Louisiana deep oil drilling disaster

[Jan Klimkowski]

:bebored:

Austin - good article, thanks for posting.

I had separately been thinking about the Dalkon Shield and Bhopal precedents where the core guilty corporation escaped with minimal financial damage.

BP's share price should potentially reach zero or near enough. However, this will not mean the end of its underlying power nexus.

BP's core power nexus, its deep political structure, will find a way of preserving its wealth and power, through a series of technical corporate moves probably based on the scenarios of AH Robins and Union Carbide.

In those cases, an empty shell was offered up whilst the monster metamorphosed into its new form.

But ordinary shareholders - crucially pension funds - will be screwed.

And the Gulf will at best be a laboratory for cutting edge techniques to restore oil and dispersant contamined shores, breeding grounds and wetlands.

At worst, a dead zone will stretch from Mexico to Cuba.

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