The geyser of oil and less than cheery news on the Gulf oil spill continues unabated. The news updates of the day include:

Reports from a Congressional briefing that suggest, as many have speculated, that the mud was removed despite heavy gas output, a warning sign, with BP admitting its workers may have made a "fundamental mistake"

More discussion of BP's next line of attack, the "top kill" (Economic Populist has a good compilation of charts and related videos). Stories that suggest that BP could be liable for as much as $60 billion in fines (Reuters comes in at a mere $10 billion, hat tip Clusterstock)

But the one that got my attention was the exclusive interview of BP Chairman Carl-Henric Svanberg in the Financial Times, in which he remarked:

The US is a big and important market for BP, and BP is also a big and important company for the US, with its contribution to drilling and oil and gas production. So the position goes both ways.

This is not the first time something has gone wrong in this industry, but the industry has moved on.

Yves here. This is simply stunning. First, the BP chairman essentially puts his company on an equal footing as the United States, implying their relation is not merely reciprocal, but equal. BP doesn't even approach the importance of Microsoft in its heyday, a-not-very-tamed provider of a near monopoly service. And his posture "this is just one problem like others, no biggie" is an offense to common sense and decency.

Many readers have pointed to signs that BP's order of battle in combatting the leak is seeking to maximize recovery rather than minimize damage, again a sign of backwards priorities. The widely cited gold standard for crisis management, Johnson & Johnson's 1982 Tylenol tamperings, had the company immediately doing whatever it took, no matter how uneconomical it seemed, to protect the public. BP instead has been engaging in old school conduct: keep a wrap on information as long as possible, minimize outside input, and (presumably) contain costs.

What is worse is the complete lack of any apology or sign of remorse. Even if BP engaged in more or less the same conduct, it would be far more canny for its top officials to make great shows of empathy for all…

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