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To frustrated Americans who have begun boycotting BP: Welcome to the club. It's great not to be the only member any more!

Does boycotting BP really make sense? Perhaps not. After all, many BP filling stations are actually owned by local people, not the corporation
itself. Besides, when you're filling up at a Shell or ExxonMobil station, it's hard to feel much sense of moral triumph. Nonetheless, I reserve my right to drive by BP stations. I started doing it long before this year's oil spill in the Gulf of Mexico.

My decision not to give this company my business came after I learned about its role in another kind of "spill" entirely - the destruction of Iran's democracy more than half a century ago.

The history of the company we now call BP has, over the past 100 years, traced the arc of transnational capitalism. Its roots lie in the early years of the 20th century when a wealthy bon vivant named William Knox D'Arcy decided, with encouragement from the British government, to begin looking for oil in Iran. He struck a concession agreement with the dissolute Iranian monarchy, using the proven expedient of bribing the three Iranians negotiating with him.