Friday, June 11, 2010

BP (NYSE:BP): Obama Go too Far?

Now that the British media has lept to the defense of BP (NYSE:BP), the days of Obama's popularity there are numbered, as even some of those who have supported him see him as over-responding to the oil spill, and not acting or speaking like a statesman by any stretch of the imagination.

With the press behind them now, political pressure will be asserted on new Prime Minister David Cameron, who is already being called to defend BP, and by extension, the British people in general, who now take personal what should have been a situation focusing on cleaning up the oil spill, and not using the typical blame game which has become the hallmark of Obama and the Democrats in his administration.

The hateful rhetoric of Obama and the Democrats is coming back to haunt them, and now it's too late to put the genie back in the bottle, as they simply refused to rein in their talk, by announcing stupid things like BP being obligated to pay for unemployment for those put out of work because of Obama's decision on a moratorium in the area is outrageous.

Of course the "boot on the throat" comment hasn't been forgotten, and the imagery of a boot on the face conjured up from the days of the Nazis isn't the best use of words by Obama, who evidently really meant it.

While most don't begrudge the taking of a breather to be sure things are okay, the 33 oil rigs in the area have already been tested and 29 of them found to be having no major problems.

To continue a moratorium for no reason is stupid, and to continue it and say BP has to pay for those put out of work because of it is even more stupid.

Obama has taken too far his attempt to placate certain elements of his base, and now he's paying a huge political price for it on the international scene, especially with the British.

1 comment:

Anonymous said...

Obama was initially ok with letting BP fix its own problem, but apparently that was going nowhere.

So far it's only talk, and talking doesn't actually plug the well. We've yet to see if Obama's bite matches his bark.

Even the Brithis know that much of this is politically motivated (midterm is 5 months away).

Plenty of time to make nice then if need be.