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.
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.
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.
by Don W 8 years ago
Would a free market have prevented this from happening?I'm guessing the libertarian argument would be that the failings of state regulation was a contributing factor. Those failings stemming from the fact that the regulators were in bed (figuratively and literally) with those regulated. Whereas...
by Arby Bourne 6 years ago
The repercussions of BP's nasty oil spill 2 years ago in the Gulf of Mexico are just beginning to be felt by the people and other life in and around the Gulf. Dolphins are dying, shrimp and crab populations have seen sudden and rapid decline, fish are exhibiting genetic defects, and scientist have...
by tobey100 8 years ago
The Gulf oil spill is bad. For that matter any oil spill is bad. I am not a rabid environmentalist but I do believe we need to protect the wildlife we have left as well as our beaches and wetlands. To a point. Let's not get carried away. Chris Matthews actually called...
by MikeNV 8 years ago
People blame BP because they run the operation... but Haliburton actually cased the rupture.Why no anger towards Haliburton? Gee... I wonder if it has anything to do with all the Haliburton Employees who move in and out of Government...
by Victoria Dubois 8 years ago
We humans do not own this Earth, but we sure act as if we do! We were put here to share & co-exist with all of the beautiful creatures, not destroy their environment to suit our needs. After all, aren't we the one's with the brains & reasoning power?
by SparklingJewel 8 years ago
World Affairs Brief, June 18, 2010 Commentary and Insights on a Troubled World.Copyright Joel Skousen. Partial quotations with attribution permitted. Cite source as Joel Skousen's World Affairs Brief ( http://www.worldaffairsbrief.com ) BP GULF DISASTER--EXTINCTION EVENT OR MEGA-SPILL?Getting to...
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