Papantonio: Where are BP's Pals - Exxon, Chevron, and Shell? - Pt. 1/2

[GoLeft TV]

Run time: 06:34 https://www.youtube.com/watch?v=wKEQm1_i7tA   Posted on YouTube: May 10, 2010 By YouTube Member: golefttv Views on YouTube: 178   Posted on DU: May 11, 2010 By DU Member: GoLeft TV Views on DU: 503

 
BP's most recent containment plan for the Gulf of Mexico oil spill turned out to be a failure. With no immediate viable options remaining, the company has now thrown their hands up and is actually asking the public for their input on how to contain the leak. Meanwhile, the clean up vessels of Exxon, Chevron, and every other major oil company in the U.S. are sitting parked in harbors, and not helping to contain the oil leak. Mike Papantonio appears on The Ed Show to tell us why these corporations are just as culpable as B.P. in this oil leak.

[JDPriestly]

1. I woke up this morning with the horror of this leak on my mind.

And I had the same thought that Papantonio expressed: why isn't that area surrounded by tankers from the entire world with pumps sucking up that oil?

I am wondering whether BP is claiming a proprietary interest in the oil and is unwilling to let other companies touch it.

Also, the other companies probably think that the price of oil is going to skyrocket in the aftermath of this spill, so they want to keep their as much capacity for transporting oil as they can.

Another possible explanation is that other companies want waivers of liability and indemnity agreements and all kinds of guarantees from BP, the U.S. government, the governments of area states and other involved before they are willing to go in.

[subsuelo]

2. It all amounts to a major indictment against capitalism

[JDPriestly]

3. Against capitalism as practiced.

It does not indict all of capitalism. My small, local grocer is an honest businessman. Does he make a profit? Yes. If corporations want to become so huge, they must submit to strict, comprehensive government regulation.

Regulation is so important because of the "get ahead, get promoted" dynamic in the corporations. The most careless person gets to the top because that person will show the best short-term results.

There is a Spanish film called "The Method." It shows how the process of promotion works in big companies. It shows it in sort of symbolic, boiled-down form.
It is quite worth watching.