Things in BP-land ain't looking too good:
THE British government is drawing up contingency plans for a possible collapse of BP.
This is amid mounting fears that the oil giant could be broken up or taken over in the wake of the Gulf of Mexico oil disaster.
The talks, which are being led by officials at the Department for Business and the Treasury, reflect growing concern within Whitehall about the implications that a corporate failure of BP, formerly Britain's biggest company, would have on British interests domestically and around the world.
Oo-la-la. Is it possible that a corporation behaving badly could actually be held accountable for its bad behavior? Well, duh:
Prime Minister David Cameron and Energy Secretary Chris Huhne are set to discuss BP's future with US officials during a trip to Washington on July 20.
Speaking in Toronto at the G20 on June 25, Mr Cameron warned that BP faced potential destruction unless US authorities stepped in to prevent its compensation costs escalating out of control.
Government supplication to petroleum purveyors begins in 10, 9, 8…
