Monday, October 25, 2010

BP (NYSE:BP) Money Wasted on Louisiana Sand Berms

Evidently in an effort to use up all the money provided by BP (NYSE:BP) to construct sand berms in Louisiana, the government continues to have them built with little value to the state, as the oil is for the most part gone from the Gulf.

This is probably an attempt to keep people working, but it still doesn't make much sense whatever way you look at it.

Berms are used to protect coastlines from oil reaching them. They are basically miniature sand islands lying low in the water. BP paid $360 million to build the berms.

According to experts, the any oil left in the Gulf is widely dispersed, making berms basically useless.

Of course these "experts" don't want to have the money given back to BP, but used on other projects. Since when was money supplied by BP to be used as if it was taxes collected from citizens which could be applied to whatever the government wanted it to be?

Some of the so-called experts are from universities, which explains a lot, as they are greedily eyeing the money for their own pet projects, which is where most of the major criticism is coming from.

Louisiana officials are asserting the threat of oil staining the shores of Louisiana are still there, but that's highly unlikely.

Like any government entity, once they get the money they'll keep on using it till it runs out no matter how wasteful their actions are.

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