Okay, sorry that I got a bit overheated on the last post. It is a combination of watching what I regard as very poor public service on the part of the federales coordinating the information flow out of the Gulf and of an anger towards BP for not just screwing up this well and polluting a portion of the Gulf but for giving us a lot of images and memes to hook the brewing wave of anger and fear onto.
- There are a lot of great people who work at BP. I'm sure this Suttles character, the COO they are trotting out to interface on this is a genuinely good guy who is appalled at the magnitude of this spill.
- At the end of the day the final environmental impact may not be devastating, but that won't really matter because...
- ...this spill is going to serve up a number of memes that I believe will gain strength from the brewing storm of anger out there. Look at what happened after the 1969 Union Oil spill off the California coast and the ramifications of that spill on the regulatory environment (not that it was all bad, but net net, EPA has been a political, not a scientific, organization from day one and many of its regs show that - another rant for another time). This could be orders of magnitude worse in the eventual blowback.
- Contemplating setting off a nuclear weapon in a badly characterized and dynamic geologic formation like this is not what I consider a great policy move (the rad effects would be minimal, the PR effects would, in my opinion, by catastrophic, especially if it failed).
I'll try and keep the rants a bit more even-headed and the cussing limited from here on out. It is sad to watch the vehicles that will be driven by the anger of this Bear Market get built in front of our eyes. BP as environmental scapegoat. Goldman as finance scapegoat. Now we will wait and see if the polarization extends to groups of individuals. Talking about this in theory is one thing, watching the socionomic model come to life is a whole other beast.
Enjoy the rest of your weekend. For those in the U.S., enjoy Memorial Day and remember its message.
UPDATE: John Robb's "No More Katrinas?" is a must-read on the subject of how this disaster is being played by corporate interests and a compliant federal government.