There have been inevitable comparisons between the BP oil spill and the Exxon Valdez but don't read too much into that. BP's disaster is a lot worse. As the Washington Post puts it, it's roughly one Valdez spill every week or nearly two Olympic-size swimming pools of oil every day.
The extent of the environmental damage is just mind boggling. What will be left after the oil spill? Not much, according to The Times. Time Magazine meanwhile warns that it can get a lot worse.
No surprises then that the BBC reports that the BP board will decide on Monday to defer the dividend to shareholders until it can quantify the extent of the damage. We can expect to see the BP share price to plummet even more after that as investors sell out.
Here's an idea for BP. The company is a sponsor of the World Cup. That money would be better spent cleaning up the Gulf.
After all, the New York Daily News reports that BP is pissing everyone off now with its claims that it brightening the World Cup for everyone. As opposed to its efforts in the Gulf. When is this company going to learn?
BP = Brown Planet.