BP

[billy]

could there come a time if this leak isn't plugged when BP has no choice but to go bankrupt. in which case those people affected may not get what they deserve re a pay out. it's already lost 70billion (i think) off it's shares and has had it's credit rating lowered.

[srijantje]

what i don't get is,they announced it cost them 1 billion up to now and if i'm correct they made 16 billion profit last year,so what's the problem?

[PimpQ]

I personally think it's all a big scam, that their doing this to cost the tax payers more money and then everything will continue not to work, costing them even more money.

Sorry, I'm bad at explaining my thoughts.

[srijantje]

ofcourse they'll recover from this,with 16 billion profit?and anyway,they're too big to let go down aren't they?

[billy]

what i don't get is,they announced it cost them 1 billion up to now and if i'm correct they made 16 billion profit last year,so what's the problem?

June 2 (Bloomberg) -- BP Plc’s failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the U.S. in a fight to stay independent.

BP shares have plunged 36 percent since the Deepwater Horizon drilling rig leased by the company exploded on April 20, wiping more than 40 billion pounds ($58 billion) from the company’s value. That may make BP cheap enough to attract acquisition interest, investors said.

source;

to date that 58 billion fall in shares is now 70 billion.

the cost of the clean up is a pittance to them, if there shares fall to far they become insolvent and have to face bankruptcy before that they would be sold and whoever bought it wouldn't be liable for the cost of the damages. though i suspect if someone bought them out they, would gladly pay the clean up bill.

[srijantje]

so in the end it's all business as usual,let the oil gush out for a few more weeks and it will become even more profitable

[LokalHorst]

Seeing the recent news about the oil spill @ the mexican gulf and florida made me angry (and for sure confirmed another time that homo-sapiens is unable to learn, as long as big money is involed).
Guess who's the major shareholder of the company which produce the chemicals used to destroy the oil slick.
I doubt that the company will be held responsible, I even doubt that the total (future) damage can be summed up in dollars. Oil will be more profitable in the future anyway because of it's limited availability and still growing consumption worldwide.

[billy]

i never knew the clean up product was one of their own making. no wonder they ignored calls to use something more ecologically friendly.

the clean up operation though long may actually do as it says and clean up. the conservation of fish and other wild life may never succeed.
some species may very well never recover from the spill.

saw some of the sea birds and it was not only horrific but sad.

i really do think this will be create the rallying call for alternative energy in the usa.

[billy]

the main problem as i heard before is the not knowing what bps liabilities are. not knowing if as a company it's credit rating will be downrated again and how badly. at present it's an insecure business venture for anyone else to take over. plus ;

though many oil companies (big ones ) may like to take over pb they couldn't because it would make them a monopoly. the smaller company have 10 bil working revenue at best. banks again would be hard pressed to underwrite such a risky deal. which leaves bp to weather the storm or sell it's company asset by asset.

[DickyBrown]

Last that I read, the oil was only being broken up by chemicals and was flowing below the surface in massive amounts. Slicks of globuals miles wide and long cought in the currents. The oil has not gone away or been cleaned up just pushed out of site to wash up on shore hundreds if not thousands of miles from the spill, all the while blocking sun light from reaching planton and starving to death alot of sea dwelling creatures. This is going to devistate the food chain all the way up to us.

[mrmod]

Also, the globules are eaten by fish who mistake it for plankton. It's pretty sad .

[srijantje]

isn't our old friend haliburton somehow involved in this as well?

[DickyBrown]

Yes they are, it seems they bought the oil well blowout company before the BP gusher for a reported $240.4 million.

[srijantje]

what's the oil well blowout comp?

[DickyBrown]

http://www.dailyfinance.com/story/invest.../19435689/

[srijantje]

hmm,are they now making money out of this disaster,by cleaning it up,i wonder?

[DickyBrown]

Ofcourse they are. But it is not being cleaned. It is being dispersed, there is a differance. Dispercing just does that, breaks it up into smaller particles and allows it to sink below the surface out of site, to you and me and the rest of the world it looks cleaned up but it is not. The chemicals they use do not magicly change the oil into something other than oil which is indeed what people must think they do. That oil is below the surface flowing in ocean currents as we speak destroying everything it comes into contact with. It prevents the sun from penitrating beneith the surface and re-oxygenating the oceans water, thereby killing what lies beneath. This is going to pan out to be the worst disaster in history, wait till it hits the ice caps.

[srijantje]

yes i should have said supposedly cleaning it up

[billy]

just saw some pics of wild life on cnn and it's scary.
someone needs to have their balls in a sling after this disaster.

[mrmod]

I think BP is going to suffer for what they did.