A new name for BP

The news for months describes how BP (formerly knows as British Petroleum) is causing a massive oil leak in the Gulf of Mexico near New Orleans resulting in an environmental catastrophe and economic collapse of the fishing and tourism industries and their dependent industries along most of the south Gulf coast, even perhaps along Florida. If the oil is caught by the gulf-stream, the beaches and coastal environments along the east coast of the US, perhaps to northern Europe and the lovely Isles will be contaminated.

Everyone correctly blames BP for not providing the maximum protection during its oil drilling operations. It probably paid-off a governmental agency to be allowed to drill for undersea oil over public lands with the barest of safety equipment and safety procedures, allowing only one fail-safe measure to be employed instead of several independent safety means considering the scope of operations and possible damages that could be caused if failure occurs. We are reaping the results of BP’s machinations with corrupted governmental agencies. I hope the public reacts with anger and demands better oversight and safety as conditions for future operations.

While BP is trying to mend its public image, it is apparent that mention of BP or British Petroleum will for years or perhaps even decades, invoke images of uncontrolled oil and gas pouring out of a broken pipe underwater, notoriously broadcast 24 hours per day, 7 days a week on the internet. Months of images will reminds us for generations how BP ruined the environment. BP has even surpassed Exxon Valdiz as the world's most famous polluter.

The stock price of BP has plummeted as fears of public reaction to BP infamy, costs of clean-up and compensation for losses and fines will significantly reduce BP’s profits and dividends to its shareholders. Moreover, if BP fails, it will not be able to plug-up the oil flow, or compensate the unemployed fishermen, or be responsible for cleaning up the mess. After all, BP is a limited liability entity and can just close-up its shop leaving everyone to their own devices and loses. That’s the deal with corporations.

BP therefore needs a new image, even a new name to help stay-off failure as a viable business and continue to be responsible for plugging the broken pipe, pay for costly remediation and compensation for the damages it caused.

The new name should evoke images of cleanliness, an entity that is environmentally healthy, wholesome, nice to animals, seabirds and fish and extremely careful with its drilling operations held out-at-sea far from public scrutiny and governmental controls and cares for babies.

While my proposed name could be improved, I propose, as a start the name PB, standing for the initials of Public Good as its new and sanitized name. What name can you come up with?

el dueno