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Last month I wrote about the possibility that BP p.l.c ADR (BP) may have knowingly turned a blind eye to conditions in its Prudhoe Bay pipelines that could have prevented the whole mess from occurring in the first place. At the time, these reports were mainly coming from employees, but now accusations have resumed and things aren't looking to great for the oil mogul.Today the country's top regulator for pipelines backed up these accusations, saying that the company failed to take steps common in the industry to repair corrosion that they were warned about in their pipelines. I must admit that I am not too surprised with this recent news. I have written a lot of BP and the more I have read about the company the more I have become weary of just what exactly has been going on up in Alaska.
The company was hit with a couple pretty nasty statements today from lawmakers on both sides of the aisle:
- Rep. Joe Barton, R-Texas (chairman of the full regulatory committee): "BP's policies are as rusty as its pipelines." And he further went on to raise the question of whether or not BP should be allowed to continue to run the Prudhoe Bay pipeline
- Rep. Gary Welden, R-Ore. : was quoted as saying that BP actually stood for "broken pipeline."
- Rep. Diana DeGette, D-Colo.: "I applaud BP for trying to move beyond petroleum, but maybe it should start by sticking to the basics and begin to focus on rudimentary pipe maintenance."
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