BP 'staked future on expanding offshore drilling'

[Ed Barrow]

Source: The Guardian

BP staked its future on expanding offshore drilling a month before the catastrophic explosion on the Deepwater Horizon triggered the United States' worst environmental disaster, according to company documents revealed yesterday.

The investigative web site ProPublica published a March 2010 strategy document in which BP named "expanding deepwater" as its number one area for long-term growth.

But even as the document was drawn up, engineers were struggling to control the Macondo well in the Gulf of Mexico, which had already gained a reputation as a risky operation, according to industry sources.

The strategy paper claimed BP now held a global lead over its competitors in deepwater production – even though its costs were considerably lower. Earlier this month the executives of BP's rivals, including Exxon and Chevron, told a congressional hearing they would have taken more safeguards on the doomed Deepwater Horizon rig.

Read more: http://www.guardian.co.uk/environment/2010/jun/28/bp-plans-offshore-drilling-expansion

[supernova]

1. So, does that mean BP is

a house of cards like Enron if they can't do deep water drilling?

[Kip Humphrey]

2. – even though its costs were considerably lower - I guess, now, we all know why.

:grr: :mad: :nuke: