Another BP gem

One of BP's contractors on the ill-fated Transocean-owned Macondo platform has paid BP $75 million in a settlement to claims made by BP. Said a Deutsche Bank analyst, "The decision to settle potentially speaks more loudly that the Macondo disaster reflected failings across the oil and gas industry rather than... gross negligence on the behalf of BP”. Once again Ned reminds his friends, that we have met the enemy and he is us.