Thursday, July 29, 2010

A Mandy Rice-Davies Moment!: "BP denies negligence statement" (BP; APC)

"They would, wouldn't they"*

Yesterday we posted "Could be HUGE for Anadarko: "BP CEO: We won't be found grossly negligent. BP counsel: Yes we will" (APC; BP)". Here's the update, again from the Houston Chronicle's NewsWatch: Energy blog:
We wrote yesterday about a letter from Texas Gov. Rick Perry and Attorney General Greg Abbott to BP where they claim the company "...acknowledged that gross negligence would be revealed as a cause of the explosion that led to the oil spill."

Such an admission by BP's general counsel would run contrary to what the rest of the company's executive suite is saying and would mean the firm accepts a nearly quadrupling of fines for the spill under the Clean Water Act.

BP denies that its General Counsel Jack Lynch or anyone else at the company made such a statement:
"While BP respects Governor Perry and Attorney General Abbott and appreciates the opportunity to work with them, the recitation in their letter is simply incorrect. During the conference call, neither Jack Lynch nor any other BP representative stated that gross negligence would be revealed as the cause of Deepwater Horizon tragedy."
BP is up 2.76% at $38.75, APC is up 2.87% at $50.22.

*For British politicians of a certain age [often referred to as octo or nona-genarians -ed] the scandal surrounding Secretary of State for War John Profumo's affair with the alleged mistress of a Russian spy was highlighted by the testimony of Miss Rice-Davies, a friend of the alleged mistress, Christine Keeler.
From Wikipedia:
While giving evidence at the trial of Stephen Ward, charged with living off the immoral earnings of Keeler and Rice-Davies, the latter made a famous riposte. When the prosecuting counsel pointed out that Lord Astor denied an affair or having even met her, she replied, "Well, he would, wouldn't he?"
We've tried to keep the phrase alive, using it about once per year:

Gore Says Markets are Key in Battle to Combat Climate Change
"Well, he would, wouldn't he?"
Mandy Rice Davies*

ICE, Skating on Thin

Warning: Mandy Rice-Davies moment ahead.
"...we do not believe that a complete overhaul of the current regulatory structure is either warranted or advisable."
UN Can Regulate Emissions Trading Without Conflict of Interest
All together now: A Mandy Rice-Davies Moment!*
Major Problems at California's Public Pension Fund, CalPERS And: A Mandy Rice-Davies Moment!
One of these days I'll have to tell the story of how CalPERS got to this point. It is an ugly tale. For now we'll just post the slow motion train wreck.
On a positive note: Mandy Rice-Davies* moment ahead!  
One of my favorite usages: 
Lord McIntosh of Haringey:  My Lords, I am proud of many things that this Government have done. I pause to anticipate the interjection—"He would say that, wouldn't he?"...
Lords Hansard text for 6 Feb 2002