BP CEO Tony Hayward - A dead man walking!

Posted on: 21 June 2010 by Mark O'haire

US President Barack Obama’s scathing criticism of the Gulf of Mexico oil gusher looks set to force out BP chief executive Tony Hayward and seriously damage British pension fund prospects.

Last week the chairman of BP said he fully supported his CEO, Tony Hayward, after seeing President Obama. Hayward then rather foolishly revealed to the Senate Committee investigating the oil spill that he earned $6million. To compound his lack of judgement, this weekend he was out sailing around the Isle of Wight with his teenage son and was condemned by Obama’s chief of staff for “getting his life back” and being the worst PR man in the world.

Well that he may be but PR men don’t make much happen in this world other than promoting flim-flam or hiding things (and America certainly knows how to do that). No, Mr Hayward is an oilman through and through – a highly qualified geologist who has worked at BP for 20 years. He knows what he’s doing but isn’t very good at telling people about it.

What would I prefer? An average brain surgeon who knew how to tell a good story, or a good one who was not up to much when it came to bullshitting.

Of course in the USA bullshitting comes before talent, that’s why they don’t like Hayward. So what will happen next – I suspect Hayward will fall on his sword to appease Obama and the Senate. Perhaps Hayward should have been more guarded with the information he has allowed into the media, after all, the Obama PR machine has had no trouble in glossing over unpalatable tales of BP's political donations to his election campaign.

Tony Hayward will move on to ‘pursue his career in other directions‘. BP will, or will very nearly be bankrupted by fines, penalties and legal action that will last the next 30 years. British pension funds will suffer as the fines and fees sap the money from the company. US oil companies will hover like vultures over the pickings of BP and the saviour of the free world, Obama, will win his mid-term elections.

America – you make me sick!

A working nation?

There was a nice little news item in the paper this weekend – only four out of five people eligible to work, actually work. The other one in five are kept on unemployment and other benefits. I think this will change after the Budget on Tuesday – and a good job, too!

George Osborne has yet again stressed that the Budget will be very tough and this degree of pressure will remain on the economy for the remaining five years of this parliament. I hate to say it but I did tell you all this two months ago. We are going to have a very, very rough time – so enjoy the next 48 hours! We’re a long time dead!

I want an iPad

A friend of mine showed me his new Apple iPad over the weekend (I don’t think it was a criminal offence!). Now I’m not a geek or a gadget buyer but this little toy is really something special. In one flat screen you have your music collection, your favourite films and books as well as being able to read your emails, surf the web and tune into your chosen TV channel. For £500 it’s a bargain  (well it would be if it wasn’t for the impending Budget)!

Hint to family for Christmas: it’s a flat, oblong apple that you don’t buy at the greengrocers!

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