The Hindu, 09-06-2010: BP: will donate oil spill revenue to Gulf wildlife fund
P's C: I shed a tear of joy when I read this. These are the corporations that have set the benchmark for philanthropy. While small businesses are making money out there in the most unethical manner possible, here is one behemoth who is setting the standards for responsible exploitation, I mean business.
Just look at the numbers, and you'll agree with me. We have around 10-20000 barrels per day spewing out, and BP collecting around 1000 barrels per day as of yesterday. With oil averaging at USD 80 a barrel last quarter, BP will be donating a massive USD 80,000 per day. How many companies do we know that are this generous? Very few. The only other companies that come to mind are Shell and Philip Morris.
An irrelevant footnote to the above would be that BP's turnover in 2009 was only USD 246,000,000,000, or and insignificant USD 673,900,000 per day, of which a mind-blowing 0.01% for the relatives of oil-drowned wildlife.
I don't know why I am saying this, but if you need to be part of legalized crime, be an oil company.
Bill Gates Mother told Bill Gates
ReplyDelete"Much is expected of those whom the Lord has given Much!". The Richest Man in the world also happens to be its largest donor {Let us ignore facts on whether he is No 2 or No 4 in the world right now}
Sadly the same cannot be said of Microsoft- That will be excuse for BP! A responsible Corporate Citizen has to keep Shareholder's interest and not Guiness Book of World Records of being the largest donor in mind, however much its profits or revenues are. In fact BP's and its Shareholders interests lie in informing Obama and US to go for a hike , shut down US operations and make money in remaining parts of the world. BP may not be able to do this for political reasons but this is the right step in the interest of its shareholders
As for the Oil spill- It is US's Problem- You have the world's largest Oil consumer facing the problem of Oil Spill in its backyard- It should clean it up. US can spend thousands of Billions of Dollars on weapons of Mass Destruction which did not exist but cries foul when it can spend one hundredth of it and clean it up with or without BP's support!
This is my contrarian view