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06/17/2010 07:22 PM ID: 84496 Permalink   

Obama Bullies BP to Pay £13.5 Billion, British Pensioners Foot the Bill


United States´ President Obama has bullied British Petroleum into depositing £13.5 billion into a special fund to settle claims as a result of the Gulf of Mexico oil spill.

Recently, shares of BP stock have fallen to a fourteen-year low of £3.37. BP has also agreed to suspend dividends until 2011. £1 in every £6 pensioners receive in the UK comes from BP dividends.

Hostility towards BP over the disaster has been increasing recently. Even U.S. Congressman Joseph Cao has gone so far as to call for BP bosses to commit suicide to atone for this disaster.

    WebReporter: Tetsuru Uzuki Show Calling Card      
ASSESS this news: BLOCK this news. Reason:
  Bias much?  
BP isn´t "British Pensioners," it´s a money making machine that, like every oil company, makes a great big mess. This one just happened to be in the west.

These pension holders are just investors who accepted risk and are no more paying for any bill than are unable to put their money elsewhere.
  by: H. W. Hutchins   06/17/2010 07:36 PM     
  Re: Bias  
No one is saying that BP is British Pensioners, as for bias, I´m not sure if you´re referring to the summary but Tet´s summary is true to its source.
  by: StarShadow     06/17/2010 08:11 PM     
  Daily Mail?  
Should this even be a source? It´s a supermarket tabloid and clearly biased. I rarely see anything sensible from them.
  by: d-man   06/17/2010 08:34 PM     
What? Its from the UK (hence the .uk part) and so therefore it is always true!
  by: nimira     06/17/2010 09:14 PM     
  I have no sympathy for British Pensioners...  
If they invested in a company that runs this slipshod and causes this much destruction to the environment they should be forced to come to the gulf coast and clean this mess up or quit bitching. I lay part of the blame at their feet. I can only hope most of this oil finds its way to England and washes up on the beach of their ocean front homes.

I have even less sympathy for the executives of BP, suicide is too easy, public executions are in order. This is terrorism on an unheard of scale. The bulk of the oil hasn´t even hit the beaches yet and it is still flowing wildly. The destruction to the ocean habitat can never be measured. The chain of ´failures´ of the safety systems that led to this disaster is inexcusable. I don´t think Obama went far enough. He should use his powers over terrorists to jail the CEO of BP and hold him incommunicado indefinitely, that would be a proper use of that insane Presidential power.

I am glad to see Obama doing something, it´s much more refreshing than watching Dubya eating birthday cake at the ranch while New Orleans sinks into the quagmire.

Bend´em over Obamanator and make them scream, "Drill Baby Drill!", at the top of their lungs.
  by: valkyrie123     06/17/2010 09:20 PM     
  British Pensioners Foot the Bill  
If this is true then "British Pensioners" were profiting by British Petroleum´s behavior that lead to the spill and loss of lives and the damage to United States businesses and industries with the loss of United States jobs that went with these. Is it OK to take the profit without the responsibility? I do feel the so called "Pensioners" were wronged. Wronged by British Petroleum. It is time for their Prime Minister to go after British Petroleum to recoup their damages.
Sorry folks, this is British Petroleum´s profit decisions that lead to this, this is British Petroleum´s financial responsibility.

  by: ichi     06/17/2010 09:36 PM     
So there are people who think there´s some acceptable way of addressing the damages that does not involve BP paying for what it did?

Can you say, "BP Bailout"? I knew you could! I guess I shouldn´t criticize conservatives for reflexively defending Big Oil -- they´re just so used to it -- but come *on* ...
  by: Ben_Reilly     06/17/2010 09:36 PM     
Put down the LSD, because you´re hallucinating... bad.

"I guess I shouldn´t criticize conservatives for reflexively defending Big Oil -- they´re just so used to it -- but come *on*"

I don´t see a single comment from a conservative defending BP for the spill.

Be careful with those hallucinogenic drugs... they´ll make you see things that aren´t there. And you *do* know where those mushrooms grow... don´t you?

"Can you say, "BP Bailout"?"
My mouth can put those words together. But I *can* say "Lazy azz ineffective Obama".
He needs to put down the 9-iron, postpone his concerts, and get to work. Just giving a speech and saying, "I´m angry" isn´t going to get anything cleaned up. Excercise your authority granted by the Oil Protection Act and start producing results.

Jimmy Carter is happier than a fat boy in a candy factory right now because he´s no longer viewed as the worst president ever.
  by: CArnold     06/17/2010 09:53 PM     
You mean the ´authority´ that he is already using to try to tell BP to stop dragging their feet, and that if he used more of people would rank a stink about what a ´communist´ he is?
  by: velger   06/17/2010 10:30 PM     
  Missing the Point  
I think people are missing the point. BP is shifting the financial liability by halting dividends to retirees rather then paying it out of its general fund, and Obama is backing this move. BP is an evil corporation, and in cahoots with the Obama administration (Who hopes to use the spill to pass Carbon legislation).

I am a cold hearted individual most of the time, but even I feel sorrow for these pensioners. These are not scum who don´t deserve their money. They worked hard all their lives to have a pension to survive on, and this company spits in their face, while Obama smiles as he considers all the tax money he can get out of this opportunity to funnel to his bankster friends (Who by the way own most of BP).
  by: Tetsuru Uzuki     06/17/2010 10:37 PM     
I wasn´t talking about SN conservatives, but rather the idiot Republican leadership that can´t seem to realize Americans want BP to pay for this disaster. John Boner being one of the more prominent ones, but Rand "Whites Only" Paul seems rather enamored with BP as well.
  by: Ben_Reilly     06/17/2010 10:41 PM     
So you think the President of the United States should be able to tell a British company not only that it has to pay for this mess (which is fair, obviously), but *how* it has to pay for this mess?

Obama can go -- "No, don´t pay us from that account, you can only pay us from that *other* account."

Wow, you´re all about government control. Wouldn´t have guessed that from ... practically everything else you´ve ever written here.
  by: Ben_Reilly     06/17/2010 10:44 PM     
  @ disaster  
Reflecting on this disaster, I was wondering when the day will come where the families of dead Iraqi civilians, and all the Iraqis affected by the war would be able to sue the US, and claim back for all what they´ve lost.

I find it slightly ironic, that the US caused a disaster in Iraq for having a good oil source, and now oil hunts them back ;p
  by: trynix   06/17/2010 11:30 PM     
That´s capitalism folks!
The `company´ screws up, and the people actually responsible (CEOs/etc) for any screw-up don´t even get a slap! EVER!

It´s the biggest scam in the history of scams. They get all the profits, and none of the responsibility.

Are you fed up with this whole stupid idea of capitalism yet? or are you too brainwashed to realize how terrible it is?
  by: deadmeat     06/17/2010 11:54 PM     
What´s your solution/alternative?
  by: vhan     06/18/2010 12:08 AM     
Nice spin.

However I assure you I´m still the same government hating guy I´ve always been. Well not really, I used to be an anarchist and hate everything and everyone not just the government. Thats a story for another day.
  by: Tetsuru Uzuki     06/18/2010 12:09 AM     
Because there are so many other great alternatives to capitalism...

Capitalism has upped the living standard of the western world by so much it isn´t funny.
If you can´t see that then you can´t see anything.
  by: pexa02   06/18/2010 01:23 AM     
An Intellectuall Oragarchy, and a equity based system.

or we could simply put a cap on wealth, control more than say $10mil and risk execution and confiscation, thus it would encourage successful people to invest in ventures that are less profitable but with positive community results.
  by: veya_victaous     06/18/2010 02:00 AM     
  Obama´s response  
I´m sure he will just send all of them a DVD boxset because we all know how simply amazing Obama is with foreign relations!

If it was an middle eastern owned platform he would be compensating them for the loss of their platform.
  by: moxpearl   06/18/2010 02:07 AM     
What a fantasy world you live in. LOL I´m glad I have no part in it.
  by: Lurker     06/18/2010 04:05 AM     
  @ veya  
Sadly no such utopia is achievable.
  by: vhan     06/18/2010 04:38 AM     
  Better late than never  
I´m gald Obamab finally got of his @ss and started doing something.

I do feel bad for the pensioners though, you dedicate your life to a company and in a split secon they smoke your rewards.
  by: jhax   06/18/2010 07:49 AM     
You know that Americans hold 39% of BP stock right? This isn´t limited to the British in anything other than where it´s headquarters is located.
  by: Fiebre   06/18/2010 03:09 PM     
Why were they bullied? This news report seems skewed against America. What happened to being a responsible company and correcting wrong doing. If BP was truly bullied into paying 13 billion, perhaps that shames them even more since they clearly think it´s okay to make a historical disaster of the gulf.
  by: vex   06/18/2010 06:19 PM     
  I too feel sorry for the pensioners,  
but all investments imply risks. In an unhindered market, this event would trigger a devaluing of oil related stocks that would slowly regain value as risk analysts evaluated safety policies and procedures, benefiting not only future investors, but the rest of the world as well. The more we insulate BP - and its investors - from liability, the more this natural correction is stymied.
  by: jenkie     06/18/2010 07:05 PM     
>>If they invested in a company that runs this slipshod and causes this much destruction to the environment they should be forced to come to the gulf coast and clean this mess up or quit bitching. I lay part of the blame at their feet.

Are you serious? If so, where are all Americans cleaning up the environmental damage their nation has been and still is causing to the global environment? The US is still by far the worst per capita environmental polluter on this planet.

>>This is terrorism on an unheard of scale.

So you are saying that the US has been terrorizing the entire planet through polluting it like nobody else? Never thought of it that way - but I´ll go with it for now. By your own anti terror law this means that the US army should take the "war on terror" to America an execute all Americans. I am sure you will find people who like that suggestion of yours.
  by: scrut999   06/18/2010 07:14 PM     
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