Former BP Chairman and current BP CEO both dumped stocks in weeks before disaster
Paul Joseph Watson
Thursday, June 17, 2010
BP was aware of cracks appearing in the Macondo well as far back as February, right around the time Goldman Sachs and BP Chairman Tony Hayward were busy dumping their stocks in the company on the eve of the explosion that led to the oil spill, according to information uncovered by congressional investigators.
The Mining and Mineral Services agency released documents to Bloomberg indicating that BP “was trying to seal cracks in the well about 40 miles (64 kilometers) off the Louisiana coast,” according to the report.
The fissures, which BP began to attempt to fix on February 13, could have played a role in the disaster, though this is a question still being explored by investigators. Improperly sealed, the cracks cause explosive natural gas to rush up the shaft.
“The company attempted a “cement squeeze,” which involves pumping cement to seal the fissures, according to a well activity report. Over the following week the company made repeated attempts to plug cracks that were draining expensive drilling fluid, known as “mud,” into the surrounding rocks,” states the report.
As we previously highlighted, eyewitness evidence indicates that Deepwater Horizon managers knew that the BP oil rig had major problems before its explosion on April 20. A crew member who rescued burning workers on the rig told Houston attorney Tony Buzbee of a conversation between Deepwater Horizon installation manager Jimmy Harrell and someone in Houston. According to the witness, Harrell was screaming, “Are you fucking happy? Are you fucking happy? The rig’s on fire! I told you this was gonna happen.”
The fact that BP managers were aware of problems with the rig and were seemingly unconcerned about fixing them only lends more weight to the already startling indications of some having foreknowledge of the disaster.
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As we highlighted last week, on page 37 of British Petroleum’s own investigative report into the oil spill, it is stated that the Hydraulic Control System on equipment designed to automatically seal the well in an emergency was modified without BP’s knowledge sometime before the explosion.
Highly suspicious stock and share trades by people connected to BP before the explosion indicate some extent of foreknowledge.
Goldman Sachs dumped 44% of its shares in BP Oil during the first quarter of 2010 – shares that subsequently lost 36 percent of their value, equating to $96 million. The current chairman of Goldman Sachs is Bilderberg luminary Peter Sutherland, who is also the former chairman of British Petroleum.
Furthermore, as reported by the London Telegraph on June 5th, Tony Hayward, the current BP CEO sold £1.4 million of his shares in the fuel giant weeks before the spill.
On April 12th, just over one week before the Deepwater Horizon rig exploded, Halliburton, the world’s second largest oilfield services corporation, surprised some by acquiring Boots & Coots, a relatively small but vastly experienced oil well control company.
Halliburton is named in the majority of some two dozen lawsuits filed since the explosion by Gulf Coast people and businesses who claim that the company is to blame for the disaster.
Halliburton was forced to admit in testimony at a congressional hearing last month that it carried out a cementing operation 20 hours before the Gulf of Mexico rig went up in flames. The lawsuits claim that four Halliburton workers stationed on the rig improperly capped the well.
This article was posted: Thursday, June 17, 2010 at 11:31 am