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Market Oracle FREE Newsletter


British Government Defends BP

Politics / Environmental Issues Jun 12, 2010 - 03:48 PM GMT

By: Michael_T_Bucci


Judging the British reaction to the Gulf crisis, the Conservatives have now redefined the stakes beyond those of BP market capitalization losses. As one wire-service headline framed it: "Britain sticks up for BP". Comments left at British sites show anti-Americanism new to an otherwise friendly and allied relationship. The British press has whipped America for Obama's clumsiness, bad language, poor diplomatic skills and histrionic threats; while the British nation seems perfectly groomed, if I am to believe the media, to identify themselves with BP, a private corporation.

Messrs Cameron and Osborne have defended the corporation, the stake-holders and the market capitalization value of BP. Reuter's headline, “Britain sticks up for BP” is a maliciously misleading one. Unless one hears otherwise from a majority of people in Britain on the subject, the headline correctly should read, “Cameron boosts BP shares”. Am I to believe the Conservatives will defend the banks and corporations above the people's welfare, livelihoods, property rights and ecology in Britain too, should BP oil flow into the Thames? Or is this sudden British nationalism just over pride, or from being insulted by Washington? Or is it a way to distract the British people from coming austerity measures that will drain their livelihoods like BP oil is now draining the lifeblood out of the Gulf Coast? Even in America Inc., few would identify and confuse their country with Exxon-Mobil. Have the Conservatives accomplished this task of privatizing the nation through creating mass allegiance to BP? If so, I'll conclude Britain Inc. is far ahead of America Inc.'s Conservative pack - and achieved in record time, no less!

Secondly, if corporations, the wealth sector and British press did pressure Cameron to publicly defend BP to cause its stock price to rise, as Reuters claims, this group does not constitute the “people” of Britain; yet Cameron implies as much. Are the people of Britain to be gauged by newspaper headlines, editorials and Government statements? I would reserve judgment; but think the British are much smarter than Murdock and Company would like you to believe.

If Cameron and Osborne are so inclined to defend BP’s capitalization value in the name of the British people, then maybe together they can defend it best by finding money to help fix the problem rather than by driving a wedge between two nations (and this applies to Washington). But Britain is now Conservative and America will need to wait at least until November to become like-minded (so think the Republicans).

Meanwhile, the oil flows, the market speculators make profits, the ecology dies, the people become sickened and poisoned and ... and the entire Florida and East Coasts sit on death-row awaiting word of a reprieve.

Politics and nationalism will not solve this crisis, and are only making matters worse.


By Michael T Bucci

Michael T Bucci is a retired public relations executive from New Jersey presently residing in New England. His essays have appeared at Market Oracle and Global Research. He is the author of nine books on practical spirituality including White Book: Cerithous .

    © 2010 Copyright Michael T Bucci - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


13 Jun 10, 20:24
In the name of Mammon, and Megalomania

In the name mammon and megalomania is what has happened. We can talk around the issue all we want. BP understood full well the risks. They knew them well enough to take out a three hundred million dollar insurance policy on hundred and fifty million dollar oil rig. They new full well to pay off anyone who knew they were in over their heads.

The government and big business are one and the same now. They call us to privatize the public sector. This means the public pays the private sector out right to do business. This is corporate socialism. The top 5% take it all.

Environmentally, the public must lose in its health, its wealth and prosperity. If they take a stand, they are called Eco- terrorists. The irony is the ruling classes is waging an economic and environmental war against the people. The talking heads well tell us they will clean it up- no problem! There is no way to clean it up and the people will end up paying for everything as sure as we paid the boys on Wall Street for their graft, fraud, theft and plundering.

Politics of the people like in the 1960's is everything. The snakes, the red carpet crowed must be chased to the sea and de- fanged. We can talk either in the tangled language of the elites or the clear language of the truth. When profit, and greed rule the land, the people die and suffer at the hands of the few. The few who would rather forsake the generations to a horror so they can count numbers and defaecate into gold toilet bowels.

For the people we must think in important matters diversity - in crucial matters unity. UK. Co or America Co must go and The People. Org must rule.

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