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BP Oil Spill

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Ten Things You Need (But Don't Want) To Know About the BP Oil Spill

If one reads the above, it is becoming apparent that America and its politicians have started resembling India and its politicians. Shame on Obama that he is blaming MMS, the regulatory authority. Isn't MMS part of his administration?

Corporate greed, the need for increased market share and profits is taking over every aspect of life. As long as this materialistic attitude prevails, life is tough for the common man. The rich and the powerful are not going to be affected anyway so who cares?
BP files for bankruptcy

this is wishful thinking on my part focus. so do not look for this anywhere else.

as i was driving this morning, the news was about BP shares falling further down, and this could make BP a ripe target for takeover.

well let us say that a company with no activities in the u.s takes over BP and spins off its american operations..

well, this will be a haircut for the u.s. as the u.s. spinoff will not have any money, not only to stop the oil leak, but to pay the billions of compensations already in the works, not to say the criminal charges being filed by the u.s. government.

the new company will still have ownership of the bountiful BP fields off Malaysia and Nigeria, and will start making money from day one!

any takers here to spawn a new oil company? ;)

After the 9/11 attacks the right wing conservatives tried to pin blame on Clinton for not dealing with the Al Qaeda threat forcefully. But progressive left did not accept this. The hypocrisy of the right was out in the open when Condi Rice had to concede they were specifically warned about Bin Laden being determined to attack the U.S. Yet, Bush administration did nothing for 8 months when the attack came.

Now contrast that with what happened with oil drilling in the gulf. As far back as September 2008 it was widely reported that Minerals Management Service (MMS) of the Interior Department was a pit of corruption. See this article from Washington Post dated September 11, 2008. Here is just one sentence from that article.
In the report released yesterday, investigators said they "discovered a culture of substance abuse and promiscuity" in which employees accepted gratuities "with prodigious frequency."
So, it is clear when Obama came into office he was fully aware of the corrupt nexus that existed between MMS and the oil industry. What did he do? Nothing. He let MMS corruption go on for more than 16 months since he took office.

The license for drilling the leaking Deep Water Horizon well was issued by MMS under Obama's watch. Obama continued to mouth the truisms of the oil industry that drilling is perfectly safe, nothing to worry about. He even went so far as to gladly embrace the "drill baby drill" mantra of sister Sarah and opened up offshore oil drilling.

All this while he did nothing to revamp MMS. They continued to be the corrupt pit they were 3 years ago. See this report from NY Times of March 25, 2010. Here is the lead off sentence from that article.
Federal officials who oversaw drilling in the Gulf of Mexico accepted gifts from oil companies, viewed pornography at work and even considered themselves part of industry, the Interior Department inspector general says in a new report.
If Bush can't blame 9/11 on Clinton, then Obama can't blame Bush for this mess. Allowing the progressive left to give a pass to Obama is downright hypocritical.

In a related note, the people BP has hired for the clean up work were made to sign a contract that includes a gag clause preventing them from speaking to the media.

Even a honest person reaching the top most are forced to turn a blind eye to the happenings he inherited.

Rajeev Gandhi inherited Bofors Scandal from his own mother Indira Gandhi. Before entering politics he was just a co-pilot in Indian Airlines.But circumstances along with the coterie Nehru family made him Prime Minister of India. He was forced to cover up Bofors Scandal and lost his image once for all.

Manmohan Singh is suppose to be a honest person. He was personally driving a Maruthi 800 car after retiring as Governor of Reserve Bank of India. Now he is heading a coalition government where most of his ministers are corrupt. In the ongoing spectrum scandal controversy, he is forced to defend a controversial DMK Minister Raja where the loss to the exchequer is of the order of Rs.1,90,000 crores.

The Hindu : News : Recover lost revenue from 2G spectrum allocation: CPI(M)

Even a honest person is forced to dilute his principles once he reaches the highest post.

All the best
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