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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: GPS Info who wrote (96804)	11/29/2012 6:22:43 PM
From: Maurice Winn	3 Recommendations Read Replies (1) \| Respond to of 217553

GPS, perhaps you are unaware of the effect of the accident on BP shareholders and therefore pensioners: <the massive environmental disasters that occur to get that pension. > The big gains were not to BP pensioners. There were umpty$billions gained by lawyers, and swarms of claimants who were able to assert some damage or other, plus fines and general gushing $$$$ which flowed to hordes of who managed to get their greedy snouts in the trough. The accident did not benefit BP at all. Nor BP pensioners. On the contrary. The company has lost more money than nearly any other company. The way balance sheets work, that is a bad thing, not a good thing. BP has spent a fortune over decades trying to avoid exactly that sort of outcome. I warned them back in 1986/87 about exactly such a USA accident because of the viciously litigious gouging outcomes of any such mistakes. I was thinking particularly of lead in petrol, benzene in emissions and any environmental damage which might be demonstrated. The biggest-ever environmental damage was lead from gasoline/petrol into the exhaust and into developing brains which damaged everyone's brains irreparably, to the tune of 0.3 IQ points which seems not much to people who don't understand the economic implications nor the measurement of brain function. If you knew much about the oil industry, you would know how much effort and cost goes into avoiding accidents and health harm. If you understand economics you know that costs are themselves harmful to people because that money going to extreme safety and health protection can be not only counter-productive by causing actual direct harm but it is an opportunity cost in that the money could have been spent on much better ideas such as actual medical treatment of people with actual real problems in the here and now. Spending more money on safety does not necessarily make people safer. Mqurice