Keep shorting BP down to zero. Here come the lawsuits.

Worst case they just let the US subsidiary declare bankruptcy. That still leaves the substantial non-US operations intact, and they are worth a lot more than $0.
 
Interesting to note that two weeks after the Exxon Valdez spill, Exxon stock only dipped 4% and was back up to it's pre-spill price a month afterward.

Go zoom in on late March '89 and check the stock price; you can't even see the spill on the chart.

Bush the Elder beating Dukakis in the Nov '88 election caused a bigger two week decline in Exxon stock price than the Valdez spill.
 
Quote from joe4422:

Every oil company in the world would have to pull out of the US if the US were to bankrupt BP over this. Who could possibly afford to pump oil if 1 accident will sink you. Who would insure them?


The truth is we need oil, and accidents happen. Obama's playing angry to earn some votes and improve his ratings.


Why is no one blaming Obama? How long has he been President now? Did he have no time to look over such an important part of the country? Did he not know that this exact same thing happened 31 years ago?


Fitch downgraded BP, and put the cost to them at worst case scenario at 3 billion dollars. That'll come right out of petty cash. They won't cut their dividend, because that will wreak havoc on the British financial system. Asking them to cut their dividend is just politics anyway, because they have more cash than an Arab oil field owner.


BP at these prices is offering one of the highest dividend yields out there.

From a value perspective, funds are buying.

Everyone was furious at Exxon in the past too, but they forget.
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exxon paid a heavy price. people don't forget but you have to move on.
 
If the cap thing works (meaning capturing 90%+ of the oil coming out) then the stock will rally from here.

After a series of failed attempts to stop the flow the stock seems to have priced in the assumption that this too will fail and the only hope is the relief wells.

If the cap also fails to substantially stem the flow then maybe it drops a little further but the potential upside here is much greater than the potential downside (IMO)

As others have stated, BP generates tons of money and they can handle the cleanup and settlement costs that have been estimated - and those costs will be paid over time.

Remember that Exxon got out of paying the bulk of the punitive damages in the Valdez case and they (Exxon) allowed a known drunk to captain an oil tanker. Do you think that BP behavior in this case is more negligent, esp. considering the other players that can be pointed to (Transocean) for blame-sharing? I'm not saying that BP wont pay 100% of the cleanup/claims but the idea that they will be hit with an additional huge punitive penalty doesn't seem likely based on the way the Exxon case played out.
 
...And just to think BP did this deliberately...just to lose thousands of gallons per day...such waste:D

Their public relations people should be shoved down the hole to block the leak...:cool: ...followed by Obama and his minions...no better..

NiN
 
I am crying. Part of my inheritance is in BP, and my Dad only sells stock every few years, and he sold some of his Kohls last year, so he probably won't sell his BP. ROFCMAO...C=crying...LOL, oh well
 
If you want to go to the beach in Southern Ca and especially in the Santa Barbara area you will experiencce oil and tar on the beaches which gets all over. If you want to surf or go in the water in so CAL it is a part of the experience.

douche


Quote from Petsamo:

Didn't your mother tell you not to surf on oil?
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Quote from Illum:

Don't ask me how one can commit a crime without intent in America, but apparently this is now precedent.
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Nobody has to ask you - it has always been precedent. If you go target shooting in an crowded urban area, with no intent to hurt anyone, and wind up killing a passerby, is that a crime? If you think it would be fun to drop garbage on cars passing under a highway bridge, with no intent to kill anyone, and you cause a deadly accident, is that a crime? There are some activities that are so inherently reckless that doing them, even without intent to harm, is criminal. We don't know yet if that is the case with BP's procedures here.

But in the end it won't matter - the damage here is so gigantic that the politics will dictate. They'll try to soft-pedal it goldman style, putting on a big meaningless media show for now, but if BP lets this go on another 2 months at this flowrate even the most corrupt of the scum in congress will have to turn on them.
 
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