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To: T L Comiskey who wrote (80666)	5/31/2010 9:36:42 AM
From: stockman_scott	Respond to of 89467

At Least 10 Are Killed as Israel Halts Flotilla With Gaza Aid nytimes.com Israel's attack tests NATO Doctrine. dailykos.com. From Israel's Haaretz newspaper: haaretz.com

To: T L Comiskey who wrote (80666)	5/31/2010 10:07:58 AM
From: stockman_scott	Respond to of 89467

BP Spill Tests Its Survival nationalpost.com Huge share-price discount raises spectre of takeover By Janet Whitman Financial Post Monday, May 31, 2010 After BP PLC failed once again to plug the worst oil spill in U.S. history, the British corporate giant faces what could be an even bigger challenge: justifying its continued existence. BP's brand is by no means damaged beyond repair at this stage, but as things worsen at the disaster in the Gulf of Mexico some observers are saying the company would be better off selling itself or many of its prized assets to its rivals. "A crisis like this can break a company," said Ronn Torossian, chief executive of New York-based public relations firm 5WPR. "BP is clearly in a lot of trouble. It's too soon to know whether the company can recover, but the PR problem keeps growing. "The golden rule for PR is clarity and I don't think there's anything here from BP's executives that gives people confidence." Putting a spotlight on the uncertainty surrounding BP's future and the aftermath of the oil spill, the company's shares have been pounded. Since the April 20 explosion at BP's deep-water rig started gushing oil, BP's stock has lost as much as 30% of its value. And things could get even worse today as shares resume trading in London after the company's latest attempt to choke the spill at the Deepwater Horizon rig, dubbed "Top kill," unexpectedly failed over the weekend. Despite that dramatic US$55-billion drop in its market value, with so much uncertainty, BP's rivals aren't likely to be circling with a takeover in mind at this juncture, analysts said. "We have no idea what the size of the liability is," said Phil Weiss, senior energy analyst with Argus Research. "I've heard estimates go as high as US$20-billion, and some think it will be even more.... There's so much uncertainty, I can't imagine anyone would want to take on that headache." Another hurdle would be antitrust concerns given the huge size of BP and its rivals. If its competitors acquired some of BP's assets, rather than the whole company, the liability probably wouldn't follow. But analysts doubt BP is ready to go that route, noting that Exxon's brand was able to recover after the disaster that spilled 250,000 barrels of crude in Prince William Sound, Alaska, in 1989 and BP might do the same. "Exxon has used that accident to find religion so to speak in terms of really cleaning up its act and running things well," said Mr. Weiss. "That's really what BP needs to do here." BP has been beset by fresh headlines each day that have revealed shoddy management practices that perhaps led to the explosion of the oil rig -- a stark contrast to the image BP painted of itself as one of the most socially and environmentally responsible large oil companies on the planet. It hasn't helped that the Gulf of Mexico spill is the third major disaster the company has had over the past six years. In 2005, its refinery in Texas City exploded, killing 15 people and injuring dozens more. In 2006, a corroded BP pipeline in Alaska led to the worst oil spill in the history of that state's oil-rich North Slope. BP has been very aggressive about addressing the latest catastrophe, spending as much as US$930-million, including claims and federal costs, on the spill, according to an estimate from the company in Friday. "The company has certainly spared no expense," said Pavel Molchanov, an energy analyst with Raymond James. "They've waived their right to a liability cap and said they would cover all private-sector claims." Still, BP has a tough road ahead, he added. "It took BP years to repair its image after the Texas City explosion.... Clearly what's happened here is much more severe."

To: T L Comiskey who wrote (80666)	5/31/2010 12:06:23 PM
From: stockman_scott	Respond to of 89467

Swimming Through the Spill ... nytimes.com By SUSAN D. SHAW Op-Ed Contributor The New York Times May 28, 2010 For the last few days, attention has understandably been directed at the shores of the Gulf Coast as oil has started to wash up on beaches and in marshes. But last week I had the chance to see the effects of the spill from another perspective — when I dived into the oil slick a few miles off the Pass a Loutre wetlands in southern Louisiana. What I witnessed was a surreal, sickening scene beyond anything I could have imagined. As the boat entered the slick, I had to cover my nose to block the fumes. There were patches of oil on the gulf’s surface. In some places, the oil has mixed with an orange-brown pudding-like material, some of the 700,000 gallons of a chemical dispersant called Corexit 9500 that BP has sprayed on the spreading oil. Near Rig No. 313, technically a restricted zone, the boat stopped and I (wearing a wetsuit, with Vaseline covering exposed skin) jumped in. Only a few meters down, the nutrient-rich water became murky, but it was possible to make out tiny wisps of phytoplankton, zooplankton and shrimp enveloped in dark oily droplets. These are essential food sources for fish like the herring I could see feeding with gaping mouths on the oil and dispersant. Dispersants break up the oil into smaller pieces that then sink in the water, forming poisonous droplets — which fish can easily mistake for food. Though all dispersants are potentially dangerous when applied in such volumes, Corexit is particularly toxic. It contains petroleum solvents and a chemical that, when ingested, ruptures red blood cells and causes internal bleeding. It is also bioaccumulative, meaning its concentration intensifies as it moves up the food chain. The timing for exposure to these chemicals could not be worse. Herring and other small fish hatch in the spring, and the larvae are especially vulnerable. As they die, disaster looms for the larger predator fish, as well as dolphins and whales. As I swam back to the surface, some big fish came up to the boat — cobia, amberjacks weighing up to 60 pounds — looking for a handout. These are the fish that have made the Gulf a famously productive fishing area. But they rely on the forage fish that are now being devastated by the combined effects of oil and chemical dispersants. In a short time, the predator fish will either starve or sicken and die from eating highly contaminated forage fish. Yes, the dispersants have made for cleaner beaches. But they’re not worth the destruction they cause at sea, far out of sight. It would be better to halt their use and just siphon and skim as much of the oil off the surface as we can. The Deepwater Horizon spill has done enough damage, without our adding to it. *Susan D. Shaw is a marine toxicologist and the director of the Marine Environmental Research Institute, a nonprofit scientific research and educational organization.