EMAIL DETAILS

BP boss Svanberg says
'we care about the
small people' after oil
spill faceoff with
President Obama

BY Kenneth R. Bazinet
DAILY NEWS WASHINGTON BUREAU

Thursday, June 17th 2010, 4:00 AM


Harrer/Bloomberg; Miller for NewsBP Chairman Carl-
Henric Svanberg (left) apologized to President Obama
for the oil spill debacle during a meeting in the
Roosevelt Room of the White House.

WASHINGTON - After four grueling hours, BP
Chairman Carl-Henric Svanberg came out of a White
House faceoff with President Obama on Wednesday

as the sorriest oil baron Washington has ever seen.

"We care about the small people," the Swedish-born
Svanberg said awkwardly - twice - of the millions of
Gulf Coast residents suffering because of the oil
spill catastrophe. He apologized to "the American
people."

Svanberg also apologized to Obama during a
businesslike meeting in the Roosevelt Room with
company execs, but at that point still hadn't
committed to financing a $20 billion fund to make
victims whole.

Enter Vice President Biden, the designated Bad Cop.

Sources told the Daily News that Biden leaned
forward and bluntly informed the Blight Brigade they
had no choice: If they didn't do the right thing and
put the cash in escrow, it would be done to them.

A sorrier-still performance may come Thursday,
when BP's better-known oil-stained wretch, CEO
Tony Hayward, plans to tell a House committee he
has been "personally devastated" by the disaster.
There will be no gush of sympathy. "I expect him to
be sliced and diced," said Rep. Bart Stupak (D-Mich.)
, the panel's chairman.

More importantly for BP's victims, the company at
last is putting money where its mea culpas are.
Obama announced that BP, with some prodding, had
agreed to put up the $20 billion to pay costs
resulting from the devastation.

"This $20 billion will provide substantial assurance
that the claims people and businesses have will be
honored," Obama said. "The people of the gulf have
my commitment that BP will meet its obligations to
them."
--


Eric D. Schwerin
Rosemont Seneca Partners
(202) 333-1880
eschwerin@rosemontseneca.co