Friday, June 11, 2010

BP (NYSE:BP), Obama, Finally to Meet

Under growing pressure of appearing and more importantly, acting disengage, Barack Obama will finally meet with officials from BP (NYSE:BP) (LON:BP) on June 16, which at that time will be about 59 days from the beginning of the oil leak.

Obama has stated he doesn't like to meet and talk to be people like this because he wants action and not talk, but BP of course has been taking action since the beginning of the accident.

According to Coast Guard Admiral Thad Allen when writing a letter to Carl-Henric Svanberg, chairman of BP's board of directors about the upcoming meeting, he said, "President Obama will participate in a portion of this meeting."

Allen added a little dig saying, "Our administration is not going to rest or be satisfied until the leak is stopped at the source, the oil in the Gulf is contained and cleaned up, and the people of the Gulf are able to go back to their lives."

Duh. Really?

The leak actually could be mostly stopped as early as next week, said BP, who is preparing a better cap to plug the oil leak with to place on it sometime in the next several days.

They also added a second vessel to process the oil and burn off that which they can't keep up with.

For Obama, this will be the first meeting between him and representatives from BP. It's somewhat irrelevant this far in, and is more bowing to pressure from outside sources than anything else, as it should have been done a long time ago and continued on.

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