Should the U.S. government freeze BP's assets since they say they will not pay for all of the damage?
they have done in the Gulf. Capitalism will not work if they are able to shift the costs of drilling for oil to innocent victims. If BP cannot pay, they should be forced into bankruptcy as a warning to other operators that may want to cut corners. There was better technology available that they use in the north sea and they chose not to use it in the Gulf.
For those that did not listen to BP they have said that they will pay for the remediation and the clean up, but not for what they called ripple effects. That is the loss of work and fishing and oysters that will come of this.
Here is the President of BP saying he will not pay for all of the "ripple effects".
- dnafairyLv 710 years agoBest Answer
Yeah let's freeze the assets of a UK company. See how the Brits like them apples.
- AMessLv 410 years ago
Last I checked, BP was taking responsibility and cleaning everything up. They admitted that while the equipment wasn't their own, they took responsibility for the vendor they contracted. In short, they were in charge and they're dealing with it.
That said, the government needs to stay as far away from business as humanly possible. Our government isn't made up of economic geniuses. They don't have a clue how to run a business. If they stepped in, it would take quadruple the time to clean it up and bankrupt BP to the point where taxpayers would once again be cleaning up another company's mess.
- Anonymous10 years ago
They will pay. The clean up costs will hurt the bottom line, but it won't make BP bankrupt. They may try to avoid paying what the government says they owe, but the courts would probably force them to do it.
- ?Lv 610 years ago
When did BP say they would not pay for all of the damages?
If so, they should not be allowed to operate in any US land or seas.
I read where Halliburton provided much of the drill and well components, so maybe we should be investigating Cheney's buddies.
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- smsmith500Lv 710 years ago
When did they say that? last I heard they had taken full responsibility for the leak. And the costs of cleanup will be added to the cost of doing business. Just as any government cost will use our taxes to cover it.
- HATE MALELv 510 years ago
last article i saw, it just said the gov't was going to raise the cap on liabilities for BP to pay. total cost could be over $20 billion.
- Just JessLv 710 years ago
BP said they would pay for the damage. And they're pulling their weight cleaning up the mess.
Guess this is how we reward them...
- JudicatorLv 610 years ago
Do you have an article, because this is contrary to what I've heard and read earlier this morning, did something change or have I missed a recent piece?
- Duran DuranLv 710 years ago
They shouldn't have to pay for it all. Transocean LTD. who is the owner/operator of the rig should have to pay also.
- Anonymous10 years ago
As long as you remember what happens to them, you will pay for at the pump.