Monday, 31 May 2010

Transocean, the Invisible Culprit

At least someone is beginning to realize that there's something profoundly fishy about a company, based in Houston, Texas for all practical purposes, being registered in Switzerland for tax and administrative purpose, and having its rigs registered in the Marshal Islands. But Obama still thinks that BP is the only permissiable culprit, which must take all the rage, all the blame, all the hate, all the while it is expected to do all the work necessary to actually rescue the situation. BP are trying all the possible options in logical order of preference: why not stop sreaming dementedly in their ear and threatening them while they get on with this? Meanwhile, Transocean is doing nothing except trying to melt into the shadows....

Could it be, that Mr Obama knows that Transocean is probably mostly to blame, but that it's so much easier for him to grab the assets of a British company than a Swiss one? Especially when the shareholders, hidden behind all the Swiss secrecy, are mostly Americans.

If a company has something to hide, it doesn't generally register in London or Cardiff.

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