Oil spills and cooling relationships

At first glance, the disastrous oil spill in the Gulf of Mexico and elections in Britain don’t seem to have much in common. But the British company BP is responsible for the oil spill, and relations between the US and Britain are likely to become even cooler under a new government. Here’s what the business press has to say about the two issues.

Oil disaster lessons

The ever-growing global demand for oil has prompted dangerous offshore drilling, writes the Financial Times. More attention must be paid to safety measures, but the newspaper’s editorial writers say exploration should go on — cautiously.

A consequence of globalisation is visible today on the surface of the Gulf of Mexico. … In the future, it should not be enough to be able to extract oil from thousands of metres below the sea and miles from land. Oil companies should also demonstrate their ability to fix leaks, fight fires and plug holes at those crushing depths and enormous distances. ...

No more special relationship?

At least since the Second World War, the US and Britain have had what is usually called “a special relationship”. That is changing, however. The Wall Street Journal says this is partly a result of the Obama administration’s refusal last year to hold formal bilateral talks with British Prime Minister Gordon Brown, as well as the US government’s neutral position in the latest dispute between Britain and Argentina over the Falklands.

Americans following this week’s U.K. elections should know that if David Cameron becomes the next prime minister, his Conservative government will work hard to “establish a new special relationship” with… India. … [G]iven the cultural, economic and historic ties between [the US and Britain] — not to mention the war the two countries are jointly waging in Afghanistan — it’s premature to write obituaries for the special relationship. But the British coolness is another sign that President Obama’s decision to downgrade relations with America’s closest allies is having negative consequences.