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A lot of people seem to be overlooking the fact that offshore oil development is a very risky business. If you invest in a risky business (as BP's investors did) and depend on it (as the US consumers did) you are subject to some very unpleasant surprises.I suspect BP is little different from many other companies in this regard. BP just happened to be in the wrong place at the right time. Unfortunately, the brand is tarnished, and will be for a very long time, should it survive that long.It's interesting that some would seek to impune the president of the USA in this fiasco. He, like most of us in the US and the UK, was probably under the misguided impression that BP had sufficient expertize to ensure that something like this was very unlikely to happen, and even if it did, contingency measures would be immediately implemented to mitigate the consequences.Please pardon this observation, but it is now clear that BP was flying by the seat of its pants. There is nothing wrong with flying a corporation by the seat of its pants as long as the corporation makes that clear. Did BP do that?
Well, if you're going to shove responsibility upwards then the blame lies with .....
For my part, I am very disappointed in the behaviour of Barack Obama.