Obama Attacks Execs Involved in Oil Spill

President Obama has been attacking the executives of the companies--British Petroleum, Transocean, and Halliburton--involved in the massive oil spill just off of the coast of Louisiana Reuters reported today.

The open question is whether or not the protracted effects of the oil spill will damper public support for Obama's plan to open up much of the Eastern Seaboard and parts of Alaska to oil exploration and drilling for the first time.

The Department of the Interior has suspended giving out new drilling permits until May 28, when a safety review is due to be completed.

All the companies have tried to shift the blame, which may be worse press than just trying to accept responsibility. It seems to me that after hearing other big businesses mess up recently--notably financial services businesses--the oil firms and subcontractors would want to be careful to strike a more conciliatory and repentant tone. Alas, they have not. If their reaction to the crisis hurts public opinion of increased offshore drilling to the point that lawmakers postpone opening the new waters, they will have themselves to blame. In this environment where the American public trusts big corporations only a little more than they trust their unpopular government, honesty is probably the best policy. Too bad big oil hasn't learned its lesson.