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BP is gone. Under 5 in 12 months
- Thread starter myoffices
- Start date
Quote from number22:
I am doing my part of boycott BP products by stop buying castrol motor oil. No BP gas stations in my town(except avgas in airstrip), I am sure there many people will boycott BP.
When oil spills over shoreline of Florida, even more people will be pissed.
you are very much correct.
http://www.nytimes.com/2010/06/13/us/13florida.html?hp
article describes the historical choices for development made by 2 states. Florida opted for tourism.
Louisiana opted for oil.
Quote from Robert Weinstein:
I was taught that there is no such thing as a dumb question. This one appears to be somewhat obvious to me but I am sure there are things that are obvious to you that I would question as well.
Yes, as a general rule you can count on multinationals to incorporate in each different country and often divide it up from there with holding companies etc....
The media as usual has made a 100lb gorilla into a 1mil lb gorilla. Its bad. its really bad. but it is not BP going away bad in my opinion. If someone can show HOW legally the assets other than what is in the US can be tapped into I will gladly stand corrected. It would appear to me that getting a London court to hand over the retirement of so many people and send the British economy into the toilet would be at the least a challenge.
I am net long BP but I wouldn't be if I didn't believe what I am saying.
Thanks for clarifying. You mentioned this on another thread about BP stock price. What puzzles me is that WSJ and other business news media has not mentioned this fact that BP won't go to zero even if the US entity disappears.
Next week is options expiration week. also BP will be deciding on the dividend on Monday, so there will be volatility.
Conspiracy theories aside BP will crash and burn; like the poster said BP is the most evil company on the planet and although this is hyperbole alot of people feel this way including the most powerful government on the planet. BP shares are going to take another dive.
http://www.boston.com/news/nation/w...ma_to_report_on_how_hell_hold_bp_responsible/
http://www.boston.com/news/nation/w...ma_to_report_on_how_hell_hold_bp_responsible/
BP's profit before taxes is 5 billion. So far they've spend 1 billion on clean up.
They have the money to pay for this. And though it'll hurt like a bitch, they are far from bankrupt.
Cleanup estimates are what...25 billion at the moment?
So that's 5 years of profit, which is far quicker than exxon recovered
Then again, with exxon we knew exactly how much was spilled...here, it's way, way more, and potentially even more
They have the money to pay for this. And though it'll hurt like a bitch, they are far from bankrupt.
Cleanup estimates are what...25 billion at the moment?
So that's 5 years of profit, which is far quicker than exxon recovered
Then again, with exxon we knew exactly how much was spilled...here, it's way, way more, and potentially even more
Quote from corbel:
BP's profit before taxes is 5 billion. So far they've spend 1 billion on clean up.
They have the money to pay for this. And though it'll hurt like a bitch, they are far from bankrupt.
Cleanup estimates are what...25 billion at the moment?
So that's 5 years of profit, which is far quicker than exxon recovered
Then again, with exxon we knew exactly how much was spilled...here, it's way, way more, and potentially even more
with oil about 77 it is less than two years of profit most likely (all things being equal I would expect this spill to lower the profits beyond the costs as it takes away from doing things that make a profit)
But it is unlikely that this would not be spread out over many years as well based on other large civil liability cases.
obama is pushing for an escrow account to be administered by a third party (guessing the democrat national party would be his first pick). At the very least it has the appearance of wanting to be in control of the winners and the big winners (you know if the government runs it there is going to be headlines of where the money went....)
anyway, its probably going to be one wild ride this week with BP. short or long you can probably make some good coin if you time it right