Obama: stop baying for BP blood. Nationalise oil instead

by SETH FREEDMAN

The US president’s scapegoating of BP is a distraction; the only way to clean up the oil industry is to put it under public control.

In Sonia Shah’s definitive history of the oil industry, Crude, the base greed and exploitative nature of oil company executives is detailed time and again, and the laissez-faire attitude of the respective governments involved in green-lighting their activities is an ubiquitous trait throughout every stage of the process. Public and private sector prospectors thought nothing of wreaking environmental havoc wherever they sought black gold, more often than not causing massive social upheaval to boot in the countries into which they expanded.

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