Tony Hayward

By Abid Ali in Business on July 27th, 2010
Photo by Reuters

Tony Hayward paid a heavy price.

In stepping down as the chief executive of BP he’ll cushion the blow with a 1.6 million dollar pay-off, and that does not include his pension pot of 900,000 dollars a year.

A heavy price when we consider the Lloyd Blankfien is still the chief executive of Goldman Sachs and Toyota’s Akio Toyoda is still the president. 

It will be a matter of time before Transocean, the owner of the drilling rig BP was leasing, and oil engineering contract Halliburton have to answer for their actions. All the signs are that BP was not to blame.

By Nick Spicer in Americas on June 15th, 2010
Picture from AFP

Out of the murky oil darkening the economic future, and shorelines, of the Gulf of Mexico comes, fittingly, dark humour.

What does BP stand for?

Certainly not “Beyond Petroleum.”

That’s just “greenwashing,” an American environmentalist recently told me in New Orleans.

The American blogosphere prefers these:

Broken Pipes.

Blackened Pelicans.

Beyond the Pale.

And, as BP’s CEO Tony Hayward heads to Congress to face questions this week, there’s a new BP sobriquet, tailor-made for the $4 million-a-year man theoretically in charge of the cleanup.