BP Shadow CEO Makes Statement
It looks as if the Shadow CEO of BP, Rep. John Dingell has a few words about the recent pipeline break in Alaska:
"It is appalling that BP let this critical pipeline deteriorate to the point that a major
production shutdown was necessary," said Rep. John Dingell, the top-ranking Democrat on
the House Energy and Commerce Committee, in a statement.
"The United States Congress has an obligation to hold hearings to determine what broke
down here and what laws and regulations need to be improved to ensure problem pipelines
like these are found and fixed earlier," Dingell said.
It makes me feel better about myself when I know that Rep. Dingell is single-handily keeping "Big Oil" in check. Isn´t the answer to problems always found by enacting more laws and regulations? Better yet how about nationalizing the nations energy sector? The private sector can never manage to compete with the efficiency and expertise of bureaucrats led by a Board of Directors chaired by Hillary Clinton, Chuck Schumer, Charlie Rangel, and the great gift from God, Teddy Kennedy. Or maybe the market punishes BP by first off, requiring them to spend the money to fix the problem if they want to continue making money from the revenue source. Then they will inevitably be skewered in the media and by a multitude of environmental watchdog groups who will no doubt issue Armageddon type proclamations that BP will be forced to address. Most important of all, the more risk BP places on itself the less chance they have of being able to compete with other oil companies such as Exxon, Connoco Phillips, etc... Profit is the end game for businesses and the worst thing that could happen to oil companies is to not be able to sell oil when the price is near all time highs, that is punishment enough for BP.
"It is appalling that BP let this critical pipeline deteriorate to the point that a major
production shutdown was necessary," said Rep. John Dingell, the top-ranking Democrat on
the House Energy and Commerce Committee, in a statement.
"The United States Congress has an obligation to hold hearings to determine what broke
down here and what laws and regulations need to be improved to ensure problem pipelines
like these are found and fixed earlier," Dingell said.
It makes me feel better about myself when I know that Rep. Dingell is single-handily keeping "Big Oil" in check. Isn´t the answer to problems always found by enacting more laws and regulations? Better yet how about nationalizing the nations energy sector? The private sector can never manage to compete with the efficiency and expertise of bureaucrats led by a Board of Directors chaired by Hillary Clinton, Chuck Schumer, Charlie Rangel, and the great gift from God, Teddy Kennedy. Or maybe the market punishes BP by first off, requiring them to spend the money to fix the problem if they want to continue making money from the revenue source. Then they will inevitably be skewered in the media and by a multitude of environmental watchdog groups who will no doubt issue Armageddon type proclamations that BP will be forced to address. Most important of all, the more risk BP places on itself the less chance they have of being able to compete with other oil companies such as Exxon, Connoco Phillips, etc... Profit is the end game for businesses and the worst thing that could happen to oil companies is to not be able to sell oil when the price is near all time highs, that is punishment enough for BP.
posted by Tip Tucker | 3:45 PM
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