Worth reading in its entirety --
Gulf Kill
IS BP TOO BIG TO CARE?: BP's attitude toward the Gulf catastrophe resembles the shrugs of Wall Street firms who caused the near collapse of the global economy. BP Chief Operating Officer Doug Suttles has expressed his optimism that both his company and the Gulf will "will fully recover," even though Prince William Sound has yet to "fully recover" 21 years after the Exxon Valdez spill. Likewise, BP CEO Tony Hayward -- who received a 40 percent pay raise last year to about $5.8 million -- said he believes the "environmental impact of this disaster is likely to be very, very modest" because the Gulf of Mexico is a "very big ocean." BP Chairman Carl-Henric Svanberg said his company is a "big and important company for the US" and expects that BP will be able to "move on," although its "reputation will be tarnished." Financial analyst Tom Nelson believes BP's stock drop "is a fantastic opportunity to buy a very high quality long-term business on a very cheap rating." Center for American Progress senior fellow Joseph Romm called BP "the Goldman Sachs of big oil" because of its spotty safety record, insistence on voluntary "trust me" self-regulation, and willingness to cut corners to "save a few bucks." The moral hazard created by privatized profit and socialized risk has allowed bankers to cripple our economy and energy companies to destroy our planet. Ten days ago, MSNBC anchor Chris Matthews lashed out at the consequences of "unbridled free enterprise," wondering why the President doesn't "nationalize that industry and get the job done."
more information:
http://sitfu.com/tag/deepwater-horizon/
additional photos:
http://www.boston.com/bigpicture/2010/05/oil_reaches_louisiana_shores.html
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