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BP Oil Spill

The British Petroleum oil spill letting out 60,000 barrels which translates to 2, 50.000 US gallons of crude into the sea each day for the past 20 days is undoubtedly one of the largest oil spills in and biggest man made disasters in history. Its impact is already being felt on aquatic life and the environment across the Gulf of Mexico and USA’s coastal states. bp the company in question has agreed to do its best in cleaning up the mess and plugging further spillage and is also willing to bear all losses caused and legitimate expenses made by different agencies to arrest the spill.

While it would be premature to make a value judgement on what caused the spill or if bp the company in question is doing enough to contain the spill or by way of cleaning up operations, what is amusing is the cold war like situation that the oil spill has triggered between NATO’s strongest allies UK and USA. President Obama has made his displeasure with the company very clear, as a British company a good part of his displeasure seems directed against UK. Prime Minister Cameroon has expressed his deep feeling for the victims and the environmental damage caused, he has however not come down heavily against bp as he is aware that it enjoys great respect and stature back home. British retirees depend on bp dividends as pension funds are heavily invested in the oil company. Given the bad state of the British economy he is aware that any drastic step on bp could have a backlash on the nation’s already fickle economy.

While Obama and Cameroon may have their political and financial compulsions for taking their respective stand on the spill issue. What is lost amidst all the rhetoric is the simple fact that the initials bp which stand for British Petroleum do not make bp company an enterprise wholly owned by Great Britain. Like many other large oil companies and conglomerates bp is a far reaching international corporation with extensive holdings in the US including a Texas refinery and a share of the Alaska pipeline.

It would only be sensible and in every body’s interest to contain the rhetoric as much as the spill, confine the issue to bp and not drag the UK into it.

Source: http://www.newscolony.com



Source by pushya

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