What can Cameron do about Obama’s war against BP?
Very little is my immediate answer. The President’s approval ratings are biting the dust. Powerless to stem the tide of oil and unpopularity, Obama can only victimise a ‘foreign’ oil company. Obama may be embattled at home, but if any doubt the US President’s ability to influence global events, they need only look at BP’s share value and the pension funds derived thereof. BP is mired in an expensive oil disaster, but the President’s rhetoric about the ‘habitual environmental criminal’ and threatening BP with criminal proceedings demolishes market confidence. If the British government had condemned AIG, Goldman Sachs and Merrill Lynch in similar tones, the US administration would have retorted.
