Feel Sorry for BP? - Llewellyn H. Rockwell Jr. - Mises Institute
BP will be responsible for cleanup costs far exceeding the federal limit of $75 million on liability for damages. The public relations nightmare will last for a decade or more. In the end, the costs could reach $100 billion, nearly wrecking the company and many other businesses.
It should be obvious that BP is by far the leading victim, but I've yet to see a single expression of sadness for the company and its losses. Indeed, the words of disgust for BP are beyond belief. The DailyKos sums it up: "BP: Go f*** yourselves." Obama's press secretary, Robert Gibbs, said that the government intended to keep "its boot on BP's neck."
How about reality? The incident is a tragedy for BP and all the subcontractors involved. It will probably wreck the company, a company that has long provided the fuel that runs our cars, runs our industries, and keeps alive the very body of modern life. The idea that BP should be hated and denounced is preposterous; there is every reason to express great sadness for what has happened.
BP will be responsible for cleanup costs far exceeding the federal limit of $75 million on liability for damages. The public relations nightmare will last for a decade or more. In the end, the costs could reach $100 billion, nearly wrecking the company and many other businesses.
It should be obvious that BP is by far the leading victim, but I've yet to see a single expression of sadness for the company and its losses. Indeed, the words of disgust for BP are beyond belief. The DailyKos sums it up: "BP: Go f*** yourselves." Obama's press secretary, Robert Gibbs, said that the government intended to keep "its boot on BP's neck."
How about reality? The incident is a tragedy for BP and all the subcontractors involved. It will probably wreck the company, a company that has long provided the fuel that runs our cars, runs our industries, and keeps alive the very body of modern life. The idea that BP should be hated and denounced is preposterous; there is every reason to express great sadness for what has happened.
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