Gem of the day

Oil majors like BP might be in denial about oil running out, but they sure are quick to notice when money is running out - especially money linked to legal obligations from a spill.

In editorial adverts last month BP issued concerns over potentially illegitimate claims being paid out from its dedicated $20 billion Gulf of Mexico reparation fund. Verbatim:

"Trial lawyers and some politicians are attempting to capitalise on this misinterpretation by encouraging the submission of thousands of claims for inflated losses, or losses that do not even exist...Whatever you think about BP, we can all agree that it's wrong for anyone to take money they don't deserve."

It sure is. Which makes BP's own history of poorly managed anti-corruption policies so much more ironic, from over 365 breaches of conduct in its Russian TNK venture, to years of bribery exposed in its shipping division.

And it's not worth getting started on BP's own role in promoting things that "do not even exist" - artificial reserves, anyone?

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