BP CEO says oil spill blown out of proportion and Halliburton skipped tests
WASHINGTON – Halliburton Co. acknowledged that it skipped a critical test on the final formulation of cement used to seal BP's oil well before it blew out catastrophically in the Gulf of Mexico.
The company, which was BP's cementing contractor, came under increased scrutiny when investigators from the president's oil spill commission revealed Thursday that tests performed by the company before the deadly blowout showed the cement to be unstable.
Halliburton in a statement issued late Thursday night said it did not conduct a stability test on the final mix of cement after a last-minute change by BP added more of a certain ingredient. Earlier statements by the company had said tests showed the cement to be stable.
The cement mix's failure to prevent oil and gas from entering the well has been identified by BP and others as one of the causes of the accident, the largest offshore oil spill in U.S. history.
BP and Halliburton decided to use a foam slurry created by injecting nitrogen into cement to secure the bottom of the well, a decision outside experts have criticized.
That's just great, isn't it? Just remember what these a-holes are being paid to screw this world's environment with their fire from the hip approach to running a company. We all know that somebody in that company made their numbers required for the month by pushing a schedule to get that well up. Well congratulations!! I bet that well was brought online against unbelievable odds in such a short amount of time! Great job! Here's your bonus you won't have to payback after it blows up, that would look like an admission of guilt!
I'll leave you with the pics of these CEOs and their lovely pay rates to make your day go by painfully slow.
David J Lesar - Halliburton
$29.36 mil (#34)
5-YEAR COMPENSATION TOTAL
$58.87 mil
David J Lesar has been CEO of Halliburton (HAL) for 6 years. Mr. Lesar has been with the company for 13 years .The 53 year old executive ranks 7 within Oil & Gas Operations
EDUCATION
College: University of Wisconsin Madison BS '75
Graduate School: University of Wisconsin Madison MBA '78
Tony Hayward - BP
(Reuters) - The chief executive of Europe's largest oil company by production, BP Plc, enjoyed a 41 percent rise in total pay in 2009, even though profits dropped 45 percent.
Tony Hayward took home 4.01 million pounds ($6.03 million) in salary, cash bonus and share awards last year, up from 2.85 million pounds in 2008.
I'm sure the new CEO Bob Dudley will make more.
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