MARKET TALK: Catastrophe An Effective Way To Prompt Change

17th Jun 2010 15:23

10:23 (Dow Jones) The Gulf oil spill may actually prove a "godsend" for President Obama, Jeremy Warner writes at The Daily Telegraph. He offers two reasons Obama should be "thanking BP, not demonizing it." One is that it's better this catastrophe happened under "big and solvent" BP as opposed to a smaller independent operating in the Gulf. "But the main reason is that it plays straight into the President's clean energy agenda," Warner says. "BP has unwittingly, and at huge cost to itself, the environment and those who scratch a living on the Gulf coast, done [Obama] a service. It's a crying shame, but it often takes a catastrophe to bring about significant change." ([email protected]) (http://blogs.telegraph.co.uk/finance/jeremywarner/100006277/why-obama-should-be-thanking-bp-not-demonising-it/) Call us at (212) 416-2181 or email [email protected] Visit the Market Talk blog at www.djnmarkettalk.com. (END) Dow Jones Newswires June 17, 2010 10:23 ET (14:23 GMT)