End of the road for British Petroleum?

I for one hope not. Regular visitors to this blog will already know about my fascination with BP and the oil spill in the US. My reactions change with each grisly news snippet and I have to confess to being fascinated by the circus around the whole affair. Picture the scene: first we have Barrack Obama trying to find an “ass to kick”. Then we see the front man, Tony Hayward, hauled before a Committee to explain what BP did or didn’t do. Whilst the gentlemen entertain themselves in the boxing ring trying to find out who is to blame, the oil simply keeps spilling.

Recent news has taken a different turn. There is talk of removing the entire board once the spill is cleaned up. BP’s share price has fallen. Behind the scenes, the oil companies are trying to work together to find a solution. And along the way, while everyone is blaming everyone else, we are missing a trick.

Surely the reason BP (and other oil companies) are drilling so deep and so dangerously is to meet demand? At what point does ethics override profit? Is it at the point where the risk is so great that a responsible business would stop drilling? Or is it simply a case that risk wasn’t properly managed? I am interested to find this out in the fullness of time. In the meantime though, isn’t it just a little ignorant and arrogant of us all to sit on the sidelines and judge what we perceive as inappropriate behaviour? Aren’t we still craving fuel to drive our cars, heat our homes and generally find our way in life? At what point do we, as individuals, start to recognise that it is our ceaseless demand for these rich natural resources that is driving this industry and, until that changes, it’s pretty difficult to blame everyone else. Let the buyer beware.

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