Topic: Corporate scams and rackets
Corporate Premonitions: How a Few People are Making Billions from The Largest Environmental Disaster in Our Country’s History
Prior to the explosion of the well on the Deepwater Horizon rig some big money decisions were made almost as if the decision makers knew there was going to be an explosion.by -savoy
(libertarian)
Monday, June 7, 2010
Prior to the explosion of the well on the Deepwater Horizon rig some big money decisions were made almost as if the decision makers knew there was going to be an explosion. Let me say right now that I am not accusing anyone of anything, yet. I am simply pointing out the extremely shady and near clairvoyant investment decisions that several big power corporations made prior to the disaster in the Gulf of Mexico.
Before I get into the detail of the investments I will give the reader a bit of background information on British Petroleum. BP started out as a company called APOC (Anglo-Persian Oil Company) in 1909 in order to take advantage of oil that had been discovered in Iran. Eventually the Iranian people woke up to the fact that their natural resources were being looted by British Royalty and they elected a leader, Mohammed Mossadeq, who nationalized Iranian oil to give it back to the people and displaced BP. So in reaction to this in 1953 BP and our CIA staged a coup in Iran to overthrow Mossadeq, Operation Ajax, and put a military dictator in place. After using our government and their own BP successfully threw out a democratically elected leader of Iran and put the dictator Fazollah Zahedi in power who soon turned over the oil rights back to BP. To put it conservatively, overthrowing a democratically elected leader to install a dictator to sell out the nation to private interests is a less than ethical move. BP has also been caught dumping toxic waste in Alaska. They have also been caught covering up a toxic spill in Prudhoe Bay, Alaska as well. BP has been caught over and over violating human rights, dumping toxic waste, and even involved in carrying out a terror campaign in Columbian to protect a pipeline.
Needless to say that BP is not the caring and generous corporation that they claim to be on television. That being said let us now move on to the "preemptive" decisions that some of these key power players made prior to the explosion in the Gulf. First off is Halliburton's decision to buy the company Boot's and Coots just 8 days before the disaster, Boots and Coots is well known for putting out some of the largest oil and gas fires in the world. In another psychic and beneficial move, Goldman Sachs dumped half of their BP holdings, 4,680,822 shares, in the first quarter, right before the disaster. This is despite BP posting record gains in the fourth quarter of last year.
Some other intuitive dumping was done by Wells Fargo, who sold off 98 percent of their shares of BP days before the disaster. The Swiss bank UBS also sold off 97 percent of their shares prior to the explosion. In an overtly suspicious move Goldman Sachs placed shorts on Transocean stock, which is betting that a stock will fail, the day before the explosion of the rig. As if all these moves aren't dubious enough BP chief, Tony Hayward, sold off one third of his holdings of BP stock weeks before the disaster.
Looking at all of these equivocal and suspect decisions that were made by these individuals and corporations prove nothing. However what they should do is raise many questions. Why will BP only use the 100% toxic and 54% effective dispersant Corexit when there are many other much more effective and much less toxic dispersants available? Well, Corexit is produced by a company called Nalco and, guess what, in 2003 Goldman Sachs purchased Nalco for 4.3 billion. It seems like this oil spill just continues to benefit the Goldman Sachs balance sheet, does it not? Another question should be why BP ignored the recommendations by the safety inspectors and all but deliberately caused the explosion. Also, why did BP not only ignore the safety recommendations but they actually took actions that may have caused the explosion in the first place? Couple this collage of corruption and swindle with the fact that BP just bought the rights to key search terms on the internet in order to manipulate public opinion and you have to be catatonic to not see that something fishy is going on.
Just what exactly is going on here? Many speculations can be made like the fact that the American people have generally resisted the Cap and Trade agenda that is favored by some of the Big Oil companies. Now the very legislation that will allow Big Oil to pay the government for the right to pollute is on the house floor just weeks after this disaster. I am all for protecting our environment but if the Cap and Trade legislation was going to benefit the environment, why would a proven polluting and corrupt company like BP be an advocate for it? The bottom line is that without hard evidence no conclusions can be made. But if we allow all of these doubtful acts to go unquestioned and get swept under the rug, the only ones that will lose will be the people. We have to hold these multinational corporations who have so much power over our government to the fire or else the Corporatist State will inevitably ensue.
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Posted By: Robots Made Man
Date: June 8, 2010 02:44:36 PM
Prior to the explosion of the well on the Deepwater Horizon rig some big money decisions were made almost as if the decision makers knew there was going to be an explosion.
I cannot speculate on something like why it was 4-20. I am simply putting together multiple moves that can be documented. If you want to go all out "conspiracy" though, guess what else is on 4-20, besides the weed day it is Adolf Hitler's birthday.
@Robots Made Man,
Thank you. I put a lot of time into this piece. Since then I have found even more info too. BP released testimony documents and on page 37 here, it states that they found evidence of tampering. "ROV identified undocumented modifications to the hydraulic control system; the extent of the modifications is unknown at this time."
I hope that all the truth comes out and the people find out who is responsible for this..
Posted By: Robots Made Man
Date: June 9, 2010 02:56:22 PM
@-savoy'
Your welcome, I have been reading articles on the Nolan Chart for the last 2 months. I have to say you have been one of my favorite columnists. You back your arguments with facts. I created an account to comment on this piece. I cant wait to enjoy the next one.
Posted By: Whimsy1
Date: June 17, 2010 10:48:45 PM
An amazing and indepth article. You raise many questions that I hope are posted everywhere and really get people thinking. Hard to believe all that was just a lucky coincidence. In my callow youth I was such an optimist and I hate being cynical but there seem to be too few big companies that you can trust. All is for profit... which wouldn't be a bad thing if the profits were gained ethically and without putting others at risk... but I guess integrity is a very rare commodity these days.
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