Thursday, November 29, 2012

BP is $6 billion from its divestiture goal of $38 billion to pay for damages resulting from the disastrous Deepwater Horizon.

The responsibility of the USA government is to maintain the integrity of its sovereign borders, waters and economic interest of its people. The problem BP created for itself when it proceeded with a reckless methodology to increase profits is not the problem of the people of the USA. The leases stand and it is up to BP to raise the necessary funds to protect USA assets in recovery from this complete idiocy.

Eleven people died. In the latest explosion, which was not BP, two people died and one is now missing and the search efforts have stopped. This level of negligence of human life has a very long history in this industry. The most recent deaths were due to a welding rig meeting its activities with natural gas. There are indications it was avoidable. There is little to no conscience within the petroleum industry. It is a profit driven industry without regard to life or environment.

By Steven MufsonPublished: September 10

...The latest sale leaves BP close to its $38 billion goal (click here) for divestments to settle claims linked to the spill, part of a program that will leave the London-based oil giant more streamlined but still in possession of its best prospects for growth and most profitable assets. BP chief executive Bob Dudley said in a statement that the sales were “consistent with our strategy of playing to our strengths.”

BP sold interests in three fields connected to the Marlin platform the company installed in 1999 and used as a production hub southeast of New Orleans. It also sold its interests in four other fields and some exploration prospects associated with the fields. Together the fields produced 59,500 barrels a day of oil and natural gas liquids....