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BP News And Comment

According to an NYT story: “BP began collecting crude oil on Wednesday from a second containment system that the company hopes will help stem the thousands of barrels escaping from its damaged well in the Gulf of Mexico, an amount that scientists said could be as high as 60,000 barrels a day. The company is siphoning the oil through a series of pipes and hoses to a ship, which will then clean and burn the oil and gas mixture in a processing device.”

John Schwartz of the NYT has an article today discussing what sort of criminal charges might brought against executives and employees of BP. Among the possible bases for prosecution—the Migratory Bird Treaty Act. The is something truly bizarre about a society that would throw a businessman in jail for the death of a bird.

To date, according Christine Hauser’s NYT article, investors in BP have $88 billion in equity. Investing in common stock during the 21st century is like lending money to kings during the 18th century. The Zeitgeist is against you.

Richard Epstein on BP’s Liability: An opinion piece from the WSJ.

Jonah Goldberg: an NRO article on why oil is, still, the “green” fuel.