Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (74130)	10/29/2010 12:15:53 PM
From: maceng2	1 Recommendation Read Replies (2) of 74559

If you are in a high risk business like the oil business, you keep your safety defence strategy in depth. You maintain multiple levels of safety so if one critical level breaks another kicks in. Cowboys and clueless penny pinching micromanagers screw up because they lose sight of the defence in depth strategy. The BP incident revealed complete breakdown of proper management at multiple levels. BP had overall responsibility for a safe operation and obviously didn't care enough. That is now clear and becoming clearer every day. Incidently, BP is more American now then British. There is certainly more USA pensioners losing money over it then British. BP stands for "Beyond Petrolium" not "British" anything. It was changed in approx 2001 after the last merger. The news has been such horsechit from start to finish on the BP incident. There should be a $10 million prize for the first person who discovers one complete sentance of truth in all the garbage written about it.

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