The Deepwater Horizon Oil Spill and Its Political Issues

For many fossil petroleum companies, the disconnectedness represents some of their most profitable and promising properties. The White can is on the face of it making an increased show of pressuring BP, but President Obama is facing authoritiesal heat from within his own party for what some say has been a lackluster response to the oil verbalise in the Gulf of Mexico. Since the spill began, there has been some intense political debate regarding BPs responsibility, the governments response, and the extent of the environmental damage.Matthew Dowd, political consultant and chief pollster to former President George W. Bush, express the incident is likely to pose a huge political problem, equal to what President Bush faced after Hurricane Katrina. Administration officials besides verbalise the government will make changes to the way it allows offshore drilling, including raw measures for the permitting process, new safety requirements for offshore rigs, and what was described as strengthened inspections for drilling operations.Having winning at least partial ownership of the crisis, the Obama administration is redoubling efforts to crack wipe out on BP, sending a letter to CEO Tony Hayward complaining that his promises to yield complete and timely information on the spill have move short in both their scope and effectiveness. BP has already agreed to cause aside $20 billion over several years to correct for claims resulting from the oil spill. The company has paid the U. S. government $390 million for the cost of putting to death and received an additional bill for $128. million from the Obama administration. Obama and his senior White House staff, as well as indoor Secretary Ken Salazar, atomic number 18 working with BPs chief executive officer Tony Hayward on legislation that would overturn the cap on liability for damage claims from those affected by the oil disaster from $75 million to $10 billion. However, WMRs federal and Gulf advance so urces are reporting the disaster has the real potential cost of at least $1 trillion.Critics of the deal being worked out between Obama and Hayward catch out that $10 billion is a mere drop in the bucket for a trillion dollar disaster but in addition note that BP, if its assets were nationalized, could fetch almost a trillion dollars for compensation purposes. on that point is talk in some government circles, including FEMA, of the need to nationalize BP in order to compensate those who will ultimately be affected by the worst oil disaster in the history of the world. The Obama administration also conspired with BP to fudge the extent of the oil leak, according to our federal and state sources.After the oil rig exploded and sank, the government stated that 42,000 gallons per mean solar day was gushing from the sea floor chasm. Five days later, the federal government upped the leakage to 210,000 gallons a day. Obama assist stressed that BP would bear the cost of the spill, incl uding the cost of plugging the well, cleaning shorelines and paying for government air and water screens. Separately, fishermen and others anticipating environmental damage filed class-action suits against the company. On a day when the stock market rose broadly and sharply, BPs stock price take flight more than 8 percent to $52. 56 a share.In the minds of politicians and strategists, the oil has a good deal become a giant ink blot, a Rorschach test in which each of the opposing sides sees proof of the larger narrative. Florida Sen. Bill Nelson called on Obama to step back from his expanded offshore drilling plans. In a letter to the president, Nelson said he would file legislation to ban the Interior Department from following through on Obamas proposal for new seismal and drilling activity. He said the gulf spill may be an environmental and economic disaster that wreaks havoc for commercial fishing and tourism along the Gulf of Mexico coast. Reference http//www. nytimes. com/ 2010/06/30/us/politics/30polmemo. hypertext mark-up language? pagewanted=1 http//political. com/content/bp-oil-spill http//abcnews. go. com/GMA/Politics/bp-oil-spill-political-headache-obama-democrats-slam/story? id=10746519 http//washingtonexaminer. com/politics/white-house/political-problems-oil-spill-may-stick-obama http//edition. cnn. com/2010/US/09/14/bp. justice. legal. action/index. html http//www. washingtonpost. com/wp-dyn/content/article/2010/04/29/AR2010042902290. html