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Ear to the Ground

Clash of the Oil Titans

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Posted on May 11, 2010
driller
AP / Gerald Herbert

The logos of Transocean and BP are seen on the derrick of the Development Driller III, which is drilling a relief well at the site of the Deepwater Horizon oil spill in the Gulf of Mexico.

In the messy wake of the BP Gulf of Mexico disaster, three giants of the oil industry—the aforementioned British Petroleum, perennial favorite Halliburton and Transocean—were butting heads and looking to stick each other with the bulk of the blame for the spill as they faced the U.S. Senate Committee on Energy and Natural Resources on Tuesday.  —KA

The Guardian:


With at least 4m gallons of oil now fouling the Gulf, the executives of BP America, which owned the well, Transocean, which owned the sunken Deepwater Horizon rig, and Halliburton, which cemented the well, were involved in a desperate attempt to avoid taking direct blame for the 20 April incident.

As the Energy and Natural Resources committee hearing got underway, Senate staffers joked it could be subtitled Scenes from an Execution, with a grilling due from the senators. But some of the worst damage may well have been done by executives themselves, as the three companies all tried to shift the responsibility.

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By TheBrix57, May 11, 2010 at 9:23 pm Link to this comment

It is rather amazing that in recent weeks that the U.S. elected leaders have brought out several of their bosses to explain why they are doing what. These long entrenched political “leaders” are only showing to the American people that their votes are no longer needed, as long as they have these titans of industry behind them.

We had the show of Goldman Sachs and now the show of BP, Transocean and the perennial favorite, Halliburton. While they might not have made it to prime time network viewing, they certainly boosted the sound bites for the media that they own.

BP, making over $1.6 million dollars an hour, every hour, every day, has already said that they will pay for the costs related to this oil disaster. The big question is: Will they? Most likely, they will not. BP will tie it up in court for the next 20 years, leaving Americans with their lives ruined, the coastlines of the gulf covered in oil then on to the next oil well.

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By mike112769, May 11, 2010 at 12:55 pm Link to this comment

I feel comforted knowing that Halliburton is now opening up natural gas mines in the mountains where I live.

That’s sarcasm by the way…just so nobody jumps me for supporting Halliburton. smile

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By gerard, May 11, 2010 at 12:43 pm Link to this comment

For the betterment of the earth, and to help get the country off dependency on oil and onto greener alternatives, may be we should hope these oil companies continue to cut each others’ throats. 
  A quick mutual settlement would only mean a papering over of disaster, to be followed by more drilling, more pollution, more cheating, more oil wars in the future.
  The true face of raw, socially irresponsible capitalism is indeed ugly and dangerous.

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