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Gulf Oil Spill 2010

Re: Gulf Oil Spill 2010

ScoobyDoo said:
That almost sounds like a BP apology. There is no excuse for the magnitude of this spill. None. Spills happen yes, but **** ups this bad should not.
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From what I can tell BP broke SOP in this case, its their fault this happened.
Find out what happened with Schlumberger on the rig and its easy to see.

Still won't be the last time some company takes a chance to maximize profit
 
Re: Gulf Oil Spill 2010

Criminal prosecution of the company and individual executives is the only way to go. Until people start going to jail, they're never going to take this seriously. Same thing needed to happen in the financial industry. Once it was the people causing the fraud getting hauled off in handcuffs in front of the cameras, cooking the books suddenly became a lot less fashionable. Those lessons need to be applied here.
 
Re: Gulf Oil Spill 2010

Rover said:
Criminal prosecution of the company and individual executives is the only way to go. Until people start going to jail, they're never going to take this seriously. Same thing needed to happen in the financial industry. Once it was the people causing the fraud getting hauled off in handcuffs in front of the cameras, cooking the books suddenly became a lot less fashionable. Those lessons need to be applied here.
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Would this be country club prison or Federal pound-me-in-the-arse prison? Because, you know, which one do YOU think a bunch of d-bag executives are going to?
 
Re: Gulf Oil Spill 2010

walrus said:
From what I can tell BP broke SOP in this case, its their fault this happened.
Find out what happened with Schlumberger on the rig and its easy to see.

Still won't be the last time some company takes a chance to maximize profit
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Which is why the cap on damages should be raised. Safety and environmental concerns have to figure in the expected value, or the company is duty-bound to ignore them to maximize shareholder value.
 
Re: Gulf Oil Spill 2010

Kepler said:
Which is why the cap on damages should be raised. Safety and environmental concerns have to figure in the expected value, or the company is duty-bound to ignore them to maximize shareholder value.
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Not only should they have to pay for the cleanup and whatever restitution it takes to make the folks who use the water whole, they should be fined into the stone age. But money changes everything and their will be someone willing to take a chance to make more money. You see it all the time and you will continue to see it
 
Re: Gulf Oil Spill 2010

BP's stock price has fallen 40% since the accident. When you figure in extra punitive damages (I would imagine than cleanup costs are already projected into the stock price fall by now), that very well may be the end of BP as we know it. I could see the stock price falling further and BP snapped up by a competitor at bargain basement price....
 
Re: Gulf Oil Spill 2010

walrus said:
Not only should they have to pay for the cleanup and whatever restitution it takes to make the folks who use the water whole, they should be fined into the stone age. But money changes everything and their will be someone willing to take a chance to make more money. You see it all the time and you will continue to see it
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If the damage and distress are factored in, then I want people to still take the chance to make money -- that's a source of prosperity. I don't want the company to go down -- a company is just a machine used to create jobs for employees, profits for shareholders, and insane salaries and bonuses for management. The problem is when the pursuit of wealth becomes such a sacred cow that calls for responsibility are hooted down (led by a few well-paid shills representing the usual ideological pressure groups).

It's just like anything else: you broke it, you bought it. The high level managers should personally pay the costs of negligence, the same way you would if you sprayed oil all over your neighbors' yards. Take their personal assets, throw them in pound-your-arse prison, promote the next group to the board and management, and if that group can run the company right and make a fortune, god bless them.
 
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Re: Gulf Oil Spill 2010

blockski said:
Did you know they have conjugal visits there? We should be so lucky!
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Best thing to do is find the biggest guy there and try to kick his ***. That way you earn respect.


Seriously though GLM, while I prefer that they get sent to the later, I don't think the Enron people are enjoying their stay with the federaldis right now regardless of the exact living conditions. While I don't necessarily think they deserve solitary confinement, I also think several years of imprisonment ought to get the point across.
 
Re: Gulf Oil Spill 2010

For a while I was hoping to find the bottom of BP's stock plunge and dump a whole bunch of money on them when they were down, thinking that a company like that would eventually gain back that value. Now, the way this has drawn on and as bad as it looks for BP, I wouldn't be surprised to see the company fade away, bought out or just fold. I don't think I'll be buying any of their stock anymore.
 
Re: Gulf Oil Spill 2010

Rover said:
Best thing to do is find the biggest guy there and try to kick his ***. That way you earn respect.


Seriously though GLM, while I prefer that they get sent to the later, I don't think the Enron people are enjoying their stay with the federaldis right now regardless of the exact living conditions. While I don't necessarily think they deserve solitary confinement, I also think several years of imprisonment ought to get the point across.
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While imprisonment is the right move, it's still not harsh enough if you get what I'm saying. These guys are corporate murderers so why not send them up the river to live with real murderers? Seems wonderfully fitting to me.
 
Re: Gulf Oil Spill 2010

GreatLakerMohawk said:
While imprisonment is the right move, it's still not harsh enough if you get what I'm saying. These guys are corporate murderers so why not send them up the river to live with real murderers? Seems wonderfully fitting to me.
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Because if you steal from one guy you're a thief but if you steal from one million you're an entrepreneur.

Some good news.
 
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Re: Gulf Oil Spill 2010

Puck Swami said:
BP's stock price has fallen 40% since the accident. When you figure in extra punitive damages (I would imagine than cleanup costs are already projected into the stock price fall by now), that very well may be the end of BP as we know it. I could see the stock price falling further and BP snapped up by a competitor at bargain basement price....
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It would be for the best. BP's brand isn't going to be worth very much at the end of this. Not in the U.S., at least, and we're the #1 market...
 
Re: Gulf Oil Spill 2010

Kepler said:
Some good news.
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They sheared it, I don't see how they get a good seal on a sheared pipe. For one thing the pipe is no longer round, its oval at best and its certainly not cut straight like it might have been with a saw.
 
Re: Gulf Oil Spill 2010

walrus said:
Still won't be the last time some company takes a chance to maximize profit
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Was it worth it? I remember BP being pretty profitable. I hope the ******** who decided on these shortcuts gets buried in the desert up to his neck, has honey poured on him, and unleash the fire ants.
 
Re: Gulf Oil Spill 2010

amherstblackbear said:
It would be for the best. BP's brand isn't going to be worth very much at the end of this. Not in the U.S., at least, and we're the #1 market...
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Remember how that old company Exxon went bankrupt after the Valdez?

Interesting comparison of consumption by country. Latest data is 2 years out. I had no idea the EU was ahead of China. That will be changing soon; 2015 by this estimate.
 
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