What is irony? In the case of BPTBTF I'll take definition 5 from Dictionary.com.
Bloomberg is reporting that "BP’s Demise Would Threaten U.S. Energy Security, Industry, Jobs". Do I smell an oily bailout?
What I find interesting about this first calculated shot across the taxpayer bow is that I know many people who voted for Obama purely on the "fact" that he was going to save the environment and planet Earth. He was going to be the first green President and protect us from all the evil polluting corporations.
Now under his administration, of course this has to somehow be GW's fault because no administration is actually capable of solving anything while they are in office, BP acted irresponsibly and possibly criminally in what has resulted in the worst environmental disaster in US history. And if some folks predictions are correct, this one might go down as the worst of all time as The Gulf of Mexico becomes the Gulf of oil.
So the suggestion of BP being TBTF is rich. According to this ABC report, they are one of the worst oil companies in the world as far as safety goes. If the Obama administration bails them out by protecting them from the lawsuits and from compensating the Gulf States for their role in this catastrophe, or even worse provides taxpayer money to them to stay in business, then what does that say about Obama's concern for the environment? To a logical thinker it says he doesn't give a shit. If Obama protects BP then Obama is as oil friendly, or maybe even more so, than GW ever was.
Further if the Obama administration bails out BP than what is the Obama administration saying to the oil industry? To me it's saying safety is not the most important thing, profit is. It's saying that BP's lack of safety controls to increase profit is acceptable and should be practiced because if you make a mistake than don't worry, OB got your back. It's saying that the environment doesn't matter.
BP must be held accountable for the commercial industries (fishing, tourism, etc.) they are destroying and the property and eco-damage they are causing. If Obama protects them from that, and even bails them out, after running on a campaign of greenness then that would be enormously ironic.