Pique Oil: Digging the Whole

Aside from the finger pointing by the various parties involved in the Deepwater Horizon disaster at the Macondo oil well, as discussed in the previous blog, another theme has grown in importance over the past few weeks. In addition to “Who’s to blame?” we now have “Who’s really in charge?”

Brittania roils the waves

BP, often called recently by its former name British Petroleum, says it’s responsible but so, too, are a few other firms who might share the blame. Those firms might also share the costs of the cleanup (assuming that the continuing oil flow is ever stopped) unless BP is proved in court (some time in the next two or three decades) to be negligent. BP has ponied up at least $20 billion to be held in escrow as a start for repairing the damages caused by the spill. Meanwhile the damages mount and the compensation for them seems, to the victims at least, to be trickling in at best.

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