BP and its oil spill responsibility

President Obama is determined to place to full blame for the terrible oil
rig explosion and the consequent disastrous oil leak in the Gulf of
Mexico totally on the back of BP. But Osama does not stop there. He also has
made a proclamation that BP must be liable for the lost salaries and wages of
workers employed on rigs that were shut down by his arbitrary and capricious
moratorium on drilling operations. The President is apparently incapable of
connecting events and allocating clearly the causes and consequences of the
actions of the different parties to this fiasco.  In retrospect, the feds must
shoulder a good deal of the blame for the culture of incompetence and the ultra
risky environment that are at the heart of the root causes of this crisis.
The enormous demand for environmental safety
( what a joke) and the related federal regulations was the chief
cause which drove the drilling and production operations into water depths of a
mile and more deep in which a solution to the problem at hand became
extraordinarily more complex to solve.   This is not the fault of BP.
 
Not only does Obama refuse to clearly conceptualize the nature of the
disaster, assess the root causes and allocate blame accordingly,but  by failing
in this regard Obama appears to be on a certain mission to destroy BP’s cash
reserves,market value and investor interests. Obama does not appear to
understand that one cannot get blood from a turnip.
 
Obama has made his position clear in the past that he is no friend of
capitalism, the profit motive and large corporations which he instinctively
relishes punishing and blaming for the ills of society. The President’s failure
to appreciate and credit free enterprise for its invaluable contributions to
America’s historic success in the world reflects Obama’s immaturity as a leader,
and the extreme leftist ideology of Obama and his administration. 
 
Certainly BP must make good on its obligations to remedy this terrible mess
to the extent
of its reasonable ability, subject to the applicable laws that govern these
obligations. BP must balance its social responsibilities to the environment and
individuals which have been harmed by this disaster on the one hand with its
responsibility to its investors on the other.
 

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