Spinning Fault For The Gulf Oil Disaster

The name of this blog is perfect for the Oil Companies. Mortal Spin. Because it hurts us mere mortals just listening to the spin from the Oil Companies associated with the Gulf Oil geyser. Here you have BP, Halliburton, and Transocean testifying in front of a Senate committee blaming each other. Oh, and by the way, they were also blaming the government regulators for things that might have caused the explosion of the rig.

Executives of the three companies involved in the Gulf oil disaster — BP, Transocean and Halliburton — testified before senators Tuesday and were quick to lay blame elsewhere.

In their opening statements, the executives said it was too early to draw conclusions but then explained what they thought went wrong and who was responsible.

Transocean, which owned the rig that exploded, suggested work done by subcontractor Halliburton could have been the key factor. Halliburton and BP, meanwhile, said the blowout preventer that failed on Transocean's rig was critical.

So here is the straight talk on the players. Transocean is the owner of the rig that exploded. BP is the company that leased the rig and actually drilled for oil. Halliburton is the company that BP hired to encase the well pipe in cement before plugging it. All 3 companies are involved deeply in this incident, and no one is taking the blame. We love the spin here.

I hope that each of these 3 companies are fined to the fullest extent of the law. I also hope that congress decides to pass even higher fines for companies that violate safety regulations. I am glad that the government has decided to split the Mineral Management Agency in two. One section will be responsible for collecting the over $10 Billion in taxes from oil and gas drilling. The second will be responsible for enforcing laws and regulations for oil drilling. Finally, something smart coming out of the government concerning this incident. We know that they haven't figured out to hold the big oil companies responsible for this yet. And we absolutely know that they haven't got a clue on how to end the geyser of oil that is dumping into the gulf each and every day. So, at least we get one minor good thing out of this.

As for each of the companies involved in this fiasco, the federal government needs to make a point of inspecting these companies and their dealings fully over the next year to see if there is another situation which could cause devastation like this is doing. And if there is, shut the son of a b**** down and start making it extremely difficult for the company to do business in America.