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Friday, June 11, 2010

BP Stock Plummets - Congressman Throws Tarballs

As reported in the Journel Sentinel, Congressman James Sensenbrenner took some shots at President Obama over the government's handling of the BP oil spill in the Gulf of Mexico.
JS Online Excerpt:
In a strongly worded letter to the president Wednesday, Sensenbrenner called the federal government's response to the crisis "erratic" and suggested that the administration's "apparent lack of regulatory oversight" allowed safety problems within BP to go undetected.
Sensenbrenner owns 3,604 shares of BP.
CBS News Excerpt:
"Before the spill happened, this stock, BP, was trading at more than $60 a share," said CBS News business and economics correspondent Rebecca Jarvis. "That was back before April 20. Now it is below $30 a share. That free fall has halved the company's stock. And just to put the value into perspective, the company's stock itself has lost $90 billion for shareholders."
Ever wonder how a BP shareholder would vote on some key energy issues in Congress?
Sensenbrenner On The Issues

Voted NO on tax incentives for renewable energy.
Voted NO on investing in homegrown biofuel.
Voted NO on removing oil & gas exploration subsidies.
Voted NO on keeping moratorium on drilling for oil offshore.
Voted NO on raising CAFE standards; incentives for alternative fuels.
Voted NO on $9.7B for Amtrak improvements and operation thru 2013. (Jun 2008)
Voted NO on increasing AMTRAK funding by adding $214M to $900M. (Jun 2006)


Anonymous said...

You just have to laugh when a Republican complains about a "lack of regulatory oversight". Isn't "less government" their new motto?

RichE95 said...

You just have to laugh when a Democrat thinks President Obama is being unfairly criticized over the oil spill. I actually agree that some criticism of him is actually unfair but I don't feel sorry for him since he has made a career of doing the same thing. His nickname could be "Finger Pointer in Chief"

Anonymous said...

Sensenbrenner, as a Bush rubber stamp, for sure approved of the deregulation of offshore oil drilling that was wrought by 30 years of reactionary Republicans and Republican-lite economic and energy policy. It all started when our answer to Lenin (he received a personality cult-like funeral coverage worthy of Lenin), Reagan, ripped the solar collectors off the white house.

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