The $20 Billion Good For Nothing Fund That BP Created...

Absolutely disgusted when I read Yves update in her posting: BP to Create $20 Billion Fund for Leak Damage

• ..Update: This comment came via e-mail from former oil industry employee Glenn Stehle:
  
  The outcome of Obama’s meeting with BP was an incredible disappointment. After all the tough talk, the end result is that Obama came away with what the little boy shot at.
  
  According to the NY Times, “the oil giant will create a $20 billion fund to pay claims.”
  
  But here’s the kicker: the preliminary terms of Obama’s agreement with BP “would give BP several years to deposit the full amount into the fund so it could better manage cash flow, maintain its financial viability and not scare off investors.”
  
  So BP is allowed to live while the Gulf dies.
  
  The tragedy is that the people on the front lines of this battle don’t need money and resources in a month, or six months, or in “several” years. They need the resources now.
  
  Could St. Bernard Parish President Craig Taffaro have made it any clearer? “Just like he [Obama] referred to WWII and putting a man on the moon, those operations were successful because there were equipment and resources provided to make those missions successful,” Taffaro spelled it out for the President. “That’s what we need here in the Gulf Coast Region, enough resources and assets so that we can make this a successful fight against this oil spill.”
  
  But BP, a company who generated $27.7 billion in cash last year and paid out $10.5 billion in dividends, is allowed to diddle, given years to come up with $20 billion.
  
  “Let’s get serious about this,” Tony Kennon, Mayor of Orange Beach, Alabama pleaded. “I feel like sometimes we’re in the Land of Oz. This is a catastrophe of Biblical proportions, and we’re acting like it’s an everyday, run-of-the-mill oil spill. It is time to attack the problem and fix it offshore.”
  
  But apparently Obama learned nothing during his well-publicized tour of the Gulf Coast region yesterday. At least he didn’t listen to anything the guys in the trenches had to say. BP should “not be in a position where they can have power to veto anything,” Taffaro counseled. The government “should be able to force the issue here, and that’s where the breakdown has come in.”

Yes, I am disgusted at how Obama is managing this disaster. TOTALLY DISGUSTED!

yeah... capitalism... lives on... yet again!

What about these wildlife?

Do read the opening passages of this posting: We Must Remove BP from the Crime Scene and Let an International Team of Experts Fix This on BP's Dime

>>>>>>>>>>>>>>>>

BP was criminally negligent in drilling the well which blew out. See this, this, this, this, this, this, this, this, this, this, this, this, this, this, this and this.

It has bungled everything it has done since. Indeed - as discussed below - it has made things worse.

And BP has tried to cover up its blunders by lowballing the spill estimates, keeping reporters out of areas hardest hit by the oil (and see this, this and this) and threatening to arrest them if they try to take pictures, hiding dead birds and other sealife, telling cleanup workers they'll be fired if they use respirators, and using dispersants to hide the amount of spilled oil (the dispersants are only worsening the damage caused by the spill).....

do read rest of the posting here

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Selected pictures from msnbc slideshow: here

Oil slicks move toward the beach in Gulf Shores, Ala., Saturday, June 5. Oil from the Deepwater Horizon disaster has started washing ashore on Alabama and Florida beaches.



Plaquemines Parish coastal zone director P.J. Hahn lifts his boot out of thick beached oil at Queen Bess Island in Barataria Bay, just off the Gulf of Mexico in Plaquemines Parish, La., on June 5.



A worker cleans up oil in Plaquemines Parish, La., June 4.



A bird flies above oil in the Gulf of Mexico off of East Grand Terre Island along the Louisiana coast on June 3.