BP is facing a congressional probe in Washington over whether its decision to shut down production at its Prudhoe Bay field was a “market strategy” designed to manipulate the oil market.
In a scathing letter sent to Lord Browne, BP chief executive, on Friday, Joe Barton, the powerful chairman of the House energy committee, suggests the Alaska shutdown could be part of a wider strategy by BP to influence the market, particularly in light of recent allegations by US regulators that the company engaged in illegal trading in the propane gas market. The company has denied those allegations.
The lawmaker is understood to be incensed particularly by the shutdown because staff at the energy committee received reassurances from BP just a few months ago that a March oil spill, the result of a corroded pipeline, was “an anomaly”.
“Following on the heels of the BP refinery disaster that killed 15 people in Texas City in 2005, and the oil spill . . . this latest incident once again calls into question BP’s commitment to safety, reliability, and the responsible stewardship of America’s energy resources,” Mr Barton said.
Barton is a mouthpiece in Congress for the Oil Patch Boys. So, is the question raised on behalf of American consumers — or just finger-pointing at a competitor?
You know it’s election time when those in Congress are up in arms about something.
And they ONLY check this stuff, WHEN something STUPID is happening..
Look at EXON..
with all the regulations you would THINK that the BIG corps would be UNDER the thumb and being WATCHED…
Just BS political posturing of course — on the other hand, BP deserves the harassment for all those namby-pamby liberal “carbon footprint” commercials they’ve foisted on us.
RE: #4. You Conservatives love “free market” so get used to this kind of crap!
Im sorry,
But I think its Blackmail…
alternatices have been HERE for many years, but MANY states havent installed them… WHY??
Alcohol based fuels, E85, and a few others.
The Auto and Gas companies have been SLACK in createing Alternatives…WHY??
ECA –
If the alternative fuels were everything their proponents claim they are, the oil companies would be developing them like crazy, and raking in the profits. But it’s just that most “alternative fuels” aren’t as great as their proponents claim they are.
We could make a recycling engine that gets Fueled 1 time, uses expanion insted of Explosions…
Its like useing a Turbine, Using the FLOW/hydraulics of material to turn it,rather then explosives…
Even Steam power, using an alternative to water, WORKS..
Its the heat scource that uses flame, or solar.
Then re condence the material After its use, thru a sterling engine, module and Vacumme and negitive pressure.
ECA, please stop posting if you are are going to continue just writing nonsense.
Seriously, wft are you talking about?
(no need to reply, just stop)