The British are getting mad at Obama now. It seems his bad mouthing BP is costing British pensioners billions:
City investors said the president was jeopardising the pensions of millions with his “excessive” criticism of the energy company following the Gulf of Mexico oil spill.
Before the accident on April 20, BP was Britain’s biggest company, with a stock market value of £122 billion. Since then, £49 billion has been wiped off its value.
Experts have said that the clean-up costs of the oil spill will run to between £10 billion and £20 billion but the biggest cost to the company is from investors dumping stock for fear of BP being further punished by the US Government.
Those fears have been heightened by Mr Obama’s increasingly aggressive rhetoric towards BP, which some investors see as an attempt to deflect criticism of his own handling of the crisis. Last month, a White House spokesman said the President’s job was to keep his “boot on the throat” of the company.
In the past week, Mr Obama, who insists on referring to BP by its former name British Petroleum, has suggested that its chief executive, Tony Hayward, would have been sacked if he worked for him.
Mr President, your criticism of BP is unsustainable.