As unbelievable as it may sound, BP (NYSE:BP) is getting a $308 million grant from the federal government. The money is to be used to build a power plant on cotton and alfalfa fields in California's farmland. Part of the money is coming from federal programs while the other part is coming from stimulus funds.
The part coming from the stimulus funds alone is the second largest amount given to a corporation, and the largest in the country benefiting private interests. The grant was announced last year by The U.S. Department of Energy to Hydrogen Energy California, a joint partnership with BP.
Tom Frantz, a local environmental advocate said, "If you're trying to get money out of them, why are you giving them money? If I was the government right now, I would not give BP $300 million to do anything."
When questioned, BP declined comment, but CEO Tony Hayward in 2007 said during the announcement of this venture that, "projects such as these have the potential to help deliver the carbon emission reductions which companies and countries around the world are now seeking."
One event has nothing to do with the other. As long as the grant process was legit, who cares?
ReplyDeleteJobs for the US is good for the US and Europe. Keep investing BP!
ReplyDeleteLeave BP alone. What a slanted article tone
ReplyDeleteQuoting a statement from 2007!!! Debbie... you really are a piece of work... why this crap keeps showing up on google news???
ReplyDeleteLegal disclaimer: "For entertainment purposes only; information provided may be inaccurate, incomplete, or out of date. No warranties or guarantees provided."
ReplyDeleteDeborah, your article with catchy titles seem to attract lot of disgruntled shareholders (bulls) of BP who never like the tone because it puts downward pressure to the share price.
ReplyDeleteConsidering the amount of volatility in the BP share price, you could be setting the trend of BP shares on a daily basis.
I suspect, are you or your editorial team shorting the shares privately to make quick bucks???
$300 million dollars? Thats not too far off what Union Carbide paid after the infamous Bhopal disaster which killed nearly 20,000 people.
ReplyDeleteUnrelated, sure, but it just amazes me that BP are being beaten into the ground by American politicians and citizens alike given the behaviour of firms like union carbide over the years.
The people living and working in the states on the Gulf of Mexico should thank God that BP is not an American company.
ReplyDeleteI hope BP don't ask Halliburton or Anadarko to assist
ReplyDeletewith the engineering.
BP should pull out of America, AND refuse to sell them any more oil.
ReplyDeleteThat will make them squeal.
Hi Debbie,
ReplyDeleteI once had an office junior working for me in my company with the same name. She wasn't much good at evaluating stuff either, but she was a charming individual.
Anyhow, my Debbie got herself a good job working for a local bank after she had been introduced to commercial realities. She was a nice girl. I lost touch after a while, but I am sure that she married, had kids and so on. In fact a success story, given her limited capabilities.
Have you ever considered the possibility of moving away from economic reporting, which clearly is not your forte into something less stressful?
It would be a relief to us all, although I must say that I have come to enjoy your forays into the field, however limited they might be.
With my sincere wishes
She would be better off making another Debbie Does Dallas in hopes of striking that fortune! I think most of us would vomit from watching, but i'm sure a few short orders might enjoy a freak show.
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