Post by Dave on Jun 19, 2010 8:17:27 GMT -5
Here's the real problem brewing...
The oil spill and credit crunch were bad. An oil crunch would be worse
Small print of BP Statistical Review of World Energy is troubling
Big as BP's problems are as a result of failed risk assessments, it will very probably soon become worse. Growing numbers of people doubt its annual review of oil reserves, published today. Society builds its oil dependency on key cultural statements of faith about secure supply, such as BP's annual announcement that there is 40 years of supply or more, and no danger of supply falling short of demand, so ambushing oil-addicted economies.
You would think that BP's risk-assessment failures in the Gulf, and in US refineries, would make the company measured, given the stakes in this particular assessment. The reverse seems true.
CONTINUED AT:
www.guardian.co.uk/commentisfree/cif-green/2010/jun/09/oil-spill-credit-crunch-bp
The oil spill and credit crunch were bad. An oil crunch would be worse
Small print of BP Statistical Review of World Energy is troubling
Big as BP's problems are as a result of failed risk assessments, it will very probably soon become worse. Growing numbers of people doubt its annual review of oil reserves, published today. Society builds its oil dependency on key cultural statements of faith about secure supply, such as BP's annual announcement that there is 40 years of supply or more, and no danger of supply falling short of demand, so ambushing oil-addicted economies.
You would think that BP's risk-assessment failures in the Gulf, and in US refineries, would make the company measured, given the stakes in this particular assessment. The reverse seems true.
CONTINUED AT:
www.guardian.co.uk/commentisfree/cif-green/2010/jun/09/oil-spill-credit-crunch-bp