BP: Stop Blaming Us For The Leak, It Wasn't Our Fault

oil rig fire

Photo: US Coastguard

BP’s CEO Tony Hayward has re-affirmed both BP’s long-term future, and the company’s alleged innocence in regards to the gulf oil disaster.Forbes:

“I am absolutely confident that we can bounce back. We will bounce back stronger as a consequence of this, not weaker,” Hayward said from Houston.

“I think I have said all along that the company will be judged not on the basis of an accident that, you know, frankly was not our accident,” Hayward said.

He said “the real issue is the failure of the safety equipment,” a component called the blowout preventer which is not managed by BP.

“What I would say is that the relationship and the working together between BP and the various federal agencies is extraordinarily good. I spend a lot of time with – at the highest level, but as importantly lower down – seeing the BP team and the Coast Guard team and the EPA all working hand in hand to deal with a very difficult situation.”

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Note: The author does not own securities related to BP, but investors he speaks or works with may.

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