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Transcript

American

Dependance on Oil

Two sides of the argument

Dependence on Oil as a Whole

Dependence on Foreign Oil

The Ebb and Flow of Enthusiasm

Centered Around Disaster

A Matter of Convenience

Government Involvement

Past

Present

BP's Role

Creation from Destruction

Reasons

Two prior explosions at refineries are attributed to safety and maintenance errors

Policy of not installing safety devices or correcting problems when it costs more to break down than to protect

BP executives ignored many safety concerns the day of and days leading up to the explosion for cost effectiveness

BP executives wanted to finish and move on to other drilling sites

Column’s cement casing was not at the level recommended for material displacement when pressurizing material was swapped

Unstable pressure existed in the drilling column throughout operations

Battery was faulty in the blowout preventer’s controller

Cutters to sever and block the column within the BOP did not sever through the column

Pieces of rubber from the preventer itself has deteriorated / hydraulic leaks

Blowout preventer had 260 failure modes that would require removal of the BOP

Failure to include an acoustic switch to manually operate the preventer

Any actual attention to the warning signs could have prevented the blow out

Responsibility

Irregular Pressure?

Faulty Concrete?

Ignorance?

Oversight?

Economic Push?

The President

Or...

Do We Blame...

The Corporations involved in the Drilling?

Let’s see what happened when we did just that?

Pointed Fingers

Obama Takes Responsibility

President's Role

Going Forward

Creation of BP Oil Spill Commision

The People of the affected areas

BP

Transocean

Halliburton

Volunteers

You...Me

Should there be federal assistance?

Corporate America runs the world...

So shouldn't they be able to accept the burden of their mistakes and held to a higher standard then that of the consumer?

"With great power comes great responsibility"

"Everyone to whom much was given, of him much will be required; and from him to whom they entrusted much, they will demand the more" -Jesus (Luke 12:48)

But in todays society, we see the constant push to eliminate responsibility by involving other companies or using a third party organization to save money, time, and add another finger to point with.

So finally BP steps up to the plate and accepts full responsibility for the disaster on the Gulf...

And even agrees to pay claims to those affected by the oil spill

Reactions

Positive

BP’s Positive Response

Claims Service-BP Claim Payments Exceed $100 Million

Continued Presence

http://bp.concerts.com/gom/beaches60_062110.htm

Is this enough? Could they ever make it right?

Positive Economic

Forecasted Short Term GDP Growth

In light of recession

Short term GDP lifted at .01%

American disdain for oil drilling

6-month Drilling Moratorium

Negative

$100 Million Payments to Victims

Drilling Moratorium

$20 Billion Relief Fund (BP)

Threat to thousands of species of birds, plants, aquatic mammals, and fish.

Threat to clean-up crews

Coastlines

Increase in price of domestic crude

Increase in price of gasoline

BP devaluation: affects more than just BP, companies partnered, investors, funds, retirees, etc.

Coastal economy

Public Reaction

All out hatred of BP and oil business

Threat to current administration

Public weary of government response

Protection and response

Government

Seen as potential Iraqi War in Obama administration

Backlash Against Obama Camp

Spill initially not believed to be major problem

Slow to react

And now for a history lesson on an energy-independent future...

http://www.thedailyshow.com/watch/wed-june-16-2010/an-energy-independent-future

Blowout Preventer / Back-Up Errors

Judgments That Could Have Altered The Failure Of The Rig

Careless Urgency By BP

How Did We Get Here?

Alternative Energy Options

Oil and the Economy

Why Use Theirs When We Have Ours?

History Of ‘Mostly Working’ Policy Within BP

Oil Spill

Where does the blame lie?

Environmental

Economic

Some say the president is to blame

BP: It was Transocean’s fault.

Transocean: It was Halliburton’s fault.

Halliburton: It was BP’s fault.

Who's job is it to clean the mess?

Corporate Responsibility

Long-term threat to growth in Southern areas

Reform

New forms

of energy

By Jon Stewart

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