Monday, June 14, 2010

Worst Oil Spills from History



We [THE BOSS and I] have made the decision to buy ONLY BP gas until this entire episode is completed. We do this for several reasons:

1. I want BP around to pay for the cleanup.
2. If Obama has his way, he'll make so many demands on BP that they will have to declare bankruptcy.
3. Which then means the US taxpayer will be on the hook for the cleanup.
4. Which means my damn taxes are going to go up further.
5. I gotta buy gas somewhere.

All because Obama wants to jawbone BP instead of throwing all available assets toward containing the spilled oil. Why won't he "lead from the front" and donate all those big-ole Michelle Obama, that's miles and miles of material. Sorry, could help myself. Her butt is bigger than mine (and that's going some).

So by buying BP gas, we are providing revenue for spill cleanup, keeping the stock price of BP from collapsing (which protects retirement accounts which are invested in BP stock), and assuring that there will be revenue from BP to pay the claims that will come.

Just ask Gov Jindal if the gov't and BP are doing all they can and have been on top of this "from day one".

I'm frankly surprised that BP hasn't filed bankruptcy yet. They have a very large (and as of now unlimited) liability. But I suspect if we put a pencil to paper now and just figure out the costs of cleanup and the lawsuits from folks who have lost their jobs, the total (in round figures) would exceed the assets of the entire BP company. It's coming -- mark my words. Every day oil continues to leak increases the possibility of a bankruptcy filing.

Sigh. Why don't we offer $10 an hour to folks to cleanup the spill...and take the unemployment rate back to 5%? If we're going to take money from BP, let's at least put folks to work with it. Or is all that money going to flow to SEIU-backed union members only?

Oh, and while I'm ranting, can't we nuke the damn oil well, as the Russians did several times? And if we're going to use a few nukes, let's use a few in Afghanistan, please. Bomb em back to the stone age.

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