Today we're treated to this incredible headline in the FT:
"BP leak just a bump in the road for the oil industry"
The thesis of the article lieth here:
"For the global oil industry, it looks like being no more than a bump in the road towards further exploitation of deepwater oil reserves, even in the Gulf of Mexico."
Two things: 1, the tepid regulatory changes that have been proposed are going to have no effect on these companies. 2, any internal changes that do result for these companies are being implemented only for reputational purposes. Case in point delivered:
"At last week’s World Energy Congress in Montreal, some executives called for new global safety standards for the industry in order to restore public confidence."
Right.
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