Friday, December 01, 2023

BP: Owners should ante up

| June 23, 2010 10:00 PM

While I'm sure we sympathize with BP's shareholders, I cannot agree with Dorothy Radke's suggestion that their dividends remain unaffected. The shareholders actually own the company! If we invest in a company, we are buying a piece of it, so we really ought to understand the risks involved. There is no "blame", but ownership comes with responsibility.

 The oil business is intrinsically risky. As BP's poor track record for safety and environmental issues is very public information, it should be obvious to any investor that BP's big profits come with significant risks. If BP's senior management and board has been playing down the risks and misleading investors, the investors need to fire the board of directors and sue BP.


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