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Oil Spill Video

  1. MikeNV profile image75
    MikeNVposted 6 years ago


    The video pretty much speaks for itself.

    "BP is already committed to but not ultimately restricted to a $20 billion fund for clean-up and other costs stemming from the largest offshore oil spill in U.S. history. Its costs to date have topped $3 billion and are rising steeply."

    BP's Profit 1st Quarter 2010

    "Net cash provided by operating activities for the first quarter was $7.7 billion, compared with $5.6 billion a year ago."

    Source:  http://www.bp.com/extendedgenericarticl … Id=7061409

    Think about that.  $3 Billion is only 6 weeks profit!  And the entire $20 Billion Fund is LESS than what they made in profit last year!

    You can and should draw your own conclusions.  To me this entire spill is not about anything more than BP continuing to try and make more profit... capture the oil to resell and tbey could care less about the Damage to the Entire Gulf Coast for decades into the future.  Every single state that touches the Gulf now has oil washing up on it's shores.

    Remember this when you vote.  Odumbo has done nothing but let BP do whatever they want to protect their profits.

    1. Strophios profile image60
      Strophiosposted 6 years ago in reply to this

      Are you surprised by this? It's what corporations do, and it's why so many dislike them. It's also why government regulation is a good thing.

      1. MikeNV profile image75
        MikeNVposted 6 years ago in reply to this

        I'm very aware of their motives and intentions.  Not surprising to me at all.

        And they ARE REGULATED.  Care to explain how those regulations play into this mess?

        And I'm incorporated.  Corporations are not Evil.  What is Evil is the people who are pulling the Strings in the Federal Government and BP.

        A Corporation is nothing more than a business entity.  While there are some asset protection issues most Corporations exist solely to comply with Tax issues.

        What people don't understand about Corporations is they are not designed to pay taxes.  They are designed to distribute earnings to shareholders.  If corporations sit on earnings they end up being DOUBLE TAXED most of the time.

        So the Corporation is not to blame.. it's not a person, it's merely an business entity.

        1. Strophios profile image60
          Strophiosposted 6 years ago in reply to this

          Very poorly. This is a prime example of government dropping the ball, I'm well aware of that.