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Tony "Loose Lips" Hayward's Latest Forehead Slapping Admissions

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I’ll admit, when I first saw the headline “Ex-CEO says BP was unprepared for oil spill,” my initial reaction tended toward the cynical.

You mean to tell me that Tony Hayward and BP weren’t prepared?! But they reacted with such grace! Such poise! Such courage under fire!

But instead, I’d just like to say that there’s actually something refreshing about Hayward’s candor. An admission of culpability that we rarely see in public discourse that, maybe, just maybe, tells us more about what’s really going on behind-the-scenes than some carefully crafted PR statement that merely compounds our growing impulse toward cynicism.

And as you’re about to see, the honesty is actually illuminating. Let’s take a look at Hayward’s latest.

+ BP was "not prepared to deal with the intensity of the media scrutiny"

Okay! Good! I’ll buy that. An admission of guilt. A CEO actually saying, “hey, we just weren’t ready for this kind of spotlight. We’re an oil company, not PR firm.” I can buy that. And I appreciate the honesty.

+ “What was going on was some extraordinary engineering…But when it was played out in the full glare of the media as it was, of course it looked like fumbling and incompetence."

You know, it’s exactly because Hayward admits that BP was ill-equipped to deal with the media that I feel like I can buy his assertion that there WAS “extraordinary engineering” going on. In a way, I actually sort of don’t hate BP as much. See? Honesty pays.

+ "If I had done a degree at RADA (The Royal Academy of Dramatic Art) rather than a degree in geology, I may have done better, but I'm not certain it would've changed the outcome.”

Okay, a little cheeky, maybe, but I’ve got a sense of humor. If Hayward is saying that he would have been better served with a background in theater than geology, that’s just a roundabout way of saying “the rest of the world would have preferred I’d been a convincing actor rather than an engineer.” And I guess he’s got a point.

+ BP’s contingency plans were inadequate and "we were making it up day to day."

Who among us hasn’t---wait a minute. Making it up day to day? Making it up?? Day to day??? Are you friggin’ kidding me?!?!?!?!!?

During the largest marine oil spill in history? After 185 million gallons were leaked into the Gulf of Mexico over more than 10,000 kilometers of ocean? While tens of thousands of species were destroyed, beaches decimated, ecosystems ravished? Making it up day to day???

Yikes. On second thought, Mr. Hayward, next time you communicate with the press, just issue a damn press release.

I need my sleep at night.
POSITION:  No positions in stocks mentioned.