City experts believe the agreement hammered out between BP and President Obama should help it to rebuild its relationships in Washington, and protect the company’s future. But with three quarterly dividend payments axed, investors will bear the pain for many months.
Green activists using helicopters, divers and rotten butter yesterday confronted Libyan and Italian fishermen to release hundreds of threatened bluefin tuna which they strongly suspect were illegally caught off the Libyan coast.
BP CEO Tony Hayward is the captain of a foundering ship who just doesn’t know anything about ships. He was not party to any important decisions. He cannot recall important moments. He managed to get through nearly three decades of working in the oil business without actually learning anything about it.
And given the opportunity to prepare for specific questions in advance, what do you think he did? Nothing.
Fossil fuels including oil, natural gas and coal received more than twice the level of subsidies that renewable energy sources got from the U.S. government in fiscal 2002 through 2008, the Environmental Law Institute said.
Government spending and tax breaks amounted to $72.5 billion for fossil fuels and $29 billion for renewable energy, according to a report by the institute today.