Pardon My Politics

Prediction: Before the rooster crows another 60 times, BP will be seeking a government bailout. If you thought the Wall Street bailout debate was nasty, wait until you see the BP bailout debate. We will be told that British Petroleum is too big to fail.

The world has grown a dis­turb­ing ad­dic­tion for oil. Many oil fields around the world are head­ed for de­ple­tion. Na­tion­al statis­tics are un­re­li­able at best, or clas­si­fied at worst, and na­tion­al oil com­pa­nies con­trol up to 80 per­cent of oil and nat­u­ral gas re­serves.