The DoughRoller Weekly RoundUp (Will BP Survive Edition)

On Tuesday April 20th, 2010, the news broke of an explosion, occurring to a British Petroleum (BP) oil rig around 11:00pmET.   The oil rig caught fire and eventually sunk into the Gulf of Mexico.  Some said this oil spill wouldn’t be as bad as it could be, because this particular oil rig was “exploration” not “production” oriented.

11 BP workers lost their lives during this explosion and reports came out stating that 5,000 barrels of oil were being lost in the water everyday, not the 1,000 that was initially thought.  On May 1st, that number skyrocketed to 25,000 barrels a day, making the BP mishap the largest oil spill ever (although some might call it a leak rather than a spill).  Failed attempt after failed attempt to stop this oil spill has the public calling for the heads of BP and earlier this week, BP announced that no matter what the costs to clean-up this mess are(if and when it is fixed), they can cover them and still be in business.  The question is, do you believe them?

In the last 5 years, BP has had their fair share of accidents and worker fatalities.  In 2005, a Texas refinery exploded, killing 15 workers and injuring another 180.  One worker was killed in each of the following three years  at the same Texas City refinery because of unique mishaps with equipment and over the course of it all, BP has been fined hundreds of millions of dollars.  All of which, they paid without a whimper.

So while this company has not been the most efficient when it comes to safety and accidents, they have always taken responsibility for their mistakes and paid their bill when the check was due.  Working on an oil rig is one of the most dangerous jobs you could imagine and if you look into the deep history of any oil company, you’re going to find a lot of mistakes.  I fully expect BP to regain strength in the coming years and continue to build their brand.  In my humble opinion of course.

Now let’s talk about the best money articles the web had to offer this week shall we?

7 Money Mistakes We Make Everyday @ US News: If you’ve read DoughRoller this week, you know I’ve made a lot more than seven on a weekly basis!  Make sure you check these out and nip them in the butt as fast as you can.

What Would You Do With a Cash Windfall? @ Fiscal Geek: I love the stack of $100 bills in the picture.  For me, my money would immediately pay off any current debt I had, then spread the rest out among my immediate family.  They’ve stuck by me through too much not to see them rewarded for it.

Having Fun Yet? 9 Ways to Ensure Your Road Trip Sucks @ Len Penzo: One of the worst feelings I’ve ever had was being 500 miles from home with no transportation, no money and no cell phone.  Read this piece to ensure the same doesn’t happen to you.

Will a High Salary Make You Happy @ Monevator: Money and happiness is a tough correlation to make but while money can buy certain kinds of happiness, it can’t buy them all.

The Benefits of a Positive Attitude – and Five Tactics for Doing It @ The Simple Dollar: Having a positive attitude is so important to staying healthy.  I can’t imagine where I would be today if I let everything get me down.

Women Should Save More, Spend Less on Designer Shoes @ MoneyNing: Is there any man in American that doesn’t agree with this statement?  You can pretty much throw anything after the word designer and women should spend less on them. 🙂

Save Money With Do-It-Yourself Jobs @ One Money Design: I’m a heavy “Do it Yourself” promoter and if you feel you can’t do it yourself, call me and I’ll come over and do it for you.  For a nice sized fee of course.

Five Ways to Get Good Customer Service (and keep more money in your wallet) @ The Centsible Life: Just in-case you are provided terrible customer service make sure you read up on how to use complaining as an effective refund strategy.

Topics: Personal Finance

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