Lord Tebbit and Boris Johnson come to the aid of BP as Cameron backs Obamas stance
http://www.dailymail.co.uk/news/arti...-rhetoric.html
- Cameron fails to defend BP and sides with Obama
- Boris Johnson: 'Buck passing and name calling' must end
- Tebbit: 'This is partisan political Presidential petulance'
- UK pension funds hit as shares plunge 6.7% on the FTSE
- Obama warns oil giant not to pay shareholder dividend
- BP chief Hayward summoned to meet Obama next week
- He invites families of workers killed in rig blast to White House
- Anger at President's use of old name - British Petroleum
- Warning BP could be forced to compensate other oil firms
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David Cameron today refused to publicly back BP and instead expressed his sympathy for Barack Obama who has been an outspoken critic of the oil giant's handling of the spill in the Gulf of Mexico. The Prime Minister at last weighed into the row after fellow Tory Boris Johnson ramped up the pressure by accusing the U.S. President of 'buck passing' and 'beating up' the British-based company. But instead of issuing a robust defence of one of the UK's biggest firms, he insisted he understood the U.S. leader's 'frustration' at the environmental catastrophe.
BP shares slumped again today, down 12 per cent to a 13-year-low on the FTSE at one point, after the U.S. threatened to block its dividend payments and amid increasing speculation it could be taken over. They eventually ended the day down 6.7 per cent on 365.50p. There was some good news as stocks rallied on Wall Street. They 16 per cent last night but were up 11 per cent when the Dow Jones opened this afternoon after the company insisted it could cover the costs of the disaster. Conservative Mayor of London Mr Johnson and former trade and industry secretary Lord Tebbit have both now openly attacked Mr Obama's anti-BP rhetoric, accusing him of 'petulance' and trying to shift the blame.
And experts have accused him of having his 'boot on the throat' of British pensioners because the company is such a major contributor to UK pension schemes. But Mr Cameron, speaking during a visit to Kabul, was at odds with his own party as he insisted he saw the U.S. leader's point of view. 'I understand the U.S. government's frustration because it is a catastrophe for the environment. Obviously everyone wants everything to be done that can be done. Of course that is something I will be discussing with the American president,' he said. His comments came as the U.S. leader piled more pressure on BP by inviting relatives of the 11 workers killed in the rig explosion in the Gulf of Mexico to visit him at the White House.
White House aides said he offered his condolences to the families at the reception today but they were also asked if the victims ever expressed concerns about safety aboard the rig. Mr Obama is now set to meet BP chief Tony Hayward next week, according to White House sources. The leader has already said the executive should be sacked, setting the stage for a tense meeting. 'Though no final decision has been made, White House officials are planning to meet with Hayward, and the President will also likely have a few words to say to him,' one source told ABC.
Boris Johnson and Lord Tebbit
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BP was Britain's biggest company before the explosion at the Deepwater Horizon rig on April 20 and worth around £122billion but is valued has now halved. It is facing a huge billion-pound bill for the clean-up operation but its main worry is traders dumping their stocks due to fears of costly legal action and possible punishment by the U.S. Government. The company insisted today that its balance sheet was strong enough to cover all the costs of the spill but traders still rushed to ditch their stocks. They took fright after reports the U.S. Department of Justice was planning to 'take action' to make sure it can pay for any claims arising from the spill - construed as a threat to the dividend.
BP dividends account for around £1 in every £7 of share payouts from UK blue-chip firms and have not been slashed since 1992. U.S. Interior Secretary Ken Salazar has also now told the Senate it will be asked to repay salaries to workers laid off because of the six-month ban on deepwater drilling imposed since the spill. In a further sign of public fury across the Atlantic, the windows of a BP petrol station in Memphis were shot out this week. Mr Obama's attacks - in the past week he has said he wants to know whose 'ass to kick' at BP and said its chief executive Tony Hayward should be sacked - have only fuelled concern for the firm. He has also sparked anger in the UK by insisting on using BP's former name - British Petroleum - which was axed back in 1998. Speculation is increasing that the oil giant could soon be a take-over target, with PetroChina Ltd. regarded as one potential suitor.
I am sick of this country being trampled upon, both by Europe and by the United States with Obama who is purposely pinning blames on BP in hope to up his ratings, not to mention the fact he keeps calling BP 'British' when BP changed its name in 1998. The man has no concept of anglo-american relations and seems to very much hate this country or dislike us (he has in the past ignored Gordon Brown). I am glad we have politicians like Boris Johnson and Lord Tebbit who will at least stand up for the United Kingdom even against its closest allies when they are wrong.
As for Dave, meet Blair v2.
Thoughts?
