BP'S Shocking Memo

BP'S Shocking Memo

www.thedailybeast.com

Coon says that during the discovery process, he found another email from the BP Risk Management department that showed BP put a value on each worker when making its Three Little Pigs calculation: $10 million per life. One of Coon’s associates, Eric Newell, told me that the email came from Robert Mancini, a chemical engineer in risk management, during a period when BP was buying rival Amoco and was used to compare the two companies’ policies. This email, and the related Three Little Pigs memo, which has never before been publicly viewed, attracted almost no press attention.

(visit the link for the full news article)

My apologies if this has been posted already.
Also, I really don't know how credible the site I link'd is.

Here is my opinion.
I think it's OUTRAGEOUS that something as big as this isn't getting the coverage it deserves, if this is legitimate, and BP has actual documents, "Calculating" how much a human life is worth, that terrifies me... We all know this goes on behind our backs, but ACTUAL documents are scary...

www.thedailybeast.com
(visit the link for the full news article)

reply to post by evolxyz


At least now we know how much they should be paying the people whose lives they have ruined.

reply to post by evolxyz


This isn't shocking in the least. It is politicking at it's worst. I'm not a big BP defender, but this is nothing short of risk management. 10 million bucks for a death on a rig is reasonable. Working a rig is tough, dangerous work and one must be prepared to deal with the potential loss of life.

This is really not a big deal, but hey don't let facts get in the way of a good story.

Oh gimmie a break.

You put a value on your own life when you purchase a life insurance policy.

There are tons of companies who take out life insurance policies on their workers, making millions when those people pass away.

It's become quite the common practice for very large companies.

~Keeper

but this is nothing short of risk management. 10 million bucks for a death on a rig is reasonable.

For the U.S transport department its about 1 million dollars. They needed the figure to work out how much of our money, must be spent on road safety. Frankly I think 1 million is too much. For about 50K of taxpayers dollars you could probably save about 2 U.S lifes e.g. hospital treatment.

People can always put their brains in acid, as they think to themselves about how terribly "outragous" putting a monetary value on human life is.

But when your talking about industrial safety its a PURE necessity. Otherwise do you build a million dollar foot bridge, over a road, that might get used 10 times a year? Should BP spend 1 billion dollars reducing the chances of a single death by 54%? What about the wind farm industry? Do we increase their costs as well; by putting cushions in front of every windmill in case one of 10,000 turbines comes of and lands on somebody?

If you don't put a value on life, then you don't put a limit on the cost of safety. If you don't do that you get pavement with "padded-plastic hand rails" and the polycies as mad, to match.

Sure BP puts a value on a life. So does every wrongful death case or life insurance policy..

This isn't that shocking. If one of your loved ones was killed in an industrial accident, you would want a monetary settlement too. This is hardly shocking. It is business. I dislike when people get offended at putting monteary value on human life. To you and maybe your family your own life is priceless, but when it comes down to it everyone's life is assigned some kind of price tag at some point. I would be proud to be worth $10mil to someone. I'm worth about $10,000 right now under my AD&D and Life Insurance policies.


Posted Via ATS Mobile: m.abovetopsecret.com

Humanforsale.com would put a much lower value on each of those people I am sure. You can estimate how much actual value you have by going to that site and filling out a survey.

But seriously, as much as I can't stand how this whole situation has been handled, I agree with the others that have said this isn't that big a deal. A lot of companies put life insurance policies on their employees, or at least offer them as a part of their benefits. They are usually much, MUCH lower than that. From the risk management side of it, this sounds perfectly normal.

Now, if they are thinking by means of "We should proceed with plans to accomplish *project x* even though it will cost of the lives of *y* amount of people because it will make us *z* amounts of money" then I would be VERY concerned.

The movie "Fight Club" has some interesting insight to the dealings of risk management though. It is disturbing but it does happen. Not saying it's right by any means...

How do you think your government is able to have huge dept ?

You and every other citizen have an estimate productivity during a life time.

Whats the big deal? any insurance agent can tell you the same thing. they can also tell you how much each digit on your hands are worth. Your thumb is the most valuable!

I'm not much for defending BP, but this is a non-issue. As stated earlier, its a common risk management practice that occurs in almost any responsible corporate front office where workers are exposed to potentially dangerous conditions. It allows the bean counters to estimate liability if an accident should occur and to ensure that the company is in a financial position to deal with it.

The point I'm trying to make, which is what we all know, it's just there's public documents now, is them cutting costs, if it's cheaper to pay for a life then to create safety measures!

If you read the full story you would get that.