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Thursday, April 21, 2011

Time For A National Boycott of British Petroleum - Bp

British Petroleum, Bp - Oil Bad Guys
April 20, 2011 marked the one year anniversary of the Bp oil spill in the Gulf of Mexico. Scientists are still unsure of the long-term impacts to the environment. Not all of those effected by the oil spill have been paid. Bp continues to spend millions on a PR campaign to make us all feel better. The facts are simple. Bp's greed led to the largest oil spill in history. It's time for a national boycott of British Petroleum, Bp

PBS rebroadcast a FRONTLINE report on the anniversary of the disaster in the Gulf titled, The Spill. The report was first aired in October of 2010 and it delves deep into the possible causes of the Deepwater Horizon oil spill.

Some of the facts contained in the report show Bp's aggressiveness with deep water drilling in the Gulf. Since deep water drilling was opened up, Bp has installed over 100 wells, more than 25% of all the wells constructed by Bp competitors.

FRONTLINE showed how Bp has a history of safety violations and a poor maintenance track record on its operations. A massive Bp spill in Prudhoe Bay Alaska could have been prevented if Bp performed even minimal preventive maintenance on its pipelines. There are more leaks in Bp's pipes and more spills in its past. Watch the FRONTLINE report for all of the details.

What happened at the Deepwater Horizon well is vastly different from the Exxon Valdez spill of 1989. More than 90% of the problem with the Exxon Valdez was operator error. The men running the ship messed up. It was not a corporate wide culture of negligence. It was a serious accident, but it was an accident.

Deepwater Horizon well explosion
Bp, on the other hand, has shown a corporate culture that is solely focused on profit. Corners are cut. Relentless expansion means that safety measures and operational testing are not performed properly.

Bp continues to not take full responsibility for its actions. On the anniversary of the Deepwater Horizon spill, Bp filed a $40 Billion suit against the rig maker and another suit against the blowout cap maker - blaming them for the disaster. However, in the FRONTLINE report, Bp directives and cost-cutting measures set the stage for the historic oil spill.

None of the oil companies play fair. They try to get away with whatever they can, including paying their taxes. But Bp has emerged as the company wearing the biggest black hat of the bunch. And it's time we fight back.

As citizens, we can vote at the polls. All that does is put a different group of people with similar silly ideas and excessive spending habits in charge, differentiated only by the animal that represents their respective parties.

What we are left with are the votes our dollars represent. So, I'm calling for a NATIONAL boycott of British Petroleum - Bp.

Our markets are driven by supply and demand (and speculators). If no one goes to Bp stations, they will have to drop their prices. This whole $4 per gallon gas is a farce, too.

There is no shortage of oil and Libya has NOTHING to do with oil prices. In a previous post on Why Are We Attacking Libya? I wrote:

Libya only produces less than 2% of the world's oil supply. According to a report on Bloomberg Television in February 2011, Libya produces 1.6 million barrels a day. OPEC has what they call spare capacity; that amount is 5.2 million barrels a day. All of Libya's production could be halted and the OPEC spare capacity would absorb it on the open market.
Oil prices are rising for the same reason they rose the last time - Speculation in the Wall Street Futures Market.

I used to trade futures. How the market works is based on emotional reactions to news around the world. Experts and analysts with real numbers do impact the market, but on low volume trading days, the speculators move in and manipulate prices. A single news item of little consequence to the overall market can cause a spike in oil prices.

It's kinda like seeing a cloud and then telling everyone they have to buy an umbrella, even though rain is not forecast. Price action is governed by emotions.

There has been no interruption in oil production that should be causing this rise. I've heard that some plants are not operating now, but WHY? Is that being done just to drive the price up?

Well, let's start fighting back and begin with a National boycott of Bp. We have no other options, other than to pay up and bitch.

To accomplish this, it will take effort from everyone, especially YOU. There are buttons at the bottom of this post. Post it to Facebook. Share it on Twitter... and use the hashtag #boycottbp in the post - we're not alone. There is also an email button at the bottom - email this to 10 friends. I'd love to see it recycle back to my inbox.

I'm freakin' tired of the government blowing our tax dollars, global markets giving us inferior products, jobs being shipped overseas AND the high gas prices.

We have to start somewhere. So, join the movement - A National Boycott of British Petroleum - Bp.

It beats sitting on your ass and complaining.

PBS FRONTLINE report, The Spill

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  1. BP has stations out where I live and they are privatly owned and If I buy my groceries at Bi-Lo for every 40-50 dollars I spend, I save 5 cents a gallon and that build up after a while and the last time I was at the pump, I paid $1.00 less per gallon. I do NOT agree with this boycot because it also hurt the Private owner who is NOT employed by BP. The oil spill hurt alot of people and there are alot of people that got involved in this and made it worse that it should have been - I say lets boycot obama, he is the one that is preventing oil being drilled in the eastern gulf, unless you are Brazil and want to drill there, they can drill all they want, thanks to obama.

  2. I completely understand your comment about hurting the independent owners. I've thought of that.

    I really don't think this blog will compel anyone to act. People live the way they want to.

    What is funny, though, reports of gas stations not selling enough gasoline to take their usual shipments. Hmmmmm... sounds like demand is down... supply is up.... price should.... GO UP???????


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