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The DOJ yesterday sharpened its rhetoric against BP (BP) and Transocean (RIG) over the Deepwater...

The DOJ yesterday sharpened its rhetoric against BP (BP) and Transocean (RIG) over the Deepwater Horizon oil spill, accusing the companies of "gross negligence" in deciphering a key pressure test. Such a finding in an upcoming trial, which is set for January, could almost quadruple the civil damages BP has to pay to $21B. Shares -3.7% in London.
Comments (14)
  • User 353732
    , contributor
    Comments (4913) | Send Message
     
    For a decade, it seems, BP pursued an overt strategy of "Beyond Profits" by pandering to the fads and fashions of Big Government and Big Media and displaying contempt for its legacy and the practices of Big Oil.

     

    The consequences of this became apparent when it faced a crisis of operating and executive competence. It found that pandering and posturing were no protection from Big Government and Big Media or substitutes for good business and operating practice.
    5 Sep 2012, 05:29 AM Reply Like
  • neilc38@msn.com
    , contributor
    Comments (69) | Send Message
     
    Talking about "good operating practice", take a historic look at Obama's daily agenda. Most meetings were scheduled after 11:00 AM and rarely with cabinet members. His agenda looks like an inferior slice of Swiss Cheese: So much for "executive competence".
    5 Sep 2012, 09:03 AM Reply Like
  • gcmagone
    , contributor
    Comments (915) | Send Message
     
    Big oil is hated when there are accidents and loved when they spend billions to deliver energy to us.
    5 Sep 2012, 07:11 AM Reply Like
  • maudie
    , contributor
    Comments (478) | Send Message
     
    Not by environmentalists and the global warming greenies.
    5 Sep 2012, 09:23 AM Reply Like
  • Jdeboer87
    , contributor
    Comments (243) | Send Message
     
    Hopefully they settle this soon. We need to get this uncertainty behind us so the stock price can start to move.
    5 Sep 2012, 07:18 AM Reply Like
  • SSGAJ
    , contributor
    Comments (160) | Send Message
     
    First of all, yes, I am a stockholder of BP. However the bureaucrats in the US make me sick. If it was a US based company they would look the other way. Case in point with Exxon. Now everyone has their hand out and the politicians are making themselves look like the savior. Don't they understand the ramifications of sinking a company the size of BP. What it means to the pensioners of Britain. It is just another case of circumventing money into the pockets of those who don't deserve it and hurting others to the point where it is insane.
    5 Sep 2012, 07:19 AM Reply Like
  • maudie
    , contributor
    Comments (478) | Send Message
     
    SSGAJ: Obama wasn't president when Exxon spilled. It's his anti-justice dept. pushing it's anti-big oil, green marxist agenda
    5 Sep 2012, 09:45 AM Reply Like
  • JamesMerkley
    , contributor
    Comments (3) | Send Message
     
    and if anyone challenges maudie's comment, take a look at gas pump prices pre-obama. Now look where gas pump prices are...case closed.
    5 Sep 2012, 01:05 PM Reply Like
  • morrism1
    , contributor
    Comments (17) | Send Message
     
    Do you have any facts to support this position or are you just another "save the world" socialist that expects others to pay your way through life?
    5 Sep 2012, 07:58 AM Reply Like
  • neilc38@msn.com
    , contributor
    Comments (69) | Send Message
     
    The White House should be indited for gross negligence because they refuse the immediate expert assistance from both the Netherlands and Great Britain. They delayed acceptance for just over one month because they preferred catering to the unions who wanted to do the job.

     

    Bill Clinton is on record of chastising the Obama administration for this delay.
    5 Sep 2012, 08:59 AM Reply Like
  • SSGAJ
    , contributor
    Comments (160) | Send Message
     
    Doesn't any body get it. Our 2 party system just does not work. Too much self interest and corruption.
    If they can't address something as simple as "pork barrel spending' and "Earmark spending", than there is no hope for them.

     

    Throw in our judicial system's pitfalls and we sure have a mess.

     

    Yes, America is the best place to live, but that does not give our politicians a free reigns to muck it up whenever it suits them ...$$$$$

     

    We need to hold them accountable and throw their asses in jail without any reservations when it is deserved. Put them in with the general populace, instead of make shift version of prison. Do you hear that Mr. Corsine? He has really taking the low road, hasn't he. He is not alone.
    5 Sep 2012, 09:33 AM Reply Like
  • A Newell
    , contributor
    Comments (493) | Send Message
     
    I do believe were at the tipping point. It seems like the requirement for politicians to compromise has been eliminated and now we just are it for the special interests. Who is there to protect the historical American standards? So sad.
    10 Sep 2012, 11:44 AM Reply Like
  • Tack
    , contributor
    Comments (13576) | Send Message
     
    Simply more money grubbing by our ever-thirsty, anti-business Administration. Hardly a surprise.
    5 Sep 2012, 09:57 AM Reply Like
  • Manosij Majumdar
    , contributor
    Comments (76) | Send Message
     
    BP’s negligence caused billions in damage to local economies, especially tourism and fisheries. The administration is right to hold them responsible for this mess.

     

    Company executives are not absolved of the duty to behave responsibly simply because they are acting on behalf of shareholders. Would the people who are screaming socialism here do the same if this were a company found using lead paint on children’s toys?

     

    Strict governmental regulation hasn’t kept the Chinese, Singaporean or Emirati economies from growing rapidly, and it will not damage the American economy’s ability to deliver either.
    5 Sep 2012, 11:24 AM Reply Like
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