The Coalition of the Swilling

Unbelievable. Irresponsible.

As a libertarian leaning kind of guy, I hate government intrusion into almost anything, but I've worked in industry long enough (it only would require a few days though) to know that if it weren't for OSHA and the EPA a lot more people would be getting maimed and killed and horrific environmental disasters would ensue.

This is one reason I don't get too upset at the decline of nuclear energy. Yeah, sure, when they build the place and when it's managed properly nothing bad happens. But human institutions are subject to entropy and will inevitably decay and rot. This goes for asphalt roofing factories where I used to work, as well as for oil pipelines and nuclear reactors.

The only things to prevent this in the short term (decades) are inspections, and the fear of imprisonment of responsible individuals who should not be allowed to hide behind a corporate shield.

In the long term (centuries), disasters are inevitable. Oil spills can be cleaned up. Let's hope we never have another Chernobyl in this country.

"You think, with the price of oil the past two years"

While I agree with your general points, don't make the mistake of thinking increases in oil costs are pure profit. From my understanding (and granted it is limited), oil companies have only made money because of increases in volume, not price per unit.

I.E. $1 profit on 100 gallons is less than $.50 profit on 400 gallons (per gallon).

Still, if all I do in life is transport oil, I'd make sure the transportation methods are up to snuff.

Oh, and I make it a daily habit to peek at my pipe.

Although we may be talking about two entirely different things...

Well, darlin' Robb, when they report ten BILLION dollars in 'profit' like Exxon did, they could spare the change to Rustoleum the pipeline. ESPECIALLY as that maintenance itself is a write-off.

And I don't think so ~ things flow, it works. It gets crusty, rusty and decrepit, then it hurts and you'd better get it fixed. So no. They're the same.

Again, I agree with you it's just that increased oil prices don't translate into pure profits.

10 billion would buy me a few of those Bugattis, though.

Personally, I think it's criminal to run a business that bad.

We're the ones paying for this retail. If they get fined out of the wazoo, the government ought to return it to the taxpayer, every last dime. (And like Mike, I'm no fan of that sort of thing, but this is direct cause and effect; in any case it's better than the gummint keeping it, where it becomes a new program that has to be "maintained" after the one-time influx of revenue has been exhausted.)

I'm afraid I'll also be casting a jaundiced eye towards the next touchy feely 'what an oil company should do is love the caribou' BP commercial I see.

Assuming it's down for for 90 days, 400,000 BPD and a profit of say $30/B, they're out a cool Billion.

Somebody give those managers a clue.

Or maybe they need some better engineers. Where can I send my resume?

" . . . crusty, rusty, and decrepit. . ."?

Sheesh. I've never met Major Dad, and I already think I know too much about him.

Who is this person who's stolen our Mike?

I already think I know too much about him.

This from the expert on wet wipes...

Crusty ones, at that.

Who is this person who's stolen our Mike?

Keep him! We like the pod person better!!

Sheesh...if it's not one pencil neck it's another. And Mikey, to think I stand up for you from time to time. I got your crusty right here.

I'm a bit late on this thread, but deferred maintenance on major infrastructure is the rule, not the exception. While not an exact parallel, much of our highway system is in the toilet, especially in the cities where traffic is very high. Politicians (and managers and/or CEOs) are happy to cut corners for short term gains, thinking that they'll never be the chump left holding the bag.

Odds are that there are a large number of blue collar workers in BP who saw this coming, and a fair number of junior staff as well. But it's funny how senior management can turn willfully stupid when it comes to budget cuts.

Wait till they try and find enough "skilled" pipe welders to fix this mess. Those guys don't grow on trees and they are going to have to pay them, a lot.