Tag Archives: Transocean

The Politics of Oil

May 26, 2010 

The politics of oil dates back to 1859 when the first oil well was dug 69 feet and the thirst has been for deeper and deeper rigs even in the earth’s oceans.  The profits and politics of oil are enormously gratifying for the oil companies however safety has been largely ignored to save money. The US has been lenient with oil company profits choosing in the past to tax oil companies less and less each year. 

May 26, 2010 2:43 p.m., Operation Top Kill has begun and is underway to stop the oil leak.  We will be updating as it progresses this afternoon.)

The gulf oil spill has 3 foreign corporations involved in the spill and they are  Transocean (RIG)  based in Switzerland, Haillburton  (HAL) which is based in Dubai, and BP (BP plc) NYSE which is based in the UK.  They are all considered foreign corporations but have major offices on US soil.  The basic pattern for some oil companies is to evade US corporate taxes by moving their head office to a foreign country which is part of the politics of oil.

Halliburton has moved it’s offices to Dubai to evade US taxes even with Dick Cheney on the board of directors, Halliburton has received preference in Iraq rebuilding no bid contracts during the Bush administration. 

Halliburton over billed the US government with hundreds of examples of over-billing for work the Iraq’s did before the war.  The Halliburton sealing of oil drills was less than acceptable and their work was shoddy at best in Iraq. The Bush administration were responsible for lax regulations and promoted the politics of oil.

BP Oil along with Chevron in California have had an easy time with paying taxes on profits thanks to the 8 years of a Republican oil man in the Oval Office. Campaign contributions, oil lobbyist and influence peddling has done in the US political system and drove it into a hurricane of disasters.

The Massey coal mine explosion, BP Oil’s spill in Alaska, BP’s explosion in Texas, The Exxon Valdez and now the BP Oil spill in the Gulf of Mexico are just a few examples of leniency towards big oil. When will this campaign of tax favors, corrupt practices, ignoring safety and now when will this oil spill end?

Recently the Conservative Right members of the Supreme Court of the United States actually encouraged more political influence by allowing corporations to buy politicians with more campaign contributions -as much as they want to spend to buy favor. 

The SCOTUS is re-writing laws and actually ignored the US constitution by making a corporation a human entity.  The absurdity of this new ruling opens doors for big oil even more and foreign companies that wish to buy their way into US politics. 

The right wing nuts are hard at work but visibly absent in their comments about BP oil destroying a gulf with greed, excesses and buying political favor with the US government.  After all BP has a long track record of bribery and a lawsuit is still pending against BP Oil Corporation for influence peddling in Europe.

Transocean Ltd., dodged taxes by moving its headquarters to Switzerland in 2008 and pays only 16 percent corporate taxes but if its headquarters were in the United States they would pay 35 percent.

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However there are only 12 Transocean employees in Switzerland and 1,300 are in Houston Texas therefore the majority of the company is in the USA but they pay no taxes on corporate profits.  This loophole must change for this is a tax evasion ploy and the US revenue service should have the right to tax their profits due to the work the corporation does is based in the USA.

Chevron Pays No Extraction Taxes in California

Arnold Schwarzenegger who recently denounced oil drilling off of the coast of California, has received financial benefits from Chevron Oil to the tune of $250K in return for no extraction taxes on their profits. Arnold also received an additional $700,000 campaign contribution to his coffers from Chevron.

Chevron Perks in Richmond -Tax Corporations on the Ballot in November 2010 Election

In the city of Richmond a ballot initiative is planned to end the perks Chevron receives reduced tax benefits due to a 1983 tax cap approved by the Richmond City Council. Chevron is fighting any new taxes even though it is the second most profitable US corporate oil company.  The new tax would be a 10 percent utility tax that all other Richmond businesses and residents pay each year and would be a drop in the bucket for Chevron.

Obama Too Hard on British Petroleum Oil

The Politics of Oil- is that Republicans have always been soft of big oil thanks to the Bush and Cheney connections to that industry.  Also corporate profits are part of the Republican capitalist society policy that they so dearly love to promote in the media.  ” The US is a capitalist society” they claim however most Americans now – do not agree.

The Politics of Oil

Tea Party Favorites- Big Oil

Where is the outrage by the Tea Party?  There is none because they support big oil, they support dirty energy and they support Sarah Palin who screams “Drill Baby Drill.  Palin’s history with British Petroleum (BP) goes back a long way in Alaska.  Palin promoted “Drill Baby Drill” all through the 2008 Campaign for the Presidency,  could you imagine that policy now?

Sarah Palin as misguided as she is has been on the wrong path to clean energy which is what most Americans embrace and the fact that we cannot keep our addiction to oil -its time for rehab.  Palin has significant ties to the Alaska Pipeline which she claimed to have negotiated all by herself -which was not true.  Sarah Palin’s husband Todd was also employed by British Petroleum for dozens of years and Palin has been a faithful wife to BP Oil.

The Tea Party candidate Rand Paul claimed that President Obama was “too hard” on BP Oil.  Let us see how that translates to votes for him in the November election.  Even Kentucky has is coal mining accidents with Alliance where the roofs caved in a mining tunnel killing employees.  Rand Paul stands for big corporate profits and big business -no matter if it is in the wrong direction for cleaner energy policies.  You would think Rand Paul would be promoting green energy but he is not.

California Oil Taxes- Chevron

The favoritism -the lobbying all has to stop now and President Obama has to clean house of executives in the EPA, the Energy Departments of government -off shore leasing offices,  that have had too cozy a relationship with big oil.  It is the end of financial benefits, perks, bribes, and campaign contributions and lower taxes on these corporations who’s greed has exceeded their duties and obligations to Americans.  This corruption all ends now since the Gulf Oil Crisis will teach hard lessons for years to come this gulf will become a sewer and ample testimony to the corruption in government that caused the spill.

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Sexcapades-MMS and Oil

May 29, 2010 In 2008 during the Presidential Election many speculated who would take over for Dick Cheney who’s hands were dirty with oil money. All during that time and prior government officials from MMS and other departments were having sex, taking drugs and accepting bribes from big oil company executives.

Investigations from 2008 have not fired, or charged these government employees with any wrong doing even today as the millions of gallons of oil continue to turn the Gulf of Mexico into an oil refinery. These same people are still employed at MMS and the Interior Department where rigging contracts, gifts for favorable leases, bribery, graft and a culture of abuses brought us to the BP Oil disaster of 2010.

Minerals Management Services -Sex, Lies, Bribes and Disasters

Of course Dick Cheney and George Bush thought this was perfectly all right and capitalism in the oil business was king. After all Wall Street had the freedom of no regulations why not the oil business also?
The ban on offshore drilling which many opposed due to the dangers of spills was lifted by one George W. Bush while he was in office.

The investigation had evidence of promiscuous sex by government and the oil trade including the drugs used during their liaisons. These government agencies were described as whore houses who sold themselves for the pleasures of free trips, golf memberships, dinners, booze, drugs and any paybacks available. The oil companies included BP, Chevron, and Shell to name the top fornicators of American oil.

Names were named such as Gregory W. Smith who snorted coke and has sex with his employees at the Denver Royalty Office. These executives worked at the highest level and most important function of the federal government which is the energy departments that control the nations resources.

President Obama’s pick of Ken Salazar was a weak choice because he is not tough enough to clamp the oil business into regulations and overhaul MMS to get rid of the rats. The new world order far from the description used by George Bush Senior who was also an oil man far too lenient with oil companies. In fact the US Presidency has has 12 years of oil men in power both Bushes have stock in the oil business and then there is Dick Cheney’s involvement in Halliburton.

As the clock keeps ticking – the oil keeps gushing every minute of delay is unacceptable and causing a concern of a national emergency in the making. Every minute more oil is dumped into the Gulf of Mexico which is affecting spread into the Gulf stream.


WKRG.com News

Cheney remained tied to Halliburton a company he once ran and had deferred salary, and stock options all through his 8 years as Vice-President. Cheney denied this however the Office of Government Ethics maintained that deferred benefits, and stocks are still ties to an former employer. The question was the conflict of interests with his financial ties to Halliburton and how much power he had to influence decisions. Halliburton was hired to restore Iraq’s oil industry with a non-competitive bid contract and it was open ended. Cheney saw to it that Halliburton received 1.7 billion dollars from the Iraq contracts.

Halliburton was found to perform terribly and cost estimates were riddled with hidden charges, intentionally overcharging and gouging the government by inflating costs to the tune of 26 million dollars.
Halliburton even charged the US government for a concrete pad that the Iraqi’s has already constructed. In total Bush, Cheney and Halliburton conspired to defraud the US taxpayer for billions of dollars in a free for all capitalist state which amounted to robbery.

Obama has failed to project the image of a strong President and needs to clean house of the corrupt practices of these government agencies which are basically out for the money and where bribery is a common cancer.

Out of the three companies BP Oil, Halliburton and Horizon none can be trusted by their own historic criminal activities. BP Oil has a history of engaging in bribery also in Europe and peddling their influence for gas and oil leases in a lawsuit.

Tags: Mineral Management Services-Sexcapades, Dick Cheney, Halliburton and Dick Cheney, Oil Sex and Government, George Bush-oil man, Ken Salazar, Halliburton, HAL, BP,  Transocean, energy, politics.

BP Hearing

May 10, 2010 The Senate Energy and Natural Resources Committee’s hearing about the Gulf Oil Spill  was not televised thoroughly and completely.  None of the media networks today covered these representative executives from the large corporations who are being held responsible for the explosion and disaster.

There was hardly any coverage as the three parties involved in the Gulf oil spill were grilled on the hill today and took an oath to tell the truth.   You have only to look at BP’s history of spills and explosions in the past to see history repeating itself before April 20, 2010 when one of their rigs blew up again.  Up until today 4 million gallons have been lost and damaged the US shores of the Gulf of Mexico.

Those who are interested in answers especially in Alabama, Texas, Louisiana, and Florida did not get any answers.   understand how the US government will act in enforcing acts under sovereignty of the US in order to get the 3 amigo’s to accept responsibility for their mistakes.

The British Petroleum President Lamar McKay shrewdly answered questions on whether BP Oil or BP Petroleum would pay for the oil spill damages and he gave incomplete answers.

Firstly McKay said BP would pay for legitimate claims, but failed to indicate how the legitimacy of claims would be determined.  In who’s general opinion would claims be analyzed as being legitimate?

BP is insured by Lloyds of London and some shrewd US investigator on behalf of the US government could start by obtaining a copy of that insurance policy of BP Oil.

Transocean had their chief executive Steven Newman saying the blow out preventers were “clearly not the root cause of the explosion” -did Transocean who built the rig mention who installed those blow out preventers?

Then we have Tim Probert from Haliburton who cemented the steel casing for the oil well claiming it was not the cement plug and it was BP’s fault because they failed to put the cement plug into place because they decided to displace the riser with sea water before putting the plug into place.

BP, Hiliburton, TransOcean-I Swear to tell the Whole Truth and Nothing But the Truth So Help me God.

Hundreds of billions of dollars are at stake here and someone or collectively all three companies will pay for damages.  However by the start of this inquisition it is clear that it will be a long drawn out court battle unless the US government gets the balls to prosecute these companies to pay up now -not later.

The US government stands to lose income taxes, and tax revenues on the fishing industry that now is totally out of business in the Gulf.  It is as if the Gulf of Mexico has just been handed over to the big industrial oil companies because any fish that comes from that water now is poisonous and will die out for years to come.

But going back to the beginning there are procedures and studies involved before you do any deep ocean drilling and these facts are not being brought out to the public.

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The Facts about the Gulf Oil Spill

The fact is that BP Oil is the company that engineered the oil drilling, they are the instigator of this drilling, without them -Transocean would not have built the rig in that location and Haliburton would not have built the cement plug.

As a corporation BP had the expertise and knowledge that oil was located that far down, and that deep and they designed the method to extract the oil.

BP Oil  convinced the US government that drilling at this depth was safe but provided no proof in their applications to drill offshore so near to the mainland of the United States. BP cannot possible assume to escape culpability in this spill for it would have had to do just that which is convince the US regulatory agencies.

It is equally puzzling how BP convinced or financed approval for off shore drilling 50 miles from the US coastline and obtained such authorization and under what documentation to prove the safety of their drilling operations.

BP Oil had no back up plan, no safety plan in place and this is clearly evident by their floundering trying to fix the leak now which is 3 weeks too late.

BP Oil does not have any idea how much oil is spilling into the Gulf and it is highly doubtful that the amount is only 2oo,ooo gallons -it is probably much more oil than they are reporting, and they are untrustworthy at this point about any clarity in the matter.

TAGS: BP, BP America, BP oil spill, Gulf of mexico,  NYSE:BP, NYSE: Hal, NYSE:RIG, Senate Energy and Natural Resources, Transocean, Finance, Senate Energy and Natural Resources Committee, Tim Probert, Steven Newman, Lamar McKay, BP Oil Hearing.

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Visit msnbc.com for breaking news, world news, and news about the economy

The last point to remember is when BP Oil had done its due diligence in mapping the undersea oil fields and would have known the danger, the assumption of risk, and the fact that they did not have the competence to completely ensure there would be no spill. Also BP would have to have known that the pressure of such an oil bed would cause a major catastrophe if the oil drill was not capped or if an emergency would have occurred.  In order to do mapping BP would have to have geological studies and should not have requested drilling

As a result of the Gulf Oil Spill the Canadian authorities are stopping plans to drill in the Lancaster Sound area which is near to the wildlife rich area of the Northwest Passage.

BP has been very effective in evading blame and responsibility while damaging its own brand but still came to rape the continental shelf off of the United States only to leave a disaster at our door.