BP Bailout Proposal Coming Soon

Get ready for the BP bailout debate. As the most hated company in America led by the most despised CEO in business continues its systematic deceptions about the magnitude of the catastrophe, its systematic secrecy and threats of reprisal against employees who speak the truth in public and its systematic blockade against reporters seeking the basic facts, get ready for the mother of all political debates.

When the full damage of the oil is calculated, and the full payment of restitution is required and the full consequences of lawsuits are understood and the monetary consequences of such enormous personal and economic misery are realized, BP will tell us that we face the choice of BP going bankrupt and being unable to pay its debts or receiving a government bailout so it can meet its obligations from the damage it has done.

We will be told that BP is too big to fail.

Prediction: Before the rooster crows another 60 times, BP will be seeking a government bailout. If you thought the Wall Street bailout debate was nasty, wait until you see the BP bailout debate.

There should be NO bailout of BP paid for by ANY taxpayer, period, end of discussion, over and out. If necessary there should be a fund paid for by all of the oil companies doing offshore drilling, as the price of their doing business off our shores and as the incentive to make sure this does not happen again.'

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Toxic Corexit Dispersant Chemicals Remained Secret as Feds Colluded with Big Business

After weeks of silence on the issue, the U.S. Environmental Protection Agency (EPA) finally decided to go public with the list of ingredients used to manufacture Corexit, the chemical dispersant used by BP in the Gulf of Mexico oil disaster. There are two things about this announcement that deserve our attention: First, the ingredients that have been disclosed are extremely toxic, and second, why did the EPA protect the oil industry's "trade secrets" for so long by refusing to disclose these ingredients until now?

As reported in the New York Times, Brian Turnbaugh, a policy analyst at OMB Watch said, "EPA had the authority to act all along; its decision to now disclose the ingredients demonstrates this. Yet it took a public outcry and weeks of complaints for the agency to act and place the public's interest ahead of corporate interests".'

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CEO: BP Will Make Good on $10 Billion in Profit Payouts to Shareholders, Despite Oil Gusher Disaster

BP's shareholders may receive more this year from the company's coffers than those affected by the spill in the Gulf of Mexico will receive in their lifetime.

BP CEO Tony Hayward has indicated that he will go ahead with massive dividend payouts to shareholders in the aftermath of the worst oil spill in US history. $10 billion in payouts are scheduled for this year. The cost of the spill has been estimated in the tens of billions, but ExxonMobil only ended up paying a $507 million settlement for the 1994 Exxon Valdez spill after 20 years of appeals.'

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BP Oil Leak May Last Until Christmas in Worst Case Scenario

BP Plc’s failure since April to plug a Gulf of Mexico oil leak have prompted forecasts the crude may continue gushing into December in what President Barack Obama has called the greatest environmental disaster in U.S. history.

BP’s attempts so far to cap the well and plug the leak on the seabed a mile below the surface haven’t worked, while the start of the Atlantic hurricane season this week indicates storms in the Gulf may disrupt other efforts.

“The worst-case scenario is Christmas time,” Dan Pickering, the head of research at energy investor Tudor Pickering Holt & Co. in Houston, said. “This process is teaching us to be skeptical of deadlines.”

Ending the year with a still-gushing well would mean about 4 million barrels of oil spilled into the Gulf, based on the government’s current estimate of 12,000 to 19,000 barrels leaking a day. That would wipe out marine life deep at sea near the leak and elsewhere in the Gulf, and along hundreds of miles of coastline, said Harry Roberts, a professor of Coastal Studies at Louisiana State University.

So much crude pouring into the ocean may alter the chemistry of the sea, with unforeseeable results, said Mak Saito, an Associate Scientist at Woods Hole Oceanographic Institution in Massachusetts.

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Physics Professor: Oil Leak Could Last for Years

Physics professor Michio Kaku has some bad news: oil could gush from the leaking BP deepwater well for years.

After six methods for stopping the leak failed, BP is now trying a seventh method: "cut and cap." Underwater robots are attempting to trim the pipe connected to the blowout preventer -- and depending on how well the cut is made, either a "top hat" or "top cap" will be lowered from the surface which would then transport the spewing oil to a drilling ship.'

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Fury and Despair as BP Admits Oil Could Gush for Months

An uncontrollable fountain of oil could gush into the Gulf of Mexico until August, the Obama administration warned today, as BP conceded it was moving to a containment strategy after failing to plug the well at the centre of the most environmentally disastrous spill in US history.

As anger and despair grew in the coastal communities of Louisiana, BP began preparations to cut a leaking drill pipe on the ocean floor and attach a containment cap intended to capture at least some of the 12,000 to 19,000 barrels of crude spewing from its Macondo well every day.

The oil company, which has come under withering attack for its handling of the crisis, acknowledged there was "no certainty" of success in the effort, which will take four to seven days and which some experts say could make the leak worse.'

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Energy Expert: Nuking Oil Leak ‘Only Thing We Can Do’

BP 'totally in charge of the news' about oil leak, energy expert says

As the latest effort to plug the oil leak in the Gulf of Mexico meets with failure, the idea of nuking the immediate area to seal the oil underground is gaining steam among some energy experts and researchers.

One prominent energy expert known for predicting the oil price spike of 2008 says sending a small nuclear bomb down the leaking well is "probably the only thing we can do" to stop the leak.'

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Obama Administration Blocked Efforts to Stop BP Oil Drilling Before Explosion

"In 2009, the Obama administration intervened to support the reversal of a court order that would have halted offshore oil drilling in the Gulf of Mexico. Obama’s Interior Secretary Ken Salazar, who has long had close ties to the industry, specifically cited BP’s Deepwater Horizon operation as one that should be allowed to go forward, according to a group involved in the court case.

A Washington DC Appeals Court ruled in April 2009 that the Bush administration’s five-year plan for offshore oil and gas drilling (covering 2007 to 2012) was not based on a proper review of the environmental impact of the drilling. Only days before the ruling, the Obama administration had granted BP a “categorical exclusion,” exempting it from an environmental impact study for the Deepwater Horizon project".'

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Parish official: BP Shipped in Workers for President's Visit

A Gulf Coast official accused BP of shipping workers into Grand Isle, Louisiana, for President Barack Obama's visit to the oil-stricken area Friday and sending them away once the president left the region.

Early Friday morning, "a number of buses brought in approximately 300 to 400 workers that had been recruited all week," Jefferson Parish Councilman Chris Roberts told CNN's "Situation Room."

Roberts said the workers were offered $12 an hour to come out to the scene at Grand Isle and work in what he called a "dog and pony show."

But, when Obama departed, so did the workers, he said, adding that he's never seen more than 20 workers at the Grand Isle cleanup site since the effort started.'

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BP Capping Information Flow on Oil Gusher Damage

British Petroleum, accountable for a devastating oil leak in the Gulf of Mexico, is reportedly blocking efforts to expose the extent of damage caused by the environmental disaster.

The explosion of BP's Deepwater Horizon oil rig has been sending a historic amount of oil gushing into the Gulf of Mexico over the past three weeks.

With at least 70,000 barrels of oil leaking into the Gulf per day, there are grave concerns that wildlife is faced with a serious threat.

BP rejected claims that the move sought to hide the extent of damage. The company argues that the censorship was only established to provide one reliable source for the public.'

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Obama Administration Defends BP Response to Oil Gusher Disaster

Amid growing popular anger over BP’s disastrous response to the gulf coast oil spill, the Obama administration came to the company’s defense on Monday, while again rejecting any federal takeover of the response.

Coast Guard Commandant Thad Allen defended BP’s actions at a White House press conference on Monday, calling them "rational." Allen said that he could not see any reason why the federal government should take over the response to the oil spill.

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Justice Department and Congress Should Investigate Whether BP Committed Perjury

The Department of Justice and congressional committees should open a preliminary inquiry about whether BP committed perjury in testimony before Congress. All video of the spill should be released publicly. Subpoenas should be issued for any information from within BP about its private estimates of the size of the spill and the dangers of the dispersants. Key BP personnel should be formally interviewed by investigators.'

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How Bush's DOJ Killed a Criminal Probe Into BP That Threatened to Net Top Officials

West was the special agent-in-charge at the Environmental Protection Agency's (EPA) Criminal Investigation Division who had been probing alleged crimes committed by BP and the company's senior officials in connection with a March 2006 pipeline rupture at the company's Prudhoe Bay operations in Alaska's North Slope that spilled 267,000 gallons of crude oil across two acres of frozen tundra - the second largest spill in Alaska's history - which went undetected for nearly a week.

West was confident that the thousands of hours he invested into the criminal investigation would result in felony charges against BP and the company's senior executives who received advanced warnings from dozens of employees who worked at its Prudhoe Bay facility that unless immediate steps were taken to repair the severely corroded pipeline, a disaster on par with that of the 1989 Exxon Valdez spill was only a matter of time.'

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Criminal Negligence: Despite Knowing It Had a Damaged Blowout Preventer, BP STILL Cut Corners By Removing the Single Most Important Safety Measure

UC Berkeley engineering professor Bob Bea told 60 Minutes that a damaged blowout preventer not only may lead to a catastrophic accident like the Gulf oil spill, but leads to inaccurate pressure readings, so that the well operator doesn't know the real situation, and cannot keep the rig safe.

Bea also said that - despite the damage - BP ordered the rig operator to ignore an even more critical safety measure. Specifically, BP ordered the rig operator to remove the "drilling mud" - a heavy liquid used to keep oil and gas from escaping - before the well was sealed.

According to Bea, the accident would not have occurred had drilling mud been used.'

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British Petroleum's Oil Spill is Latest Crime in a Criminal History

Far from being a "good corporate citizen," BP is a corporation that has made its huge profits through a history of crimes around the globe. Originally named the Anglo-Persian Oil Company, the company was founded in 1908, as the first company plundering the oil reserves of the Middle East. Anglo-Persian was renamed Anglo-Iranian Oil Company in 1935 and was subsequently renamed the British Petroleum Company in 1954.

The British government owned a majority share of the company and what little revenue was handed to the Iranian government was paid back to British and other European creditors. In 1947, for example, AIOC reported after-tax profits of £40 million, while giving Iran a mere £7 million.

The company subjected Iranian workers to deplorable working conditions, paying Iranians considerably less than foreigners. The following passage is how the director of Iran’s Petroleum Institute described those conditions.'

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International Hearings Begin On “Falsified” Swine Flu Pandemic

“In order to promote their patented drugs and vaccines against flu, pharmaceutical companies influenced scientists and official agencies, responsible for public health standards to alarm governments worldwide and make them squander tight health resources for inefficient vaccine strategies and needlessly expose millions of healthy people to the risk of an unknown amount of side-effects of insufficiently tested vaccines. The “bird-flu”-campaign (2005/06) combined with the “swine-flu”-campaign seem to have caused a great deal of damage not only to some vaccinated patients and to public health-budgets, but to the credibility and accountability of important international health-agencies".'

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U.N. Climate Chief Cashes In On Carbon

A story emerging out of Britain suggests "follow the money" may explain the enthusiasm of the United Nations to pursue caps on carbon emissions, despite doubts surfacing in the scientific community about the validity of the underlying global warming hypothesis.

A Mumbai-based Indian multinational conglomerate with business ties to Rajendra K. Pachauri, the chairman since 2002 of the U.N. Intergovernmental Panel on Climate Change, or IPCC, stands to make several hundred million dollars in European Union carbon credits simply by closing a steel production facility in Britain with the loss of 1,700 jobs.'

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Swine Flu Gate: Is Virologist Albert Osterhaus the Ringleader?

Albert Osterhaus, a professor for virologie at Erasmus University in The Netherlands, and a key advisor of WHO and EU, is under investigation for having concealed slush funds from pharmaceutical companies, according to Polskaweb.

Polskaweb reports a Dutch parliamentary committee of inquiry has been launched into the connection between the large sums of money paid by big pharma into Osterhaus' private bank accounts and his role in ratcheting up the swine flu scare to allow a pandemic level 6 declaration – something which, in turn, has allowed big pharma to reap huge profits through the sale of toxic pandemic vaccines.

Osterhaus also played a leading role in creating the bird flu scare by maintaining that he had proved that the bird flu virus could be transmitted to humans.

The bird flu alarmism resulted in health minister pushing through pandemic plans that strip people of their constitutional rights and also to profits of 100 million euros for Roche.

But Osterhaus appears to have financial links not just to Roche but also to GSK, Aventis and Baxter.'

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RBS Board on Brink as Treasury Prepares to Veto £1.5 Billion Bonuses

The Treasury signalled last night that it was prepared to veto a £1.5 billion bonus pool at Royal Bank of Scotland in a move that could trigger the resignation of the bank’s board.

RBS directors have been advised by the bank’s lawyers to resign if a Treasury bonus veto means they are unable to run the bank commercially and in the best interests of all shareholders.

People close to the Treasury signalled last night that Alistair Darling would throw out any bonus plan at RBS that was much higher than last year’s £1 billion.'

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Operation: Arrest the Crimatologists

The millions of people who are following the twists and turns of the unfolding climategate scandal online are increasingly asking themselves the same question: if a scientific theory falls in the forest and there’s no reporter willing to cover it, does it make a sound?

The scandal has been raging for well over a week now and so far it has become one of the hottest searches on the internet, spurred a congressional investigation into the matter, prompted the UK Information Commissioner to consider evidence that documents pertaining to FOI requests were illegally destroyed, forced Penn State to launch an investigation into its climate scientist superstar, Michael Mann, freed scientists to finally speak out against the IPCC, and reignited an intense scientific debate over the fallibility of the peer-review process and the practice of hiding data from other researchers. Not that you’d have learned any of that from following the mainstream media.'

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