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9/3/2010
Rushing to punish BP for past transgressions
Slice off your nose to spite your face?
BP is warning Congress that if lawmakers pass legislation that bars the company from getting new offshore drilling permits, it may not have the money to pay for all the damages caused by its oil spill in the Gulf of Mexico.
The company says a ban would also imperil the ambitious Gulf Coast restoration efforts that officials want the company to voluntarily support.
…. BP is particularly concerned about a drilling overhaul bill passed by the House on July 30. The bill includes an amendment that would bar any company from receiving permits to drill on the Outer Continental Shelf if more than 10 fatalities had occurred at its offshore or onshore facilities. It would also bar permits if the company had been penalized with fines of $10 million or more under the Clean Air or Clean Water Acts within a seven-year period.
While BP is not mentioned by name in the legislation, it is the only company that currently meets that description.
The provision was written by Representative George Miller, Democrat of California, who is a strong environmental advocate and a close ally of Nancy Pelosi, the House speaker.
It was specifically designed to punish BP for its past transgressions, including the Deepwater Horizon explosion, and deny the company access to American offshore oil and natural gas.
“The risk of having a dangerous company like BP develop new resources in the gulf is too great,” said Daniel Weiss, Mr. Miller’s chief of staff. “Year after year after year, no matter how many incidents they’re involved in, no matter how many fines they’ve had to pay, they never changed their behavior. BP has no one to blame but themselves.”
Jo Egelhoff, FoxPolitics.net
COMMENTS
My first thought was that it is kinda unfair to punish for future transgressions.
BP has had a long history of bad behavior.
>>>Year after year after year, no matter how many incidents they’re involved in, no matter how many fines they’ve had to pay, they never changed their behavior. BP has no one to blame but themselves.”<<<
What would you do Jo?
Dean Weichmann (Fri Sep 03 04:56:39 2010)
I certainly wouldn't kill the golden goose.
Jo (Fri Sep 03 05:02:10 2010)
BP is not a golden goose.
Dean Weichmann (Fri Sep 03 05:32:50 2010)
Ok Dean, than who else will produce, how else will that $20B (and probably more) magically appear?
Jo (Fri Sep 03 06:36:36 2010)
Jo,instead of the golden goose think of BP as the bull in the china shop, should we keep him there?
Dean Weichmann (Fri Sep 03 07:19:36 2010)
Well Dean, you decide. Call it whatever you like. You want your $20B or don't you?
Jo (Fri Sep 03 08:12:54 2010)
We have both engaged in hyperbole. BP is neither goose or bull but they need to be more responsible and careful. Maybe they will with new mangagement. I doubt that the legislation will get anywhere but if it does someone else will do the job.
http://seekingalpha.com/article/209748-where-is-bp-headed-70-or-0
Dean Weichmann (Fri Sep 03 09:37:55 2010)
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