The BP Oil Spill – Qui Bono?

Created on Tuesday, 22 June 2010 22:38

[…] Deepwater Horizon was essentially the world’s most technologically advanced, most expensive deepwater drilling rig in existence.  This rig has multiple…multiple safety measures, including advanced “dead man” switches and safeties.  How did this explosion occur in the first place?

Not to mention the political conspiracies that abound. Who stands to make money on this? Who stands to earn favors and treats?  And why can no one on Earth figure out how to stop this arterial bleeding from deep within the planet?  Is this just another footnote in the lead up to 2012? Some might think so. 

Also, think about who stands to gain from the ban on deepwater drilling.  While you might not think that would be profitable, look into the Chicago Climate Exchange and who has ties to that.

Obama can maintain his stance to Republicans and oilmen that he was in favor of expanding off-shore drilling, but we will never truly know because it is now banned. 

Also, imagine those on the other end of the oil industry. OPEC can now charge you even more for gasoline and blame it on BP’s disaster.   All of this, no matter the ‘why?’, ties directly into preparedness. Can you afford gasoline that costs $5.60 a gallon next year?  What if Iran were to be struck by Israel?  Imagine $7.25 a gallon, then.  And if you think that is simply absurd, UK residents already pay close to $7.00 USD/gallon sometimes and have for years!

Regardless, the Gulf of Mexico, the Gulf Coastline and soon to be the Eastern Seaboard are in dire trouble.  Seafood, whole industries and millions of lives now hang in the balance.  Anyway, on to the article:

– Sales of shares and stocks in days and weeks beforehand changed hands in large amounts, including chief executive Tony Hayward who sold 1/3 of his interest in BP to “pay his mortgage.”  Hayward’s yearly salary is 4x his total mortgage.

– Halliburton link, acquisition of cleanup company days before the explosion

– BP report cites undocumented tampering with well-sealing equipment

– Government uses disaster to push for Carbon Tax, Nationalization talk

Troubling evidence surrounding the Deepwater Horizon explosion on April 20th suggests that the incident could have been manufactured.

On April 12th, just over one week before the Deepwater Horizon rig exploded, Halliburton, the world’s second-largest oilfield services corporation, surprised some by acquiring Boots & Coots, a relatively small but vastly experienced oil well control companies.

The company deals with fires and blowouts on oil rigs and oil wells. It was responsible for putting out roughly one-third of the more than 700 oil well fires set in Kuwait by retreating Iraqi soldiers during the Gulf War.

The deal itself is still under scrutiny with Boots and Coots facing an ongoing investigation into “possible breaches of fiduciary duty and other violations of state law”

Where this information gets really interesting is with the fact that Halliburton is named in the majority of some two dozen lawsuits filed since the explosion by Gulf Coast people and businesses who claim that the company is to blame for the disaster. Halliburton was forced to admit in testimony at a congressional hearing last month that it carried out a cementing operation 20 hours before the Gulf of Mexico rig went up in flames. The lawsuits claim that four Halliburton workers stationed on the rig improperly capped the well.

As the New York Times noted on May 26th, "BP officials chose, partly for financial reasons, to use a type of casing for the well that the company knew was the riskier of two options."

Workers from the rig and company officials have said that hours before the explosion, gases were leaking through the cement, which had been set in place by the oil services contractor, Halliburton. Investigators have said these leaks were the likely cause of the explosion.” According to a 2007 study by Minerals Management Service, cementing was a factor in 18 of 39 rig blowouts in the gulf between 1992 and 2006. Another intriguing connection Boots and Coots has to the Deepwater Horizon explosion comes via Pat Campbell, the man BP has employed to cap the well beneath the ruined rig. Campbell worked for Boots and Coots as general manager for many years.

BP has admitted to buying Yahoo and Google keywords in an attempt to control publicly available information in the wake of the catastrophe. It seems that the company is taking all the flack for the spill while the Halliburton link is being roundly ignored.

BP’s prepared testimony briefingwhich has since leaked online, also intriguingly notes that the Hydraulic Control System on equipment designed to automatically seal the well in an emergency was modified without their knowledge sometime before the explosion.

“the extent of these modifications is unknown at this time” states the report on page 37.

Possible prior knowledge of the explosion is also evident via huge dumping of stocks and shares in the weeks and days prior to the incident.

Goldman Sachs dumped 44% of its shares in BP Oil during the first quarter – shares that subsequently lost 36 percent of their value, equating to $96 million.

Other asset management firms also sold huge blocks of BP stock in the first quarterThough the amounts pale in comparison to Goldman’s holdings, Wachovia, owned by Wells Fargo, sold 98% of its shares in BP and Swiss bank UBS sold 97% of its BP shares.

Furthermore, as reported by the London Telegraph on June 5th, Tony Hayward, the chief executive of BP, sold £1.4 million of his shares in the fuel giant weeks before the spill.

In the days before the Deepwater explosion, Obama had announced a new effort to explore and lease new drilling locations in the deep Gulf and in Alaska. In the wake of the disaster, these plans have been canceled and BP is taking a PR bashing. All of which has been capitalized on by the Obama administration to reinvigorate talk of a carbon tax and has created the opportunity to reintroduce the idea of nationalizing oil, which theDemocratic leadership has long sought.

The full story of what is happening in the Gulf of Mexico is yet to emerge, there are rumors of more spills and an ongoing coverup.

The site represents a $2.2 trillion source of wealth and power, a motive along with a plethora of suspicious activity that needs to be investigated further.



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