Once lauded, BP no corporate citizen

[OKIsItJustMe]

http://www.cnbc.com/id/38214840

Once lauded, BP no corporate citizen

Published: Monday, 12 Jul 2010 | 8:21 PM ET

NEW YORK - Milton Friedman once said companies can't be socially responsible because they only exist to make as much money as possible.

The late Nobel laureate economist would appreciate what's going on now: A historic environmental disaster caused by a company that went out of its way to tout itself as the ideal corporate citizen.

BP spent the past decade using splashy ads to promote itself as a green company. It even ditched the name it had for nearly 60 years, British Petroleum, and built an image that it was looking out for a better world.

What those ads glossed over is that the oil business remains dirty, dangerous and carbon-spewing. And it's expensive, making the temptation to cut corners greater every time the price of crude drops a nickel.

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[hatrack]

1. Once thickly greenwashed, BP reveals original paint job . . .

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