See? We Told You So.

See? We Told You So.

Congressional committee hearings Tuesday provided the first overt finger-pointing in the Deepwater oil-spill catastrophe. BP officials blamed their Transocean drilling contractors for the Gulf offshore oil spill; Transocean blamed both BP and service provider Halliburton. Guess what Halliburton did.

See? We told you so.

More:

“BP, Transocean and Halliburton blame each other for Deepwater Horizon spill,” Suzanne Goldenberg, The Gurdian.

“Oil companies trade blame over Gulf of Mexico spill,” Olivier Knox, AFP via Google.

“Oil executives shift blame at Senate hearing,” Steven Mufson and David A. Fahrenthold, Washington Post.

“Oil-Spill Hearing Leads to Finger-Pointing,” Sioban Hughes and Corey Boles, Wall Street Journal.

“Oil executives face Congress on spill, shift blame,” Timothy Gardner and Ayesha Rascoe, Reuters via CNN Money.

“Senators Hear a Cascade of Blame for Oil Rig Explosion,” Jim Efstathiou Jr., Businesweek.

“Gulf oil spill: Companies’ fingerpointing falls flat, “Richard Simon and Margot Roosevelt, Los Angeles Times.

“Blame game intensifies at Senate oil spill hearings,” Giles Whittell, The Times.

“BP Hearing: Fingers Point While Oil Spews,” Carl Gutierrez, Forbes.

“Firms pass the buck on oil spill,” Josef Hebert, The Scotsman.

Theses are just the first public hearings. When the lawsuits start, other deep-pocket Deepwater participants will be drawn into the blame game. Valve manufacturer Cameron made the blow out preventer (BOP),  and Hyundai Heavy Industries built the exploratory oil rig. BP is not the sole owner of the oil lease in question; partners Anadarko and MOEX 2007 (a subsidiary of Mitsui) may become involved as well.

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length.

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