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from The Great Debate:

How to trust BP again

The Environmental Protection Agency is allowing BP to once again bid on new leases in the Gulf of Mexico -- which could happen as early as Wednesday.

As a condition of lifting its ban, the E.P.A. last week issued 53 pages of requirements for the company, which now must create a beefed-up code of conduct for employees; establish a zero tolerance policy for retaliation against whistleblowers; train senior leaders in ethics, and dole out bonuses related to issues like safety and environmental sustainability.

But BP had much of that in place before the 2010 Deepwater Horizon disaster, which killed 11 people and spilled millions of gallons of oil into the Gulf of Mexico. During my time as a manager of policy development at BP (which ended in 2008), I had to certify every year that I complied with the company’s code of conduct. I used the company hotline when I thought a manager was behaving inappropriately, and was impressed by how my complaint was handled.

Then came Deepwater Horizon. I was as appalled and angry as everyone else in the aftermath of the explosion, as BP repeatedly failed to cap the gushing well and multiple investigations portrayed BP as a company that took too many risks and cut corners in pursuit of profits.

from Reuters Investigates:

BP – Tough to price in the consequences

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Two graphs tell an apparently conflicting story: analysts forecast a steady recovery in BP's dividends, but its valuation remains weak. Tom Bergin's close look at the potential costs facing BP as a result of its Gulf of Mexico oil spill helps explain the latter, but less so the former.

dividendsrange  pricebook

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