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Page added on August 23, 2010

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Who Owns BP?

Business

Energy Sacrifice Zones

by

Rand Clifford

The concept is an old one. The amount of human blood spilled over control of fossil energy deposits and associated transfer routes, in the 20th Century alone, probably rivals the amount of oil BP’s Macondo well has unleashed in the Gulf of Mexico so far. But in the 21st Century the concept has gained a popular name, and really hit its stride–all the way to perhaps relegating the entire life-support system of Earth as an energy sacrifice zone.

Who Actually Owns BP?

It appears that much of the Internet is being scrubbed of this detail. Most relevant sites agree that 40% of the shares of BP are held in the United Kingdom, 39% of the shares are held in the United States, while the remaining 21% are held throughout Europe and the rest of the world. The largest single holder of shares is getting harder to track down. Generally an Internet search will lead to the other 9 leaders, roughly 23%:

BlackRock (New York) 5.9%
Legal & General (United Kingdom) 4%
Barclays Global Investor (owned by BlackRock) 3.8%
Norges Bank Investment Management (Norway) 1.8%
Kuwait Investment Authority (manages funds for the Kuwaiti Government) 1.75%
M & G Investment Management (UK asset owned by the Prudential) 1.67%
Standard Life (Scottish insurance company) 1.5%
Capital Research & Management Company (Los Angeles) 1.3%
China’s State Administration of Foreign Exchange 1.1%

Too many sites fail to mention who owns a whopping 28.34% of BP–more than the other 9 out of the top 10 together. That would be Wall Street’s JPMorgan Chase. And that certainly explains why our own government has offered mostly limp and phony bluster and coverup as BP has done pretty much whatever it wants in our new energy sacrifice zone–such as the deliberate blockage of oil collection in favor of bringing in “Carolina Skiffs” and huge aircraft to spray dispersants at night. BP lies, our government lies and covers, and the Gulf dies. Evidently, our government’s top priority is limiting BP’s liability.

Lots more at OpEdNews



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