Blow to rebuilding hopes as BP backs out

[kskiska]

Chief oil industry executive cites security and political fears

BP's chief executive delivered a serious setback to hopes of rebuilding Iraq when he said that the oil company has no future there.

John Browne, one of Tony Blair's favourite industrialists, indicated he had given up on Iraq because the political and security situation in the country had deteriorated so much.

Yet only 18 months ago he was extremely enthusiastic about prospects, lobbying in Washington and London to ensure American rivals did not cut him out of the action.

"We need a government, we need laws and we need decisions. We have not got any of that yet. A whole range of steps need to be taken," said the BP boss as he unveiled new record profits this week.

"It's not obvious to me you need foreign oil companies to do that ." He added that private oil firms could destabilise an already sensitive situation and perhaps it should be left to local state-owned groups.

more…
http://www.guardian.co.uk/Iraq/Story/0,2763,1205701,00.html

[Demonaut]

1. BP has a good enviromental record, all the power to them for

making this decision

[callous taoboy]

9. Um-

except on the North Slope, AK. Very poor record.

[Fire Bush]

2. Kind of a no brainer there.

[newyawker99]

4. Hi Fire Bush!!

Welcome to DU!! :toast:

[yardwork]

6. Welcome to DU!

Good for BP for speaking the truth. I'll be going out of my way to buy gas at the green and yellow stations instead of Exxon. It's the lesser of two evils.

[Jack Rabbit]

3. One of the world's largest petroleum companies is backing out of Iraq

Now we know that Bush's little colonial scheme is an abject failure.

What more evidence do we need?

[DoYouEverWonder]

5. Good, give Iraq back to the Iraqi people

let them run their own industries, and then we can buy their oil at a fair price.

The price for Bu$her's privatized oil is way too high.

[Just Me]

7. Wow. I am really impressed!!!

"He added that private oil firms could destabilise an already sensitive situation and perhaps it should be left to local state-owned groups."

Isn't that like a pro-Iraq, pro-democracy, anti-imperialisticapitalist statement?

WOW!!!! :bounce:

[yellowcanine]

8. "Ship sinking - must flee!" say the rats.

Bush has the anti-Midas touch - everything he touches turns to shit.