BP Dividends Forthcoming

tony hayward Tony Hayward is a 53 year-old with no visible gray hair and is CEO of the corporation once known as the Anglo-Persian Oil Company, which turned its first owner’s primitive accumulation of stolen Australian gold into a half century of stealing Iranian oil, capped by advocating the U.S. overthrow of the democratically-elected secular-democrat Iranian Prime Minister, Mohammed Mossadegh.  Tony would just like his life back.  He feels quite put out these days, it seems.  The champagne on the corporate jet just doesn’t have the same sparkle it should.

The proper British word for Hayward is, I believe, git.

But, as always, the system is larger and more imposing than the gits it attracts to run it.  As Chomsky always says:

The chairman of the board will always tell you that he spends his every waking hour laboring so that people will get the best possible products at the cheapest possible price and work in the best possible conditions. But it’s an institutional fact, independent of who the chairman of the board is, that he’d better be trying to maximize profit and market share, and if he doesn’t do that, he’s not going to be chairman of the board any more. If he were ever to succumb to the delusions he expresses, he’d be out.

Hence, the news that BP is planning to proceed with its normal dividend payout.  $10,000,000,000.

Orwell Was an Amateur

henhouse The things that happen in market totalitarian America simply couldn’t be imagined by the greatest of dystopian fiction writers.

To wit:

The Interior Department’s Mineral Management Service has postponed a Monday safety awards luncheon at which a nominee for two awards was BP — which operated the oil rig that sank in the Gulf of Mexico, threatening an unprecedented environmental disaster along much of the nation’s Gulf Coast.

The awards ceremony recognizes “outstanding safety and pollution prevention performance by the offshore oil and gas industry.” BP was nominated for its work on the outer continental shelf.

The big winner of last year’s SAFE award was Transocean, the owner of the Deepwater Horizon rig that exploded last month under BP’s management. BP was also a finalist at the 2009 conference.

And this:

BP’s Awards Page

And, of course, this:

BP, the company that owned the Louisiana oil rig that exploded last week, spent years battling federal regulators over how many layers of safeguards would be needed to prevent a deepwater well from this type of accident.

One area of immediate concern, industry experts said, was the lack of a remote system that would have allowed workers to clamp shut Deepwater Horizon’s wellhead so it would not continue to gush oil. The rig is now spilling 210,000 gallons of oil a day into the Gulf of Mexico.

In a letter sent last year to the Department of the Interior, BP objected to what it called “extensive, prescriptive regulations” proposed in new rules to toughen safety standards. “We believe industry’s current safety and environmental statistics demonstrate that the voluntary programs…continue to be very successful.”

oil bird