Big Oil cost cutting tied to Alaska oil spill

You know it’s bad when a Republican is even criticizing Big Oil. Even as consumers were being fleeced at the gas pump, it just wasn’t enough profit for Big Oil who had to have even more. Remember the record profits quarter after quarter? Gordon Gecko lives.

BP’s ceaseless efforts to promote itself as an environmentally responsible energy producer took a serious blow yesterday after a US congressional committee said “a mountain of evidence” showed the company’s cost-cutting on maintenance had led to a large oil spill in Alaska. The US government said it was “highly likely” to fine BP over the leaks.

The committee was also told that the causes of the spillage – which happened at a time when BP was making huge profits – shared “striking similarities” with the problems that led to the 2005 explosion at a Houston refinery in which 15 people died.

“My review of the mountain of circumstantial evidence can only lead me to the conclusion that severe pressure for cost-cutting did have an impact on maintenance of pipelines,” said the Republican Bart Stupak, chairman of the House Energy subcommittee on oversight and investigations.

And these guys want to drill in ANWR? In a wildlife refuge? And to think the GOP kept pushing to drill in ANWR, surely knowing about this.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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