BP is still unsure of the cause

BP PLC Chief Executive Tony Hayward told a congressional panel Thursday that it's still too early to determine the exact cause of the Deepwater Horizon rig explosion on April 20 and subsequent oil leak, now in its 59th day.



Hayward repeatedly insisted that he "wasn't part of the decision-making" in the drilling of company's stricken well.

Waxman told BP's chief that he wasn't taking responsibility for the accident. "You're kicking the can down the road," he said.




To push aside responsibility is the worst possible thing to do in such circumstances. It's unconscionable.

You are now under much scrutiny from the public and the best thing to do is to take up all the blames and just deal with it. You are no longer hold the prerogative to circumvent on anything. It is now time to fully concentrate on what you did wrong and not try to run away from it.


It's flagrant that someone needs to step up and assure everything that everything is going to be okay. Amidst all these uncertainties, you should put the public at ease and not add up to their uneasiness.

On Wednesday, BP said it will establish the $20 billion escrow fund to compensate victims of the Gulf oil disaster and suspend $7.5 billion in dividend payments this year.


The $20 billion escrow fund does not even match up to BP's annual profit so I suppose it is nothing but a small price to pay. Definitely not a ground-shaking sum of money like what BP has mentioned.


Money can't solve all problems at the end of the day. They can't pay for the lives lost and the marine biodiversity sacrificed at the expense of the oil spill.


It is time to fortify the remaining of their wells before such things happen again.


Credits -marketwatch, -blogspot