seal the well...but it was unknown whether the switch was activated.” According to the UK's Observer newspaper, “The rig's blow-out preventer, a fail-safe device fitted at source of the well, did not automatically cut off the oil flow as intended when the explosion occurred. Six attempts to do so have failed to date.” Hence the ongoing massive leaking of crude oil into the Gulf ever since.
The controversy over the actual spill rate escalated in the following days and weeks. And with good reason – the more the discharge of oil into the Gulf, the greater the environmental and socio-economic impacts thereof. The spill rate was of critical importance. Yet BP kept playing down the numbers. Estimates by research scientist, Timothy Crone, were that the spill was at least 50 000 barrels (7 900 000 litres) per day. Eugene Chaing, an astrophysicist, put it even higher: up to 100 000 barrels per day (16 000 000 litres)!
Even more galling is that BP has flat-out refused for any independent assessments to be made of the leak at the so-called 'safety valve', on the basis that they were doing everything necessary and possible themselves. However, let's face it, the main reason for this refusal by BP is based on wanting to jealously guard their proprietary rights over the oil field. Once again, private property rights triumph over any collective social and environmental rights that a society may have even in the face of a calamity. And the U.S. government acquiesces to that.
It's outrageous. It beggars belief. It's hubris.
One chilling account from the media was from the US television network, CBS. One of their reporters, Kelly Cobiella, had “tried to visit the beaches in the Gulf of Mexico to report on the disaster. She was met by BP contractors and American Coast Guard officers who threatened her with arrest if she did not leave.” Most astoundingly was the they further reported that, “The Coast Guard officials specified that they were acting under the authority of BP.” Under the authority of BP? Since when does a corporation have jurisdiction over public beaches and local communities being affected by an environmental disaster requiring federal (national) response and assistance?
The environmental impact of this spill is potentially devastating. And growing by the day. Oil, water, fish and other wildlife simply do not co-exist well. Thousands of tons of toxic hydrocarbons from the oil will wreak havoc on marine and coastal ecosystems. The Louisiana and Mississippi coasts are home to some of the most fragile and unique mangrove and wetland ecosystems in the world. Hundreds of different species of bird, marine mammal, fish and other species are at risk in this ecologically very sensitive and biodiverse area. The United States Environmental Protection Agency (EPA) is already calling it the worst environmental disaster in U.S. history.
BP has boldly stated that it will compensate all those affected by the spill and that, "We are taking full responsibility for the spill and we will clean it up and where people can present legitimate claims for damages we will honour them. We are going to be very, very aggressive in all of that."
How very big of them.
Time will tell, but do excuse me if I'm rather skeptical of those promises being 'honoured' by BP. My only fervent hope is that local communities take him up on his sentiment and are 'very, very aggressive' when suing the pants off BP in massive, ongoing class action lawsuits, something at which the Americans are the best in the world.
BP needs to be hit where it hurts hardest for any major corporation – in the pocket. To date over a 150 lawsuits have already been filed against BP due to the oil spill. Bless the American people and their hyper-litigious little souls!
By June 1st, BP itself reported that its efforts to contain the spill had cost $990-million. A proverbial drop in the ocean for a multi-billion dollar corporation. The Swiss bank UBS has estimated that the final cost to BP could be up to $12-billion. Again, chump change for such a huge corporation.
Perhaps more reassuringly is that stock analysts predict that BP has lost up to one-third of its stock value (about $67-billion) in less than two months since the catastrophe began and is now more at risk of a hostile takeover. Now that's more like it.
Talk about karma. May their poor luck continue.
Am I being 'anti-business'? Not at all. I am just being anti-gigantic-transnational-corporations-that-think-they-can-cut-corners-and-buy-out-politicians-in-order-to-make-huge-profits. Like here - at the expense of the environment and the socio-economic ramifications of the environmental catastrophe that occurs from drilling an essentially filthy energy source from the seabed. It is that type of gargantuan hubris (read: corporate greed) that I simply cannot abide.
The hubris of the Deepwater Horizon catastrophe is everywhere:
It's in the frustrating (in)actions and patronizing words of a huge corporation.
It's in the (in)actions to date of a U.S. government that allowed BP to basically fill in its own reports on offshore oil rig operations and now bays for blood when said poor regulation results in this catastrophe.
It's in the continued denial by many that peak oil, of which I am a firm believer, is hyperbole and nonsense. If nonsense, then why is it that oil drilling is becoming more and more expensive due to being forced to drill in increasingly difficult and technology-intense and risk-intense places? Because we're peaking in our ability to cost-effectively drill oil.
It gets even more scary. On June 2nd Greenpeace and other organizations started reporting on how the United States is seriously considering using a nuclear warhead to seal the BP oil spill. That's right – a nuclear warhead! This goes beyond hubris – it's sheer madness.
Ultimately, it's in our own collective hubris. We are all to blame for this oil spill. Each and every one of us that drive a car or catches a taxi or fly in an airplane are collectively liable for our continued and collective addiction to this dirty and dangerous energy called oil.
Yet again, events have conspired to show us that the extraction and use of oil is not sustainable. As a sustainability consultant, that has always been patently absurd to me. The economic 'payoff' of this dirty energy, once plentiful and now increasingly expensive to extract, does not justify the ultimate environmental and social costs thereof.
Our addiction to oil continues unabated. And a huge, messy slick in the Gulf of Mexico is testimony to the hubris of that.
Do you get my point?
It is on this theme of 'hubris' that I today finished writing a comment on this disaster, at the request of an editor of a magazine for which I write an opinion article every two months. I doubt it will be published and, as such, I am taking the liberty of paraphrasing and, here and there, quoting from the said comment piece right here on the my blog:
The oil spill in the Gulf of Mexico is the epitome of that most lamentable human downfall: hubris. Hubris is defined as “excessive pride or self-confidence; arrogance”.
The massive oil spill in the Gulf of Mexico started from an oil well blow-out from the seabed in the Gulf's Macondo Prospect oil field, resulting in a catastrophic explosion on the BP (British Petroleum) oil rig, Deepwater Horizon on April 20th. The explosion killed 11 platform workers and eventually sank the rig on April 22nd.
The well-head of the BP oil rig was fitted with what is known as a 'blow-out preventer'. It has been stated that the platform “did have a dead man's switch designed to automatically cut the pipe and seal the well...but it was unknown whether the switch was activated.” According to the UK's Observer newspaper, “The rig's blow-out preventer, a fail-safe device fitted at source of the well, did not automatically cut off the oil flow as intended when the explosion occurred. Six attempts to do so have failed to date.” Hence the ongoing massive leaking of crude oil into the Gulf ever since.
It should be noted that certain safety devices for offshore oil rigs are not required in the Gulf of Mexico, even though they are required for offshore rigs by countries like Brazil and Norway. These safety mechanisms had not been deemed 'necessary' by the United States regulators. That most dubious assessment had been made by the Minerals Management Service (MMS), a division of the United States Department of the Interior which oversees and regulates offshore oil drilling. The MMS has a lot to answer for.
Their decision was made in 2003, slap bang in the middle of the George W. Bush administration, well known for being literally in the pocket of the Texan oil and gas industry. It's no coincidence that an oft-made and wry statement by Washington commentators when Baby Bush took over in 2001 was that, “Houston had come to the White House”. Any wonder the decision by the MMS? You do the mathematics.
The controversy over the actual spill rate escalated in the following days and weeks. And with good reason – the more the discharge of oil into the Gulf, the greater the environmental and socio-economic impacts thereof. The spill rate was of critical importance. Yet BP kept playing down the numbers. Estimates by research scientist, Timothy Crone, were that the spill was at least 50 000 barrels (7 900 000 litres) per day. Eugene Chaing, an astrophysicist, put it even higher: up to 100 000 barrels per day (16 000 000 litres)!
Even more galling is that BP has flat-out refused for any independent assessments to be made of the leak at the so-called 'safety valve', on the basis that they were doing everything necessary and possible themselves. However, let's face it, the main reason for this refusal by BP is based on wanting to jealously guard their proprietary rights over the oil field. Once again, private property rights triumph over any collective social and environmental rights that a society may have even in the face of a calamity. And the U.S. government acquiesces to that.
It's outrageous. It beggars belief. It's hubris.
One chilling account from the media was from the US television network, CBS. One of their reporters, Kelly Cobiella, had “tried to visit the beaches in the Gulf of Mexico to report on the disaster. She was met by BP contractors and American Coast Guard officers who threatened her with arrest if she did not leave.” Most astoundingly was the they further reported that, “The Coast Guard officials specified that they were acting under the authority of BP.” Under the authority of BP? Since when does a corporation have jurisdiction over public beaches and local communities being affected by an environmental disaster requiring federal (national) response and assistance?
The environmental impact of this spill is potentially devastating. And growing by the day. Oil, water, fish and other wildlife simply do not co-exist well. Thousands of tons of toxic hydrocarbons from the oil will wreak havoc on marine and coastal ecosystems. The Louisiana and Mississippi coasts are home to some of the most fragile and unique mangrove and wetland ecosystems in the world. Hundreds of different species of bird, marine mammal, fish and other species are at risk in this ecologically very sensitive and biodiverse area. The United States Environmental Protection Agency (EPA) is already calling it the worst environmental disaster in U.S. history.
BP has boldly stated that it will compensate all those affected by the spill and that, "We are taking full responsibility for the spill and we will clean it up and where people can present legitimate claims for damages we will honour them. We are going to be very, very aggressive in all of that."
How very big of them.
Time will tell, but do excuse me if I'm rather skeptical of those promises being 'honoured' by BP. My only fervent hope is that local communities take him up on his sentiment and are 'very, very aggressive' when suing the pants off BP in massive, ongoing class action lawsuits, something at which the Americans are the best in the world.
BP needs to be hit where it hurts hardest for any major corporation – in the pocket. To date over a 150 lawsuits have already been filed against BP due to the oil spill. Bless the American people and their hyper-litigious little souls!
By June 1st, BP itself reported that its efforts to contain the spill had cost $990-million. A proverbial drop in the ocean for a multi-billion dollar corporation. The Swiss bank UBS has estimated that the final cost to BP could be up to $12-billion. Again, chump change for such a huge corporation.
Perhaps more reassuringly is that stock analysts predict that BP has lost up to one-third of its stock value (about $67-billion) in less than two months since the catastrophe began and is now more at risk of a hostile takeover. Now that's more like it.
Talk about karma. May their poor luck continue.
Am I being 'anti-business'? Not at all. I am just being anti-gigantic-transnational-corporations-that-think-they-can-cut-corners-and-buy-out-politicians-in-order-to-make-huge-profits. Like here - at the expense of the environment and the socio-economic ramifications of the environmental catastrophe that occurs from drilling an essentially filthy energy source from the seabed. It is that type of gargantuan hubris (read: corporate greed) that I simply cannot abide.
The hubris of the Deepwater Horizon catastrophe is everywhere:
It's in the frustrating (in)actions and patronizing words of a huge corporation.
It's in the (in)actions to date of a U.S. government that allowed BP to basically fill in its own reports on offshore oil rig operations and now bays for blood when said poor regulation results in this catastrophe.
It's in the continued denial by many that peak oil, of which I am a firm believer, is hyperbole and nonsense. If nonsense, then why is it that oil drilling is becoming more and more expensive due to being forced to drill in increasingly difficult and technology-intense and risk-intense places? Because we're peaking in our ability to cost-effectively drill oil.
It gets even more scary. On June 2nd Greenpeace and other organizations started reporting on how the United States is seriously considering using a nuclear warhead to seal the BP oil spill. That's right – a nuclear warhead! This goes beyond hubris – it's sheer madness.
Ultimately, it's in our own collective hubris. We are all to blame for this oil spill. Each and every one of us that drive a car or catches a taxi or fly in an airplane are collectively liable for our continued and collective addiction to this dirty and dangerous energy called oil.
Yet again, events have conspired to show us that the extraction and use of oil is not sustainable. As a sustainability consultant, that has always been patently absurd to me. The economic 'payoff' of this dirty energy, once plentiful and now increasingly expensive to extract, does not justify the ultimate environmental and social costs thereof.
Our addiction to oil continues unabated. And a huge, messy slick in the Gulf of Mexico is testimony to the hubris of that.
Do you get my point?
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