Friday, June 11, 2010

BP's (NYSE:BP) Liability $80 Billion?

Reports that government scientists have asserted the amount of oil spilling into the Gulf of Mexico on a daily basis could be as high as 40,000 barrels, would put BP's (NYSE:BP) liability at a staggering $80 billion.

Of course these numbers can't in any way be trusted, as government scientists are no different than saying a pimps' prostitute. They both are for sale and do what is told them.

Even the numbers thrown out by the scientists are suspect, as first they hit out at BP for understating the amount of oil leaking into the Gulf at the early stages of the accident, then they now say the spill is from 20,000 to 40,000 barrels a day.

Which is it government scientists? Is it 20,000 or 40,000? The numbers are so far apart as not to be considered credible in any way.

What these so-called scientists are saying in doing is attempting to paint BP in a bad light, but at the same time cover their own worthless rear-ends by using these types of numbers.

Even the 20,000 a day is in line with the original estimates by the government, which were from 12,000 to 19,000 barrels a day. So how does that remain the same on the lower end, while expanding to outrageous numbers on the higher end. Seems like they aren't scientists, but government mouthpieces doing the bidding of their masters.

If those numbers were even close to being accurate, BP would probably be finished as a company, and more than likely the reason they're even seriously being thrown out there is in order to extort more money from BP, or portray them in the light of needing to be taken over, which is what some Democrats have been drooling over to do.

It could also be an attempt to arrest the growing discontent of the British people over how BP has been treated by Obama and his administration, which have brought statesmanship to a new low by their street talk and methodology, rather than respectful dialogue.

Democrats and Obama know they're being watched closely on the financial side of things here, as they've already devastated the country and its financial future in 18 months.

Now they would want nothing better to get control of BP and extract billions out of them in order to keep a distance from spending more in an attempt to take care of the circumstances surrounding the oil spill in the Gulf.

I'm primarily referring to the ridiculous notion that BP should pay for the decision Obama made to impose a 6-month moratorium on oil drilling, which will devastate the region which is so reliant on oil to move their economies.

Obama and the Democrats are unbelievable trying to make BP pay for the unemployment benefits of those Obama has put out of work.

Why this is such an outrage is the oil rigs affected by the moratorium have already been inspected and cleared, and there's simply no reason to keep them from resuming operations.

The whole idea of the moratorium was to take a breather and be sure there weren't other possibilities of an accident happening. Now that that has happened with 29 of the 33 oil rigs still in the Gulf, there is no reason to resume operations and get people working again.


  1. At least this article is in no way biased. /sarcasm

  2. Wow what a great article and is no way biased at all. *Cough* *Cough*

  3. We get it. You're a liberal and you don't like the spin of this article. You can go back to watching Oprah now.

    *cough* Unemployed *cough* *cough*

  4. I'm a turtle choking on oil. *cough* *cough*

  5. Come here turtle and let me hit you with a hammer and put you to sleep.........

  6. If they are giving such a big range of numbers, why do they even give numbers and call themselves scientists? Anyone can gue numbers. I see CNN is quite biased. Blame, blame, blame.
    All that I am saying is everyone likes the blame game in America.
    Everyone likes big SUV, consume plenty of gas; had no clue how much risk involved. Why not promote public tranportation (such as trians in main city).

    Does anyone think how much damage the wars around the world have caused and still causing. If I were at receiving end, I could blame US for damage. No one talks about it as if all of it is good. I hope there is better way to deal with terrorism. Also, we probably should not borrow so much and spend on war.
    May be the wrong post...

  7. isn't the point that BP has an awful safety record and it was shear negligence that caused this. Yes their is the arguement that we are all to blame for using the oil that they produce, but we are not to blame for them doing a crappy job of it. Do you blame the people eating at a restaurant when they serve tainted food? no it is the restaurants fault for not following health codes. BP messed up, big. The specific numbers are just guesses, the problem is not with the scientists estimates, they're giving the best estimates that is possible given the data, but rather with the fact that policy/fines can be dictated by something that is unfortunately very difficult to determine.
    Also I can't believe that I wasted a minute of my life reading this article.

  8. Oil Pollution Act of 1990 put a cap on damage per barrel. BP VOLUNTEERED to pay more than this cap for the clean up so as to do the right thing (or manage it's PR however you prefer to see it).

    So for the US Government to use the same dollar compensation per barrel leaked formula to extract potentially more than the cost of the cleanup would seem a bit counterfactual to me.

  9. "If those numbers were even close to being accurate, BP would probably be finished as a company....."

    Thanks "Ray", that says it all.

  10. I am really pissed off. I had 20% of my holdings in bp before the crap happened. I sold half then sold the other. I bought more and sold lower back to zero.

    Then mr Coast guard the retard is quoted in a news article that it seems there is no more oil spewing up. So like a retard I believe maybe the top kill worked because bp goes from 40 to 45. So I buy back in. Then I watch on the news the next day a picture of the oil spewing out but it is covered in mud. I feel like a retard.

    My biased opinion is that the US government has no ethical right to try to strong arm bp into paying no dividends. It makes me think the US is intentionally manipulating bp into a penny stock company. And now they want bp to pay for the laid off workers. That has nothing to do with bp. Bp has no responsibility for that.

    The only thing bp could have done is have been more safe and not so reckless.

    I am so retarded to have bought back in at 45. I did not know the US was going to attack Bp so badly. And that coast guard is a moron who should keep his retarded mouth shut. He or the US government can pay my for all my losses after they destroy the value of my BP investment.

    That is how I $#%$ing see it.

    Moreover I bought a few more shares today. So I am really going to get pissed off if things dont get better. I want to average back up, for the stupid mistake of buying too high at 45.

    I have a better idea. Lay off the retarded coast guards. they are useless!!!!! And use that money to pay for the laid off workers of the 6 month ban on oil drilling in the gulf.

    Hey I have another idea. The US is wasting too much money on the war in Afganistan. That money could be used for the laid off workers instead.

  11. Al, nobody should listen to your ideas. You sold all your BP shares and bought back in when there was a spill. Even if they did "plug the hole," it had already been made clear that they would have to pay for all cleanup costs and their earnings would go down the toilet.

    And to the author of the post, you sound like you're one of the Republican fear-mongers who accused Obama of being a terrorist during the elections. BP's compensation is for the cleanup and for all the fishermen the oil spill DIRECTLY put out of business. Is it reasonable? Yes, it is.