Wyden: BP should put accountability ahead of profits
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Jun 2
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Posted in Environment. |
In the wake of the Gulf Coast devastation caused by the massive oil leak, Senators Ron Wyden and Chuck Schumer (D-NY) have a hard message for BP's executives: put accountability before shareholder profits.
With damages soaring to tens of billions of dollars, Senator Wyden co-authored a letter to BP CEO Tony Hayward demanding that the company wait to issue shareholder dividends until they fully understand the scope of the damage done to the Gulf Coast region and what it will cost to clean up their mess. This comes in the wake of Senator Wyden standing up to rig operator Transocean, which was similarly talking about putting profits before accountability.
“We find it unfathomable that BP would pay out a dividend to shareholders before the total cost of BP’s oil spill clean-up is estimated,” Senators Wyden and Schumer wrote.
To read the full letter and for additional coverage of Senator Wyden's efforts, please click here.
Posted on June 2, 2010 in Environment.
