Me ol' mate TF Stern has taken to cross-posting his blog to a page called "The Moral Liberal". Comment there is "moderated", but to his credit TF has responded to rather than censored my latest contribution (below) to truth and honest presentation of fact.
“This past week BP supposedly volunteered to fork over $20 Billion Dollars to the Obama Clean up the Gulf Entitlement Fund ( the name of the fund may be slightly different ). The idea just came to them to spend $ 13 Billion more than they have in total assets. “
TF, you really must take more care reading those emails “send by friends” to convey the kind of politics you promote.
BP’s Annual Report for 2009 lists Nett Income for 2009 as $20B.
From the same report Total Nett Assets amount to $101B.
On that basis, BP’s contribution to the Gulf fund is about 25% of “total worth”, not the ridiculous picture you present. I have not taken the time to determine (if it is possible) how much of that value is “Known Oil Reserves” under exploitation. That value (essentially “Future Income”) should be comparatively small but one never knows for sure.
Really, please be more careful!!
TF's response - as is his way - is to tell me that he has reserved a spot on the beach for me.
Well, I just have to give up. A man with TF's religious strengths should be prepared to face truth when it is presented. Equally to the point is his commitment to the presentation of half-truths and worse in his pursuit of his political ideals. It is rarely as wrong or as blatent as in this case and that for a starter has always made debate with him difficult.
So, if ever one comes across the writings of TF Stern, be prepared to check out their factual basis. His thoughts (outside of his personal writings) are generally concocted from "emails sent by a very good friend" - and he is usually honest about that too. Where he fails is in his prediliction for partial truth and dishonest presentation.
Oh, and the irony of his cross-post site is obviously lost on the man. Time was when "liberal" was a favourite epithet used against any who did not support the Conservative cause, the war against this or that, and The Man at the top.
How the landscape has changed...