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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (73433)	5/9/2010 10:40:40 PM
From: Maurice Winn	1 Recommendation of 74559

That was what I observed in the 1980s - USA oil companies [and companies in general] are far more scripted than the eccentric British and generalized mayhem of other countries. My argument was that BP had to become more scripted or risk the company with enormous penalties for relatively minor disasters. <The industry standard for safety, analysts say, is set by Exxon Mobil, which displays an obsessive attention to detail, monitors the smallest spill and imposes scripted procedures on managers > Each has its advantages. Eccentricity and an array of ways of doing things is good in some ways and is the way of nature - try all options and those which fail are eliminated. It's too harsh for an ordered way of life with low risk expectations and tends to short run high costs though it gets long run creativity. It's not surprising that Exxon is more American and BP is more British even though BP has tried to improve safety. What is happening is exactly what my argument was 23 years ago = unless great care was taken, and a change in approach adopted, BP could be eliminated as a company. Exxon Valdez served as a good warning, I thought. Mqurice

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