Talking Up Big Oil...

[GRG55]

Hoocudaguestit?

The good news is that by the time the litigators are finished with BP it will not qualify as a Large Company...

Obama Aide: Offshore Drilling May Be Best for Large Companies

WASHINGTON (Dow Jones Newswires), July 2, 2010

The White House's top energy and climate adviser said companies drilling for oil offshore should be able to pay for any damages caused by spills, even if removing a cap on damage claims means small companies can't operate offshore.

"Maybe this is a sector where you really need large companies who can bring to bear the expertise and who have the wherewithal to cover the expense if something goes wrong," Carol Browner, special adviser to U.S. President Barack Obama on energy and climate change, said...

...Still, Browner said BP is "a healthy company" with "a lot of assets." She added that "we don't want to see BP go out of business because we've got lots of claims that need to be paid."...

How's that for a corporate "Mission Statement":

"Our Mission is to maximize shareholder value by avoiding going out of business until we we pay lots of claims, while respecting the needs of our employees, the communities in which we operate, the environment, our bankers and the Wall Street analysts that cover our stock."

[metalman]

Re: Talking Up Big Oil...

[/INDENT][/INDENT]How's that for a corporate "Mission Statement":

"Our Mission is to maximize shareholder value by avoiding going out of business until we we pay lots of claims, while respecting the needs of our employees, the communities in which we operate, the environment, our bankers and the Wall Street analysts that cover our stock."

don't ferget da consumer...

[lakedaemonian]

Re: Talking Up Big Oil...

I'm left asking the floowing question:

If ALL energy companies will eventually get fleeced in the US(and elsewhere) of their energy profits, regardless of whether it's to pay for directly(BP spill) or indirectly associated problems(government broke ass), does it really make a damn bit of difference other than that those energy companies responsible for directly associated problems(again BP) simply move closer to the front of the government revenue slaughterhouse queue?

To me it's just further strong evidence of the critical need for DIRECT investment options in actual "stuff" rather than the "stuff" industry.

[Roughneck]

Re: Talking Up Big Oil...

When the top adviser on energy policy is an environmentalist you know it's gonna be bad. The minds set of these people is just baffling. PS Most of the smaller companies have left or are in the process of leaving the gulf already. They can read the writing on the wall. http://www.reuters.com/article/idUKN...pe=companyNews

This is good news for people like Browner. They want to kill the oil industry. They want higher oil prices to force us to their utopian world of alt energy. This will wind up being a very use full disaster.