Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24
Republican vs Democrat Presidents and the Stock Market - 13th Dec 24
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 24
Stock & Crypto Markets Going into December 2024 - 2nd Dec 24
US Presidential Election Year Stock Market Seasonal Trend - 29th Nov 24
Who controls the past controls the future: who controls the present controls the past - 29th Nov 24
Gold After Trump Wins - 29th Nov 24
The AI Stocks, Housing, Inflation and Bitcoin Crypto Mega-trends - 27th Nov 24
Gold Price Ahead of the Thanksgiving Weekend - 27th Nov 24
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

THE GULF OIL SPILL: A Matter Of National Security

Politics / US Politics May 23, 2010 - 03:25 AM GMT

By: T_Anthony_Michael

Politics Why does the US Federal Government continue to allow British Petroleum (BP), a serial criminal among oil companies, control the biggest crime scene in American history?!


Why hasn’t President Barack Obama (BO) simply taken complete control of the situation, moved BP out of the way and capped the well, permanently?! Instead, they allow BP to tell the US victims how and when to clean up BP’s very own crime scene (BP is part of the government-empowered unified command structure currently keeping scientists from doing their work in the Gulf and journalists from photographing oil slicks).

Everyone agrees that a very serious crime against the People of the USA has been committed by this corporate behemoth. Many others firmly believe that it will soon become a crime against humanity, as the oil finds its way into the Seven Seas. And, of course, the many environmental groups from around the planet observe an unparalleled assault and eventual aquacide against a major water body and ecosystem, the Gulf of Mexico.

How in the world did we get here?

We have to step back in time to those unsavory GWB years to really understand some of the root causes. When George W. Bush and Tony Blair were negotiating their deal to commit an international war crime against Iraq, they had to come to terms, and quickly. The end result of their cattle-swapping was an extraordinary concession on the part of GWB in order to secure cover from the Brits to illegally invade a sovereign nation (for their oil), as though the Blair Administration could offer legitimacy for anything.

The final deal gave BP an extremely generous and enormous stake in oil leases all over offshore America, especially in the Gulf of Mexico in those areas with the most proven oil reserves. Herein lies the real megilla. You see, the Gulf produces upwards of 50% of the oil and gas necessary to fuel the US military. The wars in Iraq, Afghanistan, Pakistan, as well as those being waged by proxy by the Anglo-American juggernaut in many other regions around the globe, couldn’t be waged without this vital source of energy. End of story.

Well, not quite. You see, BP, as a foreign multi-national corporation, can do things in the process of exploration, drilling and extraction of oil that US based companies can’t do. What and why, you may ask, would a foreign national corp (short for corpse) with a track record like BP’s be given so much latitude? How could they, of all oil giants, be the beneficiary of such permitting largesse, regulatory laxity and freedom of practice?

Well, first of all, they were permitted to drill at depths to which no one else could drill – legally – because of the mother lodes waiting at the tip of their humongous drill bits. In the instant case we’re talking 3 billion barrels of oil. Also, by their convenient foreign corporate distance from the US Government, they were practically immune to various oversight regimes that are normally imposed on their US counterparts. Wink, wink (|) (|).

The insiders have all weighed in on the matter of what is really going on when you drill 35,000 feet into the crust, and mantle, of the Earth. This is not only a HUGE undertaking technologically; the very mechanics and physics of the process occur with great, untold risks. This is, in fact, well known by insiders to be a highly speculative venture, which is so experimental in nature that it should only have proceeded with every single precaution and failsafe mechanism firmly in place, if at all.

We now know that very few of these extraordinary measures were put into place. And that those that were, were not always properly executed. Nor were some critical SOP’s, generally accepted by the oil and gas industry, adhered to. Even when couched in the mildest euphemisms, this conduct by BP, its various contractors, as well as other commercial entities involved, was, is, and will continue to be shockingly cavalier and grossly irresponsible. Hence, we see a crime against a whole region of this nation … in living color.

But why, pray tell, is the oil well still gushing, and the US Federal Government seems to take only casual notice (from their actions, not lip service) of the latest BP failed attempt to cap it?!

Now were getting somewhere. And that is the sacrosanct matter of NATIONAL SECURITY. Given the political will to fight the aforementioned wars, as well as the desperate search to secure and produce massive amounts of crude oil to fuel those wars, the Obama Administration, as did its predecessor, has demonstrated a willingness to exploit reserves anywhere and everywhere they can be found. Witness the pronouncement BO made on March 31 to end the ban on East Coast and North Alaskan shore drilling.

Now let’s fast forward to April 20th, and the day “They Literally Punched A Hole Into Hell”.

But what does this have to do with national security? As far as a war-mongering Administration is concerned, everything. And although they will not tell us, their “out”, at the end of the day, will be national security. We are just to close to the crime scene in both time and space for them to hang their top hat on such an explosive disclosure. Perhaps the American population that domiciles throughout the entire SE quadrant of the US would take a little too much offense?

When the Departments of Energy, Interior, Homeland Security and the EPA all completely fall down on the job, before and after the gusher blew, they obviously have a problem. Actually, it may very well become the biggest PR problem in US political history, as evidenced by the testy relationship brewing between Robert Gibbs and the Washington Press Corp. The press corps knows they’re being lied to. They just haven’t quite yet connected the dots. And since the Faustian bargain between Bush & Blair is supposed to be verboten for all time, especially within the MSM, what can really be said.

Make no mistake, this whole saga does speak directly to the complicity between BP and BO, and therefore both will be held accountable in the end. Truly, BP could not have gotten away with this crime, especially in broad daylight, were it not for the accomplice, BO, setting up the crime scene in advance and giving cover during the cover-up. Environmental terrorism and ecological genocide, regional economic destruction and financial collapse, and the inevitable deterioration of the social fabric on this order and magnitude could only have taken place with the blessing of this Administration, as well as the full backing of the Military-Industrial Complex. The US military and Big OIL do, after all, just about own the Gulf Coast, as well as many of the economies of those same bordering states.

But, really, did the US Federal Government sacrifice an entire regional economy, environment and way of life for a single oil well? As the Enabler-in-Chief, this president has most unfortunately shown a readiness to advance an agenda that is perfectly consistent with that of his predecessor. Remember, a quite nefarious back room deal was made (not on his watch), but he appears to be sticking to it come hell or oily water. BO apparently does not realize that too big to fail now translates to too big not to fail, particularly in light of the looming and awesome consequences to this nation, as well as to the world at large.

Given the enormity and gravity of this catastrophe, it will eventually come down to national security. And then the American people will be forced to contemplate: At what price?

P.S. As we write this piece, some of the best, scientific estimates tell us that well over 35 million gallons, or 833,333 barrels, of oil have spilled thus far. That is 3 and 1/2 times the Exxon Valdez Oil Spill, and the same experts admit that it could actually be much more. We The People we_the_people@fastmail.us

T. Anthony Michael is a Financial Analyst & Long Range Financial Planner.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

T. Anthony Michael Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Richard
23 May 10, 06:37
BP vs US government response

wrt the opening statement as to why the US government hasn't taken control of capping the well - it's this. The only people with the expertise to do this are the oil companies. The US government, or any other body, has not developed any technology to deal with this scenario. The issue of capping a well a mile beneath the ocean is a high-tech issue, and the only people who have had an interest in spending billions of dollars in developing the tech are oil companies. There are only a handful of manned vehicles that can descend to this depth, and none of them could do anything. Nor are they owned by the US, or even in the area. The only tech available is robot subs owned by the oil companies. The single other option available to the US government would be a nuclear strike to seal the well. This would involve contravening ever effort at global nuclear disarmament, and give countries like Iran, who are involved in offshore drilling, recourse to demand nuclear armament as an enviromental safety control.


Gary
31 May 10, 10:15
Blame the BP, why don't you

what ever blaming the BP, it was you bloody Americans who made the mess, and now your giving the BP the blame.


Nadeem_Walayat
31 May 10, 17:41
BP

It was just a matter of time, it could have been any of the oil companies drilling in the gulf.

The republicans are hypcrites, they were the ones wanting more drilling with Palin making statements such as "Drill Baby Drill"


Post Comment

Only logged in users are allowed to post comments. Register/ Log in