Saturday, May 15, 2010

Transocean (NYSE:RIG) , Halliburton (NYSE:HAL) , and BP (NYSE:BP) Get Rebuked By The President

The three companies, Transocean (NYSE:RIG) , Halliburton (NYSE:HAL) , and BP (NYSE:BP) , involved in what's being called the worst oil spill ever, got rebuked by President Obama for pointing the fingers at each other.

BP accused Transocean's blowout preventer for going out. Executive Officer of Transocean was adamant that the project begins and ends with BP. Halliburton's president of global business lines said they are bound by contract to do whatever BP says.

The president publicly voiced his harsh comments about the fiasco.

"I did not appreciate what I considered to be a ridiculous spectacle during the congressional hearings into this matter. You had executives of BP and Transocean and Halliburton falling over each other to point the finger of blame at somebody else," Obama said.

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