Rev. Jesse Jackson's BP Boycott is a Very Good Idea

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I am a fan of Rev. Jesse Jackson, and I've never been a fan of BP. In fact, I am not a fan of big oil in general. Exxon earns more than $100 million per day in profit, making it the most financially powerful firm in the history of the world. Dutch Shell, another major player in the oil industry, is the company considered responsible for causing the execution of Ken Saro wiwa, a Nigerian activist who felt that the massive profits of oil companies should be used to help the people. While the company didn't specifically request the execution of the leader, some argue that Shell's pressure on the Nigerian government led to Saro wiwa's death.


Our nation has long been fearful of investigating alternative-energy sources. Much of the stifling of progress has been at the hands of oil companies, which have no problem gobbling up any firm gaining ground on the development of alternative energy sources. Our political leaders are hamstrung by big oil, since the oil companies are always glad to fill the pockets of politicians and lobbyists. The oil and gas industry spent $169 million on lobbying efforts in 2009, with BP being second in the industry in total spending.

The oil spill puts the state of Florida's $60 billion tourism industry at risk, 30 percent of the coast has been cut off to fishermen and there may be up to 75,000 job losses, according to the Wall Street Journal. While BP has already spent more than $1 billion in clean up costs, the total cost will surely be several billion dollars higher. What's worse is that the Oil Pollution Act of 1990 puts a cap of $75 million on total damages for an oil spill. BP is sending letters to victims of the spill, asking that they give up their right to sue for the princely sum of $5,000. Only a hard-core capitalist like BP would take advantage of the economic hardship of citizens in order to make a buck.

Jackson has been leading protests against BP, and I think we should support him. Jackson's boycott, along with the actions of others who are genuinely concerned about the long-term consequences of this spill, remind us that if we the people don't move to protect our own interests, our political leaders never will. President Barack Obama is doing all he can to challenge BP, the company that threatens to undermine his presidency. Obama has distanced himself from the company and let the public know that he is the one in charge of the cleanup, not BP. In addition, United States Attorney General Eric Holder is on the job, recently launching a criminal investigation into the spill. All the while, there is a clear limit to what political leaders can do to reverse their long-term deals with the devil. If the people don't act on this issue, then the devastation will only continue to escalate and repeat itself.

The BP Oil spill of 2010 will be an indelible mark in history. It will be studied in classes, related to topics ranging from political science to biology. It will have a dark and lasting impact on the health and prosperity of people in the Gulf region. It will also be one of the most defining moments of the Barack Obama presidency. By taking a stand against big oil the way he has, Jackson is inviting the American people to become part of this riveting national dialogue. I for one am glad he's doing it.

Dr. Boyce Watkins is the founder of the Your Black World Coalition and the author of the new book 'Black American Money.' To have Dr. Boyce's commentary delivered to your e-mail, please click here.

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