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  1. #26
    Banned Muadib's Avatar
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    ^ It had to happen... The rabid, knee-jerk response which we have expected... This act officially shuts down a multi-billion $$$ a year industry and 30%+ of future oil & gas reserves in the GOM... Not to mention the lost jobs, repressed gulf coast economy and reduced tax revenues...

    BP will not be able to survive as a company once the smoke clears and all of the facts are laid to bare... For a company with the worst safety record in the industry, they have done this to themselves...
    Give a man a match, and he'll be warm for a minute, but set him on fire, and he'll be warm for the rest of his life.

  2. #27
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    On BBC this morning there was a stock analyst that thinks this might be a good time to buy, even though his company has an official "SELL" on BP Stock.

    Other than the usual blather one interesting fact did emerge.

    The Exxon Valdez court settlement (just the fine alone) came to 1 (ONE) years pre-tax profit. They are still paying bills for cleanup years later.

    This disaster is considered to be twice that of the Valdez spill, even by conservative estimates. There for he calculates that a fine of a year's pre-tax BP profits per multiple of the Valdez could be forthcoming.

    So even at the conservative estimate of twice the Valdez your talking about two years pre-tax as a base for any fines.... since BP's cap has been halved in the recent days it would surely have an impact on their ability to pay out substantial dividends going forward. Since BP pays 1 out of every 6 or 7 dividend dollars, on the London Exchange, it will impact a lot of funds, retirement and otherwise..

    Not a good scenario, not on my list of acquisitions at least until some determination as to how severe the situation is.

    E. G.
    "If you can't stand the answer --
    Don't ask the question!"

  3. #28
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    Mid's Avatar
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    BP chairman summoned
    Jun 12, 2010

    Pressure on oil giant intensifies as panel doubles leak estimate


    Mr Svanberg has been summoned to a meeting with President Barack Obama next Wednesday to answer questions about the Gulf of Mexico oil spill.

    PHOTO: REUTERS

    LONDON - UNITED States President Barack Obama has summoned British oil giant BP's chairman to a meeting over the Gulf of Mexico oil spill, as a government panel doubled its estimate of how much oil has been spewing from the out-of-control BP well.

    Mr Carl-Henric Svanberg and other company officials were invited to a meeting set for next Wednesday by Admiral Thad Allen, a Coast Guard top brass who is leading the US government's response to the crisis.

    'The BP Deepwater Horizon spill is the largest environmental disaster in our nation's history,' said the letter to Mr Svanberg from Adm Allen.

    'Our administration is not going to rest or be satisfied until the leak is stopped at the source, the oil in the Gulf is contained and cleaned up, and the people of the Gulf are able to go back to their lives and their livelihoods,' it said. Mr Obama will participate in part of the meeting, Adm Allen wrote.

    The White House did not ask to see BP's chief executive Tony Hayward, who Mr Obama has denounced for comments he made about the disaster.

    The call came as British Prime Minister David Cameron said he would be discussing BP's handling of the leak with Mr Obama today.

    straitstimes.com

  4. #29
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    Quote Originally Posted by buriramboy View Post
    Quote Originally Posted by teddy View Post
    Will western nations still accept 10 fatalities per day as acceptable to protect the BP oil pipeline from the caucasus to pakistan?

    Will Iran bow to the pressure from the UN, NATO, Europe and north america and allow it's oil fields to be exploited by BP?

    If the answer is yes to the above, BUY now.
    I need to know if that is 10 Paki or British deaths before i can answer yes or no.
    Pakis don't count.

  5. #30
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    25-10-2013 @ 04:45 PM
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    Another example of how man continually is making mistakes in the work place and governments step in and compound the effects to a non proportionate degree. As long as people are involved there appears to be no system that can safely withstand the human contribution/meddling, no matter how much legislation is enacted.

  6. #31
    Thailand Expat Boon Mee's Avatar
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    How 'bout that 20 Billion dollar shakedown of BP by President Disaster, eh? Classic Chicago-style Mob tactics to strong-arm their victim. I agree with the Congressman from TX who apologized to BP for ObowMao's "deal they couldn't refuse". When will a CEO stand up to this thug and his enforcers!
    A Deplorable Bitter Clinger

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