Monday, 7 June 2010

It makes me sick!

The palm goes to Tony Hayward - the most hated corporate figure in the US and CEO of one of the most profitable companies in the world: British Petroleum. It should go to Carl-Henric Svanberg really, that's the Chaiman - but apparently he is gone into hiding and it is Tony who is in trouble. He probably deserves it as much anyways.

So you got it, it's the devastating oil spill in the Gulf of Mexico. That makes me sick. The environmental side is terrifying. All the jobs lost terrible. The poor animals, it breaks my heart when you see the birds, the fish suffocating to death. But what really gets to me is the money side. 

BP has announced that they are now making significant progress (about time, it's only been 2 months) and is now capturing 10'000 barrels a day. But the question is: how much is that compared to what is still going into the sea? 20%, 50%? Well nobody knows, because BP is not saying how much oil is actually being spilt everyday. They are too clever for that and there is a very good reason to that! The US government is fining BP $4'300 per barrel of oil in the sea. So if BP keeps secret the amount of oil, well they keep their fine to a minimum as well. 

BP will have to pay a minimal fine of $2 Billion. In 2010 they are expected to announce a profit of $24 Billion. Yes, 24. So BP's fine is what we can call a drop in the ocean... Money and Oil!

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