3 more reasons the President should take control of BP’s Gulf operation
Polls show public disapproval over the Obama administration's handling of the worst oil spill in U.S. history.
1. Why hasn’t BP moved more of its rigs and tankers to the site? Because BP’s first responsibility is to maximize shareholder value, and moving more rigs and tankers would be too expensive. Coast Guard Admiral Thad Allen, the government’s man on the scene, said BP planned to move another rig to the spill site June 14, which would enable the company to boost its capacity to collect oil from the ruptured well to 28,000 barrels (1.18 million gallons/4.45 million liters) a day.Skip to next paragraph
Robert is chancellor’s professor of public policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Clinton. Time Magazine named him one of the 10 most effective cabinet secretaries of the last century. He has written 13 books, including “The Work of Nations,” his latest best-seller “Aftershock: The Next Economy and America’s Future," and a new e-book, “Beyond Outrage.” He is also a founding editor of the American Prospect magazine and chairman of Common Cause.
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2. Why isn’t BP leveling with the American people about how many barrels of oil is gushing into the Gulf? Because BP’s first responsibility is to its shareholders, and a bigger leak means more liability. Government scientists estimate the leak spews 12,000-19,000 barrels a day, with one estimate as high as 25,000 barrels. BP says it’s not nearly this much.
3. Why isn’t BP acknowledging a huge plume of oil developing deep under water? Ditto. On Tuesday, National Oceanic and Atmospheric Administration researchers reported subsurface oil as far as 142 miles from the leaking Gulf well, the first clear confirmation of such a plume. On Wednesday, BP rejected the report, insisting that it has not found any significant concentration of crude under the surface. “We haven’t found any large concentrations of oil under the sea. To my knowledge, no one has,” BP Chief Operating Officer Doug Suttles said on NBC’s TODAY show.
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