While the much larger spill estimates are the big news today, although of course this has long been obvious and they will go much higher, another interesting bit of narrative is surfacing over the British perception of U.S. attitudes toward the crisis.
It was in today’s New York times in a page one story about “US Fury at BP” raising ire across the pond. But it also surfaces in a June 8 story in The Financial Times, which also includes some interesting stats. For example, says the FT,
— The US accounts for about a quarter of BP’s production,
— The US accounts for a third of BP reserves,
— The US accounts for more than half of BP’s refining capacity.
The NYT notes today that “… BP’s share price, even after recovering some ground in New York trading on Thursday, has fallen more than 40 percent since the environmental catastrophe in April, and some analysts say the crisis could lead to the takeover or even the bankruptcy of one of Britain’s most valuable and iconic companies.”
You can admit that this is legit news. But you can also see this as a huge corporation making sure to get as many women, children, infants and family pets as it can between itself and its responsibility. Look, we all know jobs are at stake here and that there are innocent people on the BP side of this equation … but it’s interesting that these stories could have easily been about how British residents feel about BP letting them down, cutting safety corners … maybe their pension funds might be happier elsewhere.
It’s not the big news, but just watch as the pensioners become part of the background to the story.
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