Everyone knows that BP owned the oil rig that spilled
hundreds of millions of gallons of crude oil into the Gulf of Mexico. BP’s top dogs were replaced, millions of dollars
were spent on a cleanup, and BP now likes to advertise about the several
billions of dollars it has paid out in individual claims. Now, the Federal Government is adding another
$4.5 billion in criminal fines and suspending all government contracting with
BP.
COMMENTS:
That may sound pretty steep, but British Petroleum has a
long and sordid history of bad environmental practices and disasters in its
legacy, not only in oil production but also in natural gas, chemical
manufacturing and mining. Historically,
it never cleans up after itself until forced to do so by court action. In 2009, before the oil spill disaster, BP
made $14 billion; in 2012, after the
oil spill disaster, profits are estimated at over $21 billion. The fines and damages paid literally amount
to less than a tap on the wrist when compared to the mountains of muck it has
left behind in every country of the world.
TODAY’S QUERIES & ANSWERS:
Q. Obama has made it obvious with his ridiculous plan to
deal with the fiscal cliff that he just doesn’t care. What do we do now? (Marcus ~ Arcadia, CA)
A. Don’t be so dismissive.
Obama won reelection and he now has the power. He intends to get everything he asked for in
this proposal. The liberals who voted
for him will see that he wins his way.
Right now, he’s the bully in the kindergarten playground and no one can
stop him. Well, maybe George Soros could
stop him, but he’s so busy right now salivating over the prospects of the U.S.
government collapsing under its own weight that he’s simply beside
himself.
Q. What happens if they don’t reach a deal to solve the
so-called “fiscal cliff?” (Chelsea ~
Ukiah, CA)
A. They’ll reach a deal; neither side wants to be seen as
guilty of not reaching a deal. My
prediction, however, is that they will punt.
Look for another six months delay and keeping things the way they
currently are.
Q. Will a national lottery cure what ails us? (Phillip ~ Redding, CA)
A. The fundamental problems would remain, being that we are
spending more than we are taking in and are therefore in horrible debt. Until you change those bad habits, nothing
can save us. And, a national lottery
would hurt state lotteries. If you want
to know what the politicians would do with lottery money, just look at
California which started its lottery to pay for better education for
students. The money generated has been
siphoned out of the education fund to pay for general fund expenses and the
state is in the deepest fiscal hole ever
created by any state.
TODAY’S QUOTE:
“I’ve done the
calculation and your chances of winning the lottery are identical whether you
play or not.” ~ Fran
Lebowitz
TODAY’S VIDEO: (Racist
football…)
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