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Re: Gulf Oil Spill 'Collateral Damage'

Tue May 18, 2010 8:09 pm

Sorry - I can't connect the dots the way the authors suggest.

Investors buy stock to make money. Companies exist to make money. It's in a company's best interest to move to where conditions are best for them. Some companies pay dividends - it's part of their investing plan, in their corporate structure, etc. They filed for stock buy-back and the dividend back in Feb.

They were allowed to be in the Gulf because 'we' let them. They didn't have to use better BOPs because 'we' let them. 'We' set the environmental rules. Sure - the industry lobbies hard to get the best deals for them - that's their job and their part of the 'game'. It would be nice if our Senators and Reps were actually looking out for us - but it's not clear that's the case.

As far as I can tell, the 'game' of oil in the US is like a basketball game where the all stars are on one team and some tiny high school team is standing in for the government. Or is it that the all stars are on offense and the league gave the government team a party with hot and cold running escorts and fifths of Jack before they took the field? Dunno which is the best analogy.

Bottom line - in this chess game, we don't win by whining that the opponent is using his pieces 'correctly'*. And we also don't win by not paying attention to the game.

(* Realize that 'correctly' is relative...airplanes aren't supposed to crash when operated correctly, and rigs aren't supposed to sink...but they do.)

Last edited by AndyH on Tue May 18, 2010 10:44 pm, edited 1 time in total.

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Re: Gulf Oil Spill 'Collateral Damage'

Tue May 18, 2010 10:42 pm

mitch672 wrote:There can only be 1 correct response to this news from the US Government:

retract ANY and ALL offshore drilling leases granted to transocean, now and forever,
they should be BANNED from ever drilling off the coast of the United States EVER again.


This is unconcienable behaviour.

I'm sure there is plenty of blame to go around, but based on the '60 Minutes' report it appears that TransOcean may have been trying to slow things down and do them right, while BP kept overriding them and pushing forward.

I say "may have been". I don't think anyone knows yet how much blame lies in which corner. Between BP, TransOcean, Halliburton, and the government's own MMS there are four corners, and all of them look like they could use some cleaning.
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Re: Gulf Oil Spill 'Collateral Damage'

Tue May 18, 2010 11:15 pm

Doesn't matter in the end.

What matters is that deep ocean drilling has too high a risk. When things go wrong, there is no quick fix. Until that is solved - no new drilling.
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