A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Thursday, April 14, 2011

BP face angry protests at AGM today

Oily protesters in action
The board of BP plc is likely to get the drilling of their corporate careers today. Unless they have imposed an iron grip on proceedings, in a Gaddafi-like manner, they will hear protests outside the hall and within it. Many angry fishermen, small business owners, state officials and others have become shareholders. The fact that in most corporate entities shareholders get fewer democratic rights than an oil rich autocracy is no reason not to try to have your say.

BP has a history of ducking and diving. Oil and water don't mix and the Gulf of Mexico experience proves that point exceptionally well. I do get a sense that BP is trying to make amends, as their website quite openly shows, with the orange tab (in stark contrast to the green) indicating "Gulf of Mexico restoration". However, a more contrite approach today would be helpful.

The Republican Party is against tax raising to help out with the current financial situation as they say this will stifle job creation. But it is the corporate mentality of being above the law, of riding roughshod over regulations that causes small business to suffer. Big business can clobber with impunity it seems. When they get caught out, they suffer for a while. But it is the enterprising business people who create their own businesses that can get knocked out of the water, literally.

Maybe saying sorry might be a better start than sitting on stage like a politburo ensemble batting questions into the long grass.


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