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Obama and Cameron worried over the BP spill

Submitted by Anil Budhiraja on Sat, 06/12/2010 - 13:53
Obama and Cameron worried over the BP spill

While tension surmounting on both sides of the Atlantic, BP's oil spill at the Gulf of Mexico has become top most and alarming agenda of the talks between US and British leaders.

According to the information received from the White House, President Barack Obama shall be calling British Prime Minister David Cameron from the Oval Office.

The two men are expected to seek to confront the tensions after Obama stepped in the BP spill criticism, which is the biggest man-made environmental disaster known till date in the United States, and Cameron is expected to support his support behind the financially strong BP.

However Obama has summoned the BP Chairman Carl-Henric Svanberg and has asked him to meet with him in the Washington on Wednesday. Further he has criticized chief executive Tony Hayward, and sent warning over shareholder payouts.

The state department of US and UK government are handling suggestions of a rift, while analysts speculates that the duo's primary concern for the discussion is the joint efforts in Afghanistan and over the Iran's nuclear program.

Further it is expected that BP may finally has to bow down to US pressure and shall suspend its dividend payment due on July 27.

BP spokesperson however said that suspending the dividend is the option that's up for discussion. Till now no decision has been taken till now, but BP is looking at options.

According to The Times newspaper, BP shall be preparing to come up with the second-quarter dividend money which is around 1.7 billion dollars in an escrow account which is an attempt to ease the surmounting political pressure on the firm.

Further the firm's share price has dwindled over 40 percent since the underwater rig has exploded on April 20, which shelled the speculation about bankruptcy and a takeover bid.

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  • Barack Obama
  • BP
  • David Cameron
  • United Kingdom
  • United States

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