Monday, October 4, 2010

BP (NYSE:BP) Won't Pay Shallow-Water Drilling Workers

With the Obama administration's disastrous oil moratorium in the Gulf, many workers have been taking a beating, and BP (NYSE:BP) has rightly stated at this time they're not going to pay for those out of work because of Obama's policies.

It's not that the oil moratorium explicitly stops drilling in shallow water, it's the fallout from the slowing permitting process which is the culprit behind hundreds of lost jobs in that segment of the industry.

Sen. Mary Landrieu (D, La.) blames the Obama administration for the job losses, saying it's a "de facto moratorium" on new drilling permits which is behind it.

Landrieu added, "It may be the federal government that has to step up and provide relief to the shallow-water rig workers that they've put out of business."

Responding to a request by Landrieu to pay for the shallow-water workers, BP said through fund spokesman Mukul Verma, that after paying for deepwater workers starting in the early part of 2011, there probably won't be enough money left over for shallow-water workers.

1 comment:

  1. BP is about to launch its new BPCares website. In a stunning move by BP last month, they decided to fight fire with their new BPCares website. The first task was to acquire all of the BPCares domains... mission accomplished!
    The domains are as follows:

    Inside sources indicates that the BPCares website will attempt to point critics of BP that the goal moving forward is 'Beyond Petroleum', more to 'Amoco' for its future.
    The new website will be launched soon.