“Plug the damn hole!”

Obama plugging the wrong holes in BP Disaster?

By —— Bio and Archives--May 26, 2010

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The BP oil story is taking on dimensions as epic as the April 20 spill. 

Oil giant BP PLC, it seems,  has now owned up to its congressional confessors that a decision to continue work on an oil well in the Gulf of Mexico after a test warned that something was wrong may have been a “fundamental mistake”.  That’s the latest, at least according to a memo released by two lawmakers yesterday.


“The document describes a wide array of mistakes in the fateful final hours aboard the Deep Water Horizon—but the main revelation is that BP now says there was a clear warning sign of a `very large abnormality’ in the well, but the work proceeded anyway.

“The rig exploded about two hours later.” (The Wall Street Journal, May 26, 2010).

The power of congress in technicolor.

President Barack Obama’s take on the ongoing environmental disaster is “Plug the damn hole!”  His order to the minions who were briefing him on the latest Deep Water Horizon horrors.

Plugging the damn hole could be a Freudian slip for Obama, who has, figuratively speaking, at least may be plugging other big holes in the BP story: The largest shareholder (institutional of BP stock in the USA at least is Vanguard Mutual Funds).  The Barack Obama family has Vanguard funds as their top—in fact—only investment in funds. 

It was Michelle Obama’s favorite mutual fund, too.  (Hope you’re reading this, Sarah Palin).

Interestingly enough, Michelle got rid of her holdings in Vanguard in 2008.  A good move in light of the likely impact BP would have on the returns for that fund this year. Unless an insider with the talents of a fortune teller, Michelle couldn’t have known the fate of BP in advance.

It is a fact that the Chairman of the Board of Directors of BP is Peter D. Sutherland KCMG.  Sutherland also happens to be Managing Director of Goldman Sachs International.  He is also on the membership for the Trilateral Commission

Count among Sutherland clout his name, “The Father of Globalization” and that without him there would be “no WTO.”

Goldman Sachs may be Obama’s biggest backer.

Note that there is also a link between Goldman Sachs and the Corexit dispersant used by BP. (Google Goldman Sachs Corexit).

Speaking of reading crystal balls with a Midas touch: Transocean is the company which leased and operated Deep Water Horizon for BP.

Goldman Sachs shorted Transocean stock days before the disaster

How could this be? Transocean was the company running the actual rig that exploded.  No big deal because Transocean merely moved its headquarters to Switzerland and took out an insurance policy on the rig that blew—netting them a whopping $270-million.

Meanwhile, that’s one story you won’t see leaking out from the Old Boys Club called Congress.

It’s all a conspiracy, right?


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Judi McLeod -- Bio and Archives | Comments

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Judi McLeod is an award-winning journalist with 30 years’ experience in the print media. A former Toronto Sun columnist, she also worked for the Kingston Whig Standard. Her work has appeared on Rush Limbaugh, Newsmax.com, Drudge Report, Foxnews.com.

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