Shoot Me

Thursday, June 17, 2010

The Wall Street Journal linked to this Kos story: Oil and Gas Investor's Executive of the Year.

I am going to quote the whole article because it's short:

legal responsibility for the Gulf oil disaster falls on four corporations: BP, Transocean, MOEX Offshore and Anadarko Corporation. They were asked to testify before the Senate today. The CEOs of two of them said they have scheduling conflicts.

Anadarko CEO James T. Hackett, however, does have time this week to be in Houston to accept Oil and Gas Investor's Executive of the Year award, handed out Tuesday.

"Last year this leading Houston-based company generated a 68 percent return to shareholders, while cutting costs and spending during the downturn," reads the announcement of Hackett's award. Cost cutting may have led to significant shareholder returns, but it also is believed to have contributed to the fatal explosion and blowout of the well.

And that pretty well sums up the industry. The man who runs one of the companies that helped cause the worst environmental disaster in American history is being rewarded by his industry. As its Executive of the Year. For the very same cost-cutting that likely caused the disaster. They are what they are.
The last paragraph says it all. I quit.


Joe Barton (R - TX) is a giant douchebag.


Monk-in-Training 5:03 AM  

According to Yahoo financial, BP's total revenue for 2009 was 239,272,000,000.00.

Yes that is 239 billion. This 20 billion escrow account is just the cost of doing business.

This industry has so much cash in it, that it is hard to even understand how much it is.

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