Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It's highly unlikely that they are going to survive.
They could simply make the US division declare BK and ensure that taxpayers remain on the hook. If you kill the golden goose, you won't get any more eggs.
It's in everyone's best interest for BP to remain viable and continue to pay out $$$ for years to come. Not to mention, it will probably be better for UK relations
They could simply make the US division declare BK and ensure that taxpayers remain on the hook. If you kill the golden goose, you won't get any more eggs.
It's in everyone's best interest for BP to remain viable and continue to pay out $$$ for years to come. Not to mention, it will probably be better for UK relations
I will agree with you if the oil spill was stopped "today". But it's going to continue for another month at least. And one of the collecting vessels just got hit by a lightning.
This is just gonna send oil's cost high up if they are gonna ban offshore drilling like the Prez just announced. I'd put my money on XOM or CVX
BP is too enormous to fail, correct. But the spill is already out-enormousing it.
I must disagree...investing in America's future, its enviorement, is more important than some lousy stikin profits. A very short sided outlook, one of the reasons we are in such a mess..... Taking the greed out of investing can be a good thing. Its time to rase our emotions, its time to revolt, the people are mad a hell and have had enough !
I will agree with you if the oil spill was stopped "today". But it's going to continue for another month at least. And one of the collecting vessels just got hit by a lightning.
This is just gonna send oil's cost high up if they are gonna ban offshore drilling like the Prez just announced. I'd put my money on XOM or CVX
BP is too enormous to fail, correct. But the spill is already out-enormousing it.
You believe Obama? LOL.
Once gas prices tick up, that ban is TOAST.
You believe Obama? LOL.
Once gas prices tick up, that ban is TOAST.
that is assuming that obama knows what he is doing, from an economic perspective, and i am not sure that is an easy assumption to make.
there were some interesting numbers on the market ticker today on BP fines:
We're 50-some days into this; that works out to somewhere between $7.5 and $13 billion in fines alone thus far. If we presume they can shut the well down in the middle of August, we're looking at another 50 days (roughly) before that happens, leaving the total fines in the neighborhood of $15-25 billion.
those are some sobering numbers and it wouldn't be unreasonable to think that if obama pushes BP hard enough that they will file bankruptcy on that division. i don't think it just a coincidence that they brought goldman sachs lawyers into the mix.
i wonder who would have to pay for the cleanup if BP did declare bankruptcy....
Oil companies aren't going anywhere, but their P/E is going to be milked to death.
Every oil company will experience skyrocketing costs. Fees and taxes are going to be pushed to their limits by gov't regs.
Profit will be juiced like a Florida Orange.
Buy into anything unconventional, it's where the mojo is headed.
Oil companies aren't going anywhere, but their P/E is going to be milked to death.
Every oil company will experience skyrocketing costs. Fees and taxes are going to be pushed to their limits by gov't regs.
Profit will be juiced like a Florida Orange.
Buy into anything unconventional, it's where the mojo is headed.
you realize that any fees/taxes etc. are simply going to be passed on to the end-user (i.e. me you and other consumers), right?
you realize that any fees/taxes etc. are simply going to be passed on to the end-user (i.e. me you and other consumers), right?
Yep, welcome to 4 dollars a gallon.
I'll hold XOM for about three months and then dump them. If BP sinks and XOM can grab some of its assets, it's advantage XOM or Shell. XOM closer to its 52 week low is a screaming buy.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
