|Hayward: Bleak Prospects|
The evidence for this pessimism? The Telegraph's report today, which has been covered widely in the US on Fox and CNBC too, that the cost to BP for its liability will top $100 Billion should be enough, shouldn't it? No company can withstand that kind of bill and remain intact, no matter how large it is. That's the kind of money that takes down entire middle-sized countries. United States congressmen and women don't give two hoots about that, however, this being an election year. All they care about is the hysterical US public opinion. It's a simple calculation that US politicians from the pisspoor president down have made: 'the more we hurt BP (shake it down and pump it dry) and dogwhistle the anti-British meme, the more votes we get'. It's as pathetic as it is dismally feeble as it is dishonest.
BP will be gone by the end of the year. I'll put money on it.
The economic, political - even the historical - implications of this are truly frightening (particularly in terms of just how rotten the United States political classes have become) but they're separate issues that I'll have a stab at in a later post.
Or maybe someone else, if they accept the basic premiss (that BP is finished), could have a go.