London's Mayor Cries: 'Stop Ruining Our Pensions By Being Mean To BP'


"The Lord Mayor of London arrives to make a short speech" Image credit:UK Student Life

Digby brings to our attention that a great many UK pensioners rely on BP stock as an underpinning of their retirement income (as, apparently, do some 35% of Americans). Hence, they are angry about BP's 'poor' treatment in US media (and on blogs like this one we can suppose) as it is trashing their stock. I bet they really hate Obama's demand that dividends be withheld until the damages are assessed.

Reports digby, Boris Johnson, London's Mayor said: "I do think it starts to become a matter of national concern if a great UK company is being continually beaten up on the international airwaves." This means much more than a knee-jerk reaction by pensioners. Digby's point: the story signifies that Big Oil may be mounting a push back through political surrogates.I wonder how many US Tea Partiers have mutual funds heavily weighted with BP gold? The horror!

How many tree huggers have mutual funds heavily vested with BP stock? More horrors!

I'll bet damn few fishermen and resort workers on the Gulf of BP have any stock or mutual funds of any sort. Their horror is more immediate and lasting. There are no Gulf Coast fish managers to withdraw fish stocks until prospects improve for the mutual fund of nature.

[insert appropriate photo of Mel Gibson as "The Patriot" here]

Update: underscoring digby's point, via AFP story,

LONDON (AFP) - British Prime Minister David Cameron said on Thursday he intends discussing the US oil spill crisis with President Barack Obama in a telephone call at the weekend, as BP's share price plunged.

Cameron's announcement came as fears grew that "anti-British rhetoric" was taking hold in the United States.

Some business leaders voiced fear that attacks on BP and its chief executive Tony Hayward, whom Obama has sharply criticised over the crisis, could start to affect other British companies in the US as well.

London is calling indeed. Wonder how many shares Cameron has?

Tags: London | Oil Spill

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