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…
According to this post at FastCompany.com BP is being accused of dumping sand on top of oil from the Gulf Spill at a beach in Louisiana. Below is the video they posted showing oil sandwiched between different layers of sand. The oil was exposed by erosion caused by the hurricane/tropical storm that blew through the gulf earlier this week. Obviously there needs to be confirmation by an independent scientific expert, but if the story is proved true it will be next to impossible to believe anything that BP says about the spill.
This is capital-a awesome:
(AP Photo/Charlie Riedel)
Boston.com's photo array of birds caught in the big oil spill in the Gulf has generated over 2,990 comments at the point that I type this. If you take a look at them you can understand why.
(h/t to Rex for the link)
What to do when you can't cap the gusher? Why, set your attorneys loose:
Alabama Attorney General Troy King said tonight that he has told representatives of BP Plc. that they should stop circulating settlement agreements among coastal Alabamians.
The agreements, King said, essentially require that people give up the right to sue in exchange for payment of up to $5,000.
King said BP's efforts were particularly strong in Bayou La Batre.
The attorney general said he is prohibited from giving legal advice to private citizens, but added that "people need to proceed with caution and understand the ramifications before signing something like that.
(h/t to Ed Cone for the link)