oil spill

CNBC: Punish BP Shareholders?

Submitted by Peter Flaherty on Fri, 07/16/2010 - 12:56

Today I discussed BP’s capping of the well and whether BP shareholders should be punished with Dan Weiss of the Center for American Progress, and CNBC hosts Larry Kudlow and Trish Regan. Here is a transcript:

CNBC: Flaherty Says White House Allies Cashing in on BP

Submitted by Peter Flaherty on Mon, 06/21/2010 - 14:38

Today I discussed whether BP can ever get it right in the wake of Tony Hayward's yacht outing with John Kilduff of Round Earth Capital and CNBC hosts Trish Regan, Melissa Francis and Larry Kudlow. Here's a transcript:

Yacht Race Is Final Straw for BP’s Tony Hayward

Submitted by Peter Flaherty on Sat, 06/19/2010 - 12:34

Tony Haywards Yacht According to the Associated Press:

The BP CEO is attending a yacht race off the Isle of Wight in southern England today, a company spokeswoman said.

Sheila Williams says Hayward took time off his duties handling the oil spill catastrophe in the Gulf of Mexico to see his boat "Bob" participate in the J.P. Morgan Asset Management Round the Island Race on Saturday.

If this report is true, Hayward must go. Earlier in the week, I criticized the House hearings as political theater. I thought that Hayward was reluctant to answer many questions because of the criminal investigation announced by Attorney General Holder. Even if set up for a public relations fall, Hayward was at least rational to try protect himself from criminal liability.

Obama Failing Leadership Test on BP Oil Disaster

Submitted by Peter Flaherty on Wed, 06/16/2010 - 11:41

Instead of trying to hijack BP’s capital or to use the disaster to advance Cap and Trade, Obama should be trying to stop the leak.

Since the April 20 disaster, I have made separate trips to West Texas and Tulsa. Oil men in both places were full of ideas about how to deal with this crisis. Obama should have put together a commission of technical experts so that the decisions of BP can be critically evaluated. Right now, Obama claims that the U.S. government is in charge of the operation, but it is really at the mercy of BP’s decision making at the well site.

CNBC: Flaherty Says BP Escrow Fund is Political Posturing

Submitted by Peter Flaherty on Tue, 06/15/2010 - 15:44

This afternoon, I debated Steve Ellis of Taxpayers for Common Sense on Obama's plan to establish a $20 billion escrow fund for BP oil disaster victims, along with CNBC hosts are Mandy Drury, Sue Herera and Tyler Mathison. Here's a transcript:

Flaherty: Pelosi Doesn't Know What She is Talking About

Submitted by Peter Flaherty on Sun, 06/13/2010 - 14:52

Friday, June 11, 2010- Peter Flaherty, President of the National Legal and Policy Center, is interviewed by Sally Kidd of Hearst TV on the BP oil spill. Hearst TV provides news reports to 30 broadcast TV stations. Here's a transcript:

Suspending BP Dividend Dumb Idea

Submitted by Peter Flaherty on Wed, 06/09/2010 - 13:53

Demanding that BP suspend its dividend is an idea completely without merit. The dividend has nothing to do with BP’s ability to clean up from the disaster or pay damages. Even in a worst-case scenario, BP now has the ability to pay all claims.

Dividends go to shareholders, who include just about anyone who has a pension or owns mutual funds. Dividends are a share of earnings to which all shareholders are entitled.

BP’s management is responsible for the disaster. Although executives own stock, the vast majority of shares are held by people who had nothing to do with this mess.