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catoismymotor (32.33)

AP: BP engineer called doomed rig a 'nightmare well'

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June 15, 2010 – Comments (6) | RELATED TICKERS: BP , RIG , HAL

 

AP: BP engineer called doomed rig a 'nightmare well'

The news just keeps getting worse. It honestly makes me feel sick about the damage that has been done to the environment and wildlife to those dependent on the gulf for making a living. I normally listen to talk radio and NPR in the morning, but find myself changing the station when the subject of the oil spill comes up. There is only so much bad news a mind can take in, pre or post caffeine.

I am thankful that my son is still too young to understand enough to ask me what and why this happened. What could I say to explain this horror to such a young mind? I dread a conversation like that over the one about the birds and bees. At least with the birds and the bees only two people are effected if there is a spill, most of the time.

I saw a question posted on here a few days ago. I can't recall if it was a blogger or a TMF writer that asked if BP or GS is worse. In my opinion it is BP by three lengths. The corner cutting is abominable. Just read the story. It reaffirms my opinion.

Cato

P.S. - Before the April 20 explosion was a fan of BP, had my eye on their stock. I feel sorry for those that are heavily invested with BP.

6 Comments – Post Your Own

#1) On June 15, 2010 at 10:50 AM, Turfscape (42.28) wrote:

Cato wrote:
"There is only so much bad news a mind can take in, pre or post caffeine."

Amen.

"Before the April 20 explosion was a fan of BP, had my eye on their stock. I feel sorry for those that are heavily invested with BP."

I've been pondering this situation, and fretting. I couldn't help but look at the stock after the battering it took, post spill. I read a lot of the contrarian blogs here making the case that it's a perfect time to buy BP (depressed price, penalties won't have long term adverse affect to profits, etc). And, I read the Scott Adams piece about investing in the companies you hate (which did make me chuckle).

But, I've come to realize that I simply can't, in good conscience, consider owning a piece of this reckless company...no matter what profits it may or may not bring. Truth is, I hope that BP suffers so greatly that it goes into receivership. I hope that the executives face the loss of their homes. I hope that BP fails to such a point that it serves as a permanent testament to all companies worldwide for the next two centuries of the effects of not maintaining the highest levels of safety and responsible environmental practices. And I hope that it acts as a true catalyst for advancements in alternatives to petroleum-based fuels and products.

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#2) On June 15, 2010 at 11:21 AM, obsoleteaccount (30.76) wrote:

I havent followed this whole disaster as much as the rest of fools so can somebody fill me in as to why they hate BP so much for this spill?  From my understanding, BP didnt really want this nor did they expect this to happen.  It was just a mistake, a reallly really big mistake

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#3) On June 15, 2010 at 11:36 AM, jesusfreakinco (29.07) wrote:

Tracking some articles on this blog in case you are interested.

http://caps.fool.com/Blogs/bp-deserves-to-die-latest/406732

JFC

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#4) On June 15, 2010 at 12:14 PM, Turfscape (42.28) wrote:

Valyoo wrote:
"BP didnt really want this nor did they expect this to happen."

Not wanting it to happen doesn't excuse not being prepared for it to happen, nor not working with the utmost diligence to prevent it happening, nor not responding with extreme swiftness and never-before-seen force once it did happen.

If a man sits on his front porch swinging a gun around while drunk, and it happens to go off and kill a child...do you forgive and forget because he didn't MEAN for it to happen?

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#5) On June 15, 2010 at 12:49 PM, davejh23 (< 20) wrote:

"Not wanting it to happen doesn't excuse not being prepared for it to happen, nor not working with the utmost diligence to prevent it happening..."

I agree...and based on the comments made by this engineer, I wouldn't be suprised if BP executives faced severe criminal charges and end up in prison.  I don't think BP could ever possibly cover the costs of cleanup and damages that they should, but probably won't, face.  However, even if they could cover the costs, they deserve to fail for criminal negligence.

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#6) On June 15, 2010 at 1:28 PM, rofgile (99.34) wrote:

Valoo:

 BP wouldn't have wanted the spill (its costing them 30 billion in market cap, 100 billion in costs, and severe damage to their "Beyond Petroleum" brand).  

 However, they are the oil company with 700 some safety and regulation violations per year, whereas the others such as Exxon have below 10.  They are the company that had leaking pipelines in Alaska, and a refinery explosion in Texas all in the last several years.  This is a history of cost cutting, poor safety, and disregard for risk.

 They rolled the dice too many times to save money - and this time they rolled a Snake Eyes and lost it all.

 -Rof 

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