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Bookmark and ShareAndrew Simms is nef‘s Policy Director and head of nef’s Climate Change programme.

A  protestor holds up her own version of the BP logo, dripping with oil.As names go, the First Exploitation Company sounds like an inspired slight dreamed up by an angry anti-oil campaigner. In fact, it was the original title, coined in 1903, of the troubled company we now know as BP. But then, public relations have never been its strong point.

Over the course of a century BP, in its various guises, has managed to outrage everyone from revolutionary nationalist leaders in the Middle East to Britain’s supposedly closest ally. Now Barack Obama has ensured that BP is Public Enemy No 1 in the United States (tonight, he will make his first address to the nation direct from the White House to stress the point).

In the aftermath of the Deepwater Horizon disaster, BP is being freely compared in the US to those poster boys of corporate malfeasance, Enron and Worldcom. Beleaguered chief-executive Tony Hayward may not be Bernie Madoff, but hate mail and threatening phone calls have been directed at him and his family. Hayward is now reportedly undergoing training in front of a so-called “murder board” of legal experts to prepare him for the aggressive questioning he will face from the Congressional Oversight and Investigations Subcommittee in Washington on Thursday.

BP’s share price is tumbling, as its expected liabilities from the spill – estimated at anywhere up to $40bn (£27bn) – climb so high that the financial markets are giving the company’s debt a “junk” rating. Speculation over BP’s future has ranged from filing for Chapter 11 bankruptcy protection to a possible takeover by one of its giant rivals, Exxon Mobil or Chevron.

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