Comment

BP Makes Deal to Set Up $20B Fund

296
Sand Panda6/16/2010 11:12:44 am PDT

Preface: I’m British and I’m not in the slightest bit personally offended by people referring to BP as British Petroleum. However considering that after the 1998 merger with Amoco it has effectively been an Anglo-American company for over a decade, and known simply by as “BP”, to me the emphasis on “British” seems like a cynical, blame-shifting ploy.

BP employs 80,300 people worldwide, of who over a third are US citizens. 39% of its shares are held in the US (40% in the UK). Equally, the rig itself was owned and operated by the US firm Transocean. BP had a 65% share in the well, while a US companies like Anadarko (25% share) split the rest. A failed blow-out preventer was made by US firm, Cameron, while cement work that was supposed to seal the well was carried out by US firm, Halliburton.

My point is not that it’s offensive, but that people are cynically playing politics with the situation.