Would you buy gas from BP stations?

[joepistole]

That's Pocket change for them, they make 1000 times that every 20 years when a new peak oil scam comes out.

Well I would not say it is pocket change. It is about two years of income. I expect they won't pay this out all at once...probably over the course of a few years.

I think the larger issues are what effect will this have on their relationships with regulators and governments around the globe and on their customer relationships around the globe. It will hurt them, but the question is how much. You already have American government officials calling on BP to suspend its very handsome dividend payments until this issue is resolved.

BP stock could could get so beat up that it would become a very attractive takeover target. I think we are almost there. I personally would not be suprised to see the stock trade down another 10 dollars per share before this is over. BP stockholders have already seen a signficant portion of their investment in BP disappear almost overnight.

 

[Stryder]

BP stock could could get so beat up that it would become a very attractive takeover target. I think we are almost there

That's exactly the problem, it wouldn't take much to suggest a conspiracy to force a take over. After all it's known that Oil is just going to continue to escalate in pricing over time, it's impossible for people to jump the gun and buy enough stock of any oil company to make money on that escalator, however when a companies stock takes a dive because of a "natural disaster", suddenly that's loads of cheap stock.

Obviously anyone investing would have to face the potential of not getting future dividends for a while out of the company, however when it all blows over and the damage is paid off, there will some phat cat that consumed all the shares from this catastrophe sipping cocktails in some exotic location. (phat bstard)

 

[joepistole]

That's exactly the problem, it wouldn't take much to suggest a conspiracy to force a take over. After all it's known that Oil is just going to continue to escalate in pricing over time, it's impossible for people to jump the gun and buy enough stock of any oil company to make money on that escalator, however when a companies stock takes a dive because of a "natural disaster", suddenly that's loads of cheap stock.

Obviously anyone investing would have to face the potential of not getting future dividends for a while out of the company, however when it all blows over and the damage is paid off, there will some phat cat that consumed all the shares from this catastrophe sipping cocktails in some exotic location. (phat bstard)

Yep, that is capitalism. There will always be someone there willing to take a risk and make some money. That is a good thing. That is why we have things like telephones today.

But that does not excuse what happened at Deep Horizon. Companies must be adequately regulated. There needs to be a set of rules that need to be enforced.

Unfortuantely, we had an administration in Washington, DC. that did not enforce law or adequately regulate any industry. And we are now paying for that lack of oversight.

BP is under a lot of stress here...it is well deserved stress. And in my opinion, they are not doing a very good job of it. I think its pretty obvious that their operation is not very efficient and mangement is lacking. I would not be suprised to see their CEO loose his job. In fact I expect it.

 

[stateofmind]

Well I would not say it is pocket change. It is about two years of income. I expect they won't pay this out all at once...probably over the course of a few years.

I think the larger issues are what effect will this have on their relationships with regulators and governments around the globe and on their customer relationships around the globe. It will hurt them, but the question is how much. You already have American government officials calling on BP to suspend its very handsome dividend payments until this issue is resolved.

BP stock could could get so beat up that it would become a very attractive takeover target. I think we are almost there. I personally would not be suprised to see the stock trade down another 10 dollars per share before this is over. BP stockholders have already seen a signficant portion of their investment in BP disappear almost overnight.

You guys are flipping unreal. I think the larger issue is that this company drilled oil in a gulf, didn't give a shit to take necessary precautions (and there IS precedent for this sort of thing, off-shore oil spills have happened...) - and handled their fuck-up even more irresponsibly. Fuck them. I will not be getting my gas at any BP and I won't use any other of their shit products.

 

[Stryder]

BP is under a lot of stress here...it is well deserved stress. And in my opinion, they are not doing a very good job of it. I think its pretty obvious that their operation is not very efficient and mangement is lacking. I would not be suprised to see their CEO loose his job. In fact I expect it.

That might or might not be the case, however I doubt it's only BP that has inefficient management.

For the most part it's down to regulation, in the UK after the PiperAlpha blaze there was a lot of regulation changes in regards to how rigs were regulated. So much so a lot of smaller contractors found the industry too costly to continue facilitating. This caused a number of UK "North Sea" sites to start getting closed down, not so much because of the absence of the resource but because the regulation was tightening on the whole industry.

I used to hear stories of how the rigs operated prior to regulation. A persons life on the rig was worth less than a hour or two of an operation being shutdown, purely because of the oil being worth so much.

I heard stories of guys falling down the drill shaft and not being pulled out, so they just continued drilling with him in, stories of rig cranes having unsafe loads that fell causing cables to be pulled into the ocean which ripped across a riggers leg, whipping his boot off with his foot still in it. There was then of course one involving how welders at the bottom of the rig accidentally filled the enclosed stairwell with vented gases causing a number of other riggers to get monoxide poisoning.

You would never hear about any of that during an Oil companies stock meeting with shareholders back then. To be honest drilling oil back then was as dangerous, if not more dangerous than serving in the Armed forces (but the money was better).

Regulations got passed however in the UK and all this craziness had to stop, but this meant for such companies they were left with overheads. So they would look abroad to places lacking regulation to be able to meet their targets.

The US for a while has lacked various regulations, mainly because it's seen that regulations can slow business and it's the main reason you're left with the "Sue" option. Namely you let companies run amok and only "Sue" them when you have to, rather than regulate them, slow their corporate progress but maintain some essence of safety.

So I guess you have options, yeah by all means cry "Sue them!", but will you ask for regulation which might slow business so that it doesn't happen in the future, or will you just chance that companies are going to be so scared of being sued that they will regulate themselves? (Bean counting dictates, There is a lot of money to be made being unsafe, perhaps more money than what it would cost to deal with being sued. Obviously it's up to the shareholders in the long run to decide to take the risk with the beancounter suggestion or actually do things properly.)

 

[joepistole]

That might or might not be the case, however I doubt it's only BP that has inefficient management.

For the most part it's down to regulation, in the UK after the PiperAlpha blaze there was a lot of regulation changes in regards to how rigs were regulated. So much so a lot of smaller contractors found the industry too costly to continue facilitating. This caused a number of UK "North Sea" sites to start getting closed down, not so much because of the absence of the resource but because the regulation was tightening on the whole industry.

I used to hear stories of how the rigs operated prior to regulation. A persons life on the rig was worth less than a hour or two of an operation being shutdown, purely because of the oil being worth so much.

I heard stories of guys falling down the drill shaft and not being pulled out, so they just continued drilling with him in, stories of rig cranes having unsafe loads that fell causing cables to be pulled into the ocean which ripped across a riggers leg, whipping his boot off with his foot still in it. There was then of course one involving how welders at the bottom of the rig accidentally filled the enclosed stairwell with vented gases causing a number of other riggers to get monoxide poisoning.

You would never hear about any of that during an Oil companies stock meeting with shareholders back then. To be honest drilling oil back then was as dangerous, if not more dangerous than serving in the Armed forces (but the money was better).

Regulations got passed however in the UK and all this craziness had to stop, but this meant for such companies they were left with overheads. So they would look abroad to places lacking regulation to be able to meet their targets.

The US for a while has lacked various regulations, mainly because it's seen that regulations can slow business and it's the main reason you're left with the "Sue" option. Namely you let companies run amok and only "Sue" them when you have to, rather than regulate them, slow their corporate progress but maintain some essence of safety.

So I guess you have options, yeah by all means cry "Sue them!", but will you ask for regulation which might slow business so that it doesn't happen in the future, or will you just chance that companies are going to be so scared of being sued that they will regulate themselves? (Bean counting dictates, There is a lot of money to be made being unsafe, perhaps more money than what it would cost to deal with being sued. Obviously it's up to the shareholders in the long run to decide to take the risk with the beancounter suggestion or actually do things properly.)

I agree, in the US corporations have been allowed to run amuck for more than a decade. And it is time to have them cleanup their acts. This kind of corporate and government malfeasance is not good for anyone, including the stockholders.

 

[superstring01]

That's Pocket change for them, they make 1000 times that every 20 years when a new peak oil scam comes out.

They make over 37 trillion every twenty years? Hardly.

Their annual gross global sales are about $250 billion, with a net income (after all the bills--taxes, salaries, equipment, R&D, etc.--are paid) is actually quite low: about $17 billion.

That puts their sales at approx. $5 trillion every twenty and net income at about $340 billion.

And, no matter how you figure it, it is NOT chump change. It's a huge, gargantuan, staggering part of their profits. Many figures place the cleanup, re-cap expenses and lost revenue for BP as high as $100 billion. If they are that high, it will be $20 years before BP is actually profitable again.

~String

 

[hypewaders]

I say "we" put Beyond Petroleum into receivership, or a historic escrow dedicated to advancing all of their financial and intellectual assets toward the goal of advancing affordable sustainable and abundant energy Beyond Petroleum.

If we can kill thousands of people in retaliation for 9-11, we can do at least this much in intelligent response to petroleum's American Chernobyl.

 

[joepistole]

I say "we" put Beyond Petroleum into receivership, or a historic escrow dedicated to advancing all of their financial and intellectual assets toward the goal of advancing affordable sustainable and abundant energy Beyond Petroleum.

If we can kill thousands of people in retaliation for 9-11, we can do at least this much in intelligent response to petroleum's American Chernobyl.

Oh I can hear it now, Obama first takes over our financial industry...then the auto industry and now he wants to take over the oil industry. He is a socialist nazi etc. etc etc.

Repbulicans/conservatives/Tea Partiers/etc would just have field day with that and Obama and the Democrats know it.

 

[kmguru]

Would you buy gas from BP stations?

YES

It is like saying would you fly Delta if one of their planes had an accident?

 

[Syzygys]

It is like saying would you fly Delta if one of their planes had an accident?

1. If Delta had an accident where the cause was Delta' greed and costcutting.

2. Lots of people wouldn't fly Delta.

FTFY....

 

[Orleander]

Let's say you live where there are BP gas stations but other companies as well nearby. Would you buy your gas at the BP stations or are you pissed at them enough to boycott their product?...

we have a BP station not far from our house. The owners son went to school with my son. He says good morning to me by name every time I walk in there on my way to work. They have nothing to do with BPs mess in the Gulf.
How can I turn my back on a member of my community because of the sign on his station?

 

[stateofmind]

we have a BP station not far from our house. The owners son went to school with my son. He says good morning to me by name every time I walk in there on my way to work. They have nothing to do with BPs mess in the Gulf.
How can I turn my back on a member of my community because of the sign on his station?

Gotta' break some eggs to make an omelet.

 

[Orleander]

Gotta' break some eggs to make an omelet.

I have no idea how that relates to a member of my community vs a gas leak in the gulf

 

[Pronatalist]

I voted neutral, because I couldn't find a closer answer to match what I wanted to say.

I've not so inclined to buy BP, but not so much because of Obama's oil spill, but because I don't like their leftist politics in claiming to be "green." Nor do I think they should have put up with tyrant Obama extorting $20 billion from them, nor in changing laws, by unconstitutional executive fiat, after the fact, or is that expost facto, what's the term? Can somebody help me with the proper legal term here?

Just sell me good quality gasoline at a good price, and stop playing all the sick politics.