Failure on a Civilizational Level
BP's investors are hosed. No matter what happens now, experts say the company is no longer viable. Their brand name is ruined, they are on the hook for at least $37B in spill related costs and God only knows how much in fines and lawsuits. Bankruptcy is a real option for the company, but the stockholders will lose everything.
Initial reports suggest some BP MBA made an awful decision on the Deepwater Horizon that, at least, contributed to the accident that killed 11 men and turned the Gulf into a polluted disaster. So BP isn't blameless according to information released to the public so far. But I'm pretty sure that the investors never intended to make money by killing oil workers or polluting the Gulf. But it is the stockholders who will pay.
This is just another saga in the collapse of the West. Trillions of dollars redistributed without any benefit to society. Just failure on a civilizational level.
Initial reports suggest some BP MBA made an awful decision on the Deepwater Horizon that, at least, contributed to the accident that killed 11 men and turned the Gulf into a polluted disaster. So BP isn't blameless according to information released to the public so far. But I'm pretty sure that the investors never intended to make money by killing oil workers or polluting the Gulf. But it is the stockholders who will pay.
This is just another saga in the collapse of the West. Trillions of dollars redistributed without any benefit to society. Just failure on a civilizational level.
Labels: environment, failure
posted by lugh lampfhota at 8:40 PM
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