Is Hayward taking too much flak?

I have spent much of the past week swinging on a pendulum over the BP oil spill and the plight of Tony Hayward, the CEO.

Hayward is bearing the brunt of criticism for the oil spill in the Gulf of Mexico and I can't decide if that is fair or not.

One moment I swing towards the view that, as CEO, he must carry the can. Then I swing the other way and believe it is unfair to beat up on Hayward. He has only been in the job three years and had no personal responsibility for this disaster.

Of course Hayward hasn't exactly helped matters with some ill-chosen phrases. First he said that there was a lot more water in the Gulf than there was oil or dispersants. Then he said there would be "very very modest" long-term environmental impact from the spill. And most recently, in frustration he said he too was looking forward to getting his life back. But speaking such words to people whose way of life may be destroyed is crass at best. It is not surprising that Hayward has apologised profusely.

But hang on, once again my pendulum is swinging the other way and I think, which one of us wouldn't make the odd silly comment if we were under the pressures he is under? He has conducted dozens of interviews and briefings. Should we condemn him for a few ill chosen words that were taken out of context?

Tony Hayward is an oil man through and through. From his degree to his life-long career at BP he knows his industry backwards.

Possibly more than any other executive in the company, Tony Hayward knows that BP can financially withstand this crisis. He is the former group treasurer. Even with the share price down 34 per cent he was able to tell investors "it's important to remember the company is working very well operationally" and that "relative to the company's cash flow it's manageable".

But wait a moment ‘cash flow manageable?' in a crisis that is devastating large parts of the Gulf Coast? That doesn't sound very relevant to those fishermen and local residents watching their livelihoods being fouled by the oil.

Even the decision on the BP dividend has me, well, divided. On the one hand, BP can afford to pay it, so why shouldn't it? It's estimated £1 (Dh5.3) in every £7 of dividend payments comes from BP so it is important for pension funds, investment trusts and many who are retired.

But on the flip side is President Obama and the US Administration who have criticised the payments. I am now truly dizzy with all this pendulum swinging over BP. Thankfully I don't think all this swinging will be doing much harm to Hayward. After the latest round of bashing he has commented. "I'm a Brit. Sticks and stones may break my bones but words will never hurt me." That may be true but, oh dear, was it wise to say it? I feel the pendulum about to...

Tune in to CNN International each weekday at 2200 UAE time to catch Richard's show, Quest Means Business.