A truly bizarre international incident has gone largely unnoticed, even though it is one of the most shameless shakedowns of an American company by another country in recent memory. What is happening now in Brazil could easily scare off U.S. companies that may be looking to do business overseas.
The Great Debate
The following is a guest post by Mark Davis, a senior research fellow and director of the Tulane Institute on Water Resources Law and Policy at Tulane Law School. The opinions expressed are his own.
The catastrophic blowout at Macondo has sliced 40 percent off BP’s market capitalisation, and led analysts to speculate about lasting reductions in deepwater drilling and the resulting impact on both long-term oil supply and the fate of climate change legislation.
from The Great Debate UK:
-Kees Willemse is professor of off-shore engineering, Delft University. The opinions expressed are his own.-