BP's Incentive: To <em>Not</em> Capture All the Oil
Thursday, July 8, 2010
Supertankers have the capability of sucking up 21 million gallons a day. Compare that to BP‘s cap system that, in 10 weeks, has been able to get only 28 million gallons total. The reason BP hasn't brought in supertankers is money.
TonyHayward's on a whirlwind tour around China, Libya, to raise cash for BP. He needs BP to look more attractive, with more cash on its books, & putting more supertankers in would cost BP that cash. http://www
Moody‘s & Fitch‘s dropped BP's bond value to just above junk value, which means that BP's cutting back. Rather than bringing any of these supertankers that were talked about weeks ago, BP's putting on a public relations show, a scam, 1,000 people on the beach with shovels & bags to make it look like they're doing something. Then BP dumps fresh new sand on top of tarballed beaches, to cover up the tarballs when government dignitaries like Joe Biden show up for photo ops.
What's really happening is that BP's put dispersants on the oil to sink it to the bottom, so that the oil doesn‘t come up for another year. BP plans to amortize the cleanup costs over 10-15 years (rather than 18 months). BP wants to spread it out. BP's going to let this mess pool in the bottom of the Gulf for years, because it‘s good economics for BP.
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Read the Article at HuffingtonPost
