Saturday, May 15, 2010

BP oil spill and Gov, Human, scientific and ecological accounting fraud

I posted the following in response to the following article on BPs oil spill
http://www.grist.org/article/Spill-rate-lowballing-reflects-badly-on-government-cleanup-oversight

The BP oil spill in the gulf of Mexico is an example of scientific accounting fraud where by inadequate, inaccurate or misleading information is used to convey confidence in the safety, human, environmental and economic impact of an event such as off shore oil drilling, smog produced by building fleets of less fuel efficient vehicles, chemical toxins, endocrine disruptors, radioactive material, automobile software and trans fats contaminated foods, etc It is motivated by the same criminal values that drive financial accountings fraud. In this case BP’s drive for more money and less costly and unnecessary (their version) requirements like a back up well means, we get more toxins and environmental and economic destruction Another component is human and ecological accounting fraud that is associated with BP’s reported impact on the ecology and economic impact of the gulf region. Total these accounting and you are just beginning to calculate the Gross Domestic Damage (GDD) that is done in pursuit of the GDP. I wonder if the Government Accounting Office calculates the GDD because if they are not, reports on the growth in the GDP amounts to Government Accounting Fraud (GAF) Let see where the Obama administration can help reveal the inaccuracy of the GDP. Just like financial accounting fraud needs to be subject to higher accounting standards, human, ecological, scientific accounting fraud must become subject to higher standards and criminal prosecution of those who clearly break these accounting standards, if we are going to survive.