“Where I was wrong,” said President Obama at his press conference on Thursday, “was in my belief that the oil companies had their act together when it came to worst-case scenarios.”

With all due respect to the president, who is a very smart man, how is it possible for anyone with any reasonable awareness of the nonstop carnage that has accompanied the entire history of giant corporations to believe that the oil companies, which are among the most rapacious players on the planet, somehow “had their act together” with regard to worst-case scenarios.

These are not Little Lord Fauntleroys who can be trusted to abide by some fanciful honor system. These are greedy merchant armies drilling blindly at depths a mile and more beneath the seas while at the same time doing all they can to stifle the government oversight that is necessary to protect human lives and preserve the integrity of the environment.

President Obama knows that. He knows  or should know  that the biggest, most powerful companies do not have the best interests of the American people in mind when they are closing in on the kinds of profits that ancient kingdoms could only envy. BP’s profits are counted in the billions annually. They are like stacks and stacks of gold glittering beneath a brilliant sun. You don’t want to know what people will do for that kind of money.