Oil Spill Devastation

[7 Wishes]

Please spare me the doublespeak and backtalk. Everyone on the right was calling for Obama's head for not saying enough - and now that he's showed he has a backbone, he's said too much.

He's black. That is pretty much the whole story.

I couldn't give two shits about shareholders who invest into the most greedy and profiteering of sectors, knowing full well BP is all about making money, everything else be damned. The collapse of Limey Petroleum (if it happens) is an inevitable consequence of that company being responsible for the largest ecological disaster in the history of the world, not because Obama finally showed he had a little spine.

They can gavel and wig themselves as far as I'm concerned.

[The_Noble_Cause]

Liket it or not, Its an interconected independent World. Real leadership would be to hold BP morally accountable for the mess it has created in the Gulf without publically lambasting it so much that the share price crashes sixteen percent, and BP which employs many thousands of people in the US and has many American investors suffers.

BP's PR problem isn't because of one too many rose garden press conferences. In case you didn't notice, they just turned one of America’s most precious national treasures into a superfund site. Kinda hard to be low key about that.

[Ehwmatt]

P

I couldn't give two shits about shareholders who invest into the most greedy and profiteering of sectors, knowing full well BP is all about making money, everything else be damned.

Just curious, what type of assets/investments does your portfolio consist of? I'm not asking for numbers of course, just generally.

[7 Wishes]

Heh heh. Ask me what it looked like BEFORE Bush's second recession.

I'm not really comfortable answering that question on a public forum, but I've done a lot of margin trading in the past few years, and as a principle I stay away from car and energy companies.

Call Marcus @ Vodia if you have any questions. Maybe he'll be less obtuse.

[Voyager]

They are now estimating that the oil well has been leaking several million gallons a day since the start. They will never be able to clean it up - it's hopeless. The Gulf as we knew it is gone. They are capturing 15,000 barrels a day, which is 630,000 gallons a day - and they are only capturing maybe 25% tops.

[StyxCollector]

I'm in New Orleans this week for a convention, and what's sadder to me than the tragedy itself is all of the "ambulance chaser" TV ads I see for lawyers trying to drum up lawsuits (which would get consolidated anyway) based on the oil spill.

I know oil is part of people's portfolio, but do people in the UK seriously expect the US to do a nod and a wink here when it's going to affect a large portion of the US for quite a long time if not permanently?

[Voyager]

I'm in New Orleans this week for a convention, and what's sadder to me than the tragedy itself is all of the "ambulance chaser" TV ads I see for lawyers trying to drum up lawsuits (which would get consolidated anyway) based on the oil spill.

Hey, that is a killer idea. Let's go have a gulf coast MR Beach Fest and take a dip in the oil, then start a class action lawsuit for damages.

[Saint John]

I'm in New Orleans this week for a convention, and what's sadder to me than the tragedy itself is all of the "ambulance chaser" TV ads I see for lawyers trying to drum up lawsuits (which would get consolidated anyway) based on the oil spill.

Hey, that is a killer idea. Let's go have a gulf coast MR Beach Fest and take a dip in the oil, then start a class action lawsuit for damages.

I'd be the asshole that got too drunk and re-enacted your avatar.

[fredinator]

Watched Larry King tonight and one of the guests visiting Louisiana said that this is 4x worse than the Exxon Valdez so far . I wish there was a way to nuke it closed... Or invent some kind of giant cork or something, dang, or a giant blob of bubblegum or something of that sort. Anything. Discovery is going to have a show this Thursday or next documenting the explosion and what's happened since in detail.

[Voyager]

This really is a horrific national tragedy beyond the scope of anything imaginable for gulf coast residents and beyond. If a hurricane vomits that shit onstage, it will be a major disaster.

I just saw Governor Jindal of Lousiana on CNN desperately trying to be positive about how this can be fixed. This is not something that can be spun by a politician. This oil is being atomized under high pressure at 5,000 feet below see level at the rate of over 2-million gallons a day, and strewn all throughout the gulf. How can that be "fixed"? It's an environmental disaster beyond what any of us can imagine. Our country has suffered a horrific wound. I personally don't believe it will be cleaned up in my lifetime or beyond.

If you're looking to invest, put your money on inland saltwater fisheries. Within a few years people will be paranoid about anything else due to petroleum contamination threats. The "organic" brands of shrimp, crabs, oysters, etc. will be worth double the price.

[stevew2]

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/7815713/Barack-Obamas-attacks-on-BP-hurting-British-pensioners.html


Barack Obama's attacks on BP hurting British pensioners

Barack Obama has been accused of holding "his boot on the throat" of British pensioners after his attacks on BP were blamed for wiping billions off the company's value.

City investors said the president was jeopardising the pensions of millions with his "excessive" criticism of the energy company following the Gulf of Mexico oil spill.

Before the accident on April 20, BP was Britain's biggest company, with a stock market value of £122 billion. Since then, £49 billion has been wiped off its value.

On Wednesday, BP's share price fell a further 17.35p to 391.55p – representing a 40 per cent drop on the 655p price of a share two months ago.

Experts have said that the clean-up costs of the oil spill will run to between £10 billion and £20 billion but the biggest cost to the company is from investors dumping stock for fear of BP being further punished by the US Government.

Those fears have been heightened by Mr Obama's increasingly aggressive rhetoric towards BP, which some investors see as an attempt to deflect criticism of his own handling of the crisis. Last month, a White House spokesman said the President's job was to keep his "boot on the throat" of the company.

In the past week, Mr Obama, who insists on referring to BP by its former name British Petroleum, has suggested that its chief executive, Tony Hayward, would have been sacked if he worked for him.

BP's position at the top of the London Stock Exchange and its previous reliability have made it a bedrock
of almost every pension fund in the country, meaning its value is crucial to millions of workers. The firm's dividend payments, which amount to more than £7 billion a year, account for £1 in every £6 paid out in dividends to British pension pots.

BP is so concerned about Mr Obama's power to affect share value that it has urged David Cameron to appeal to the White House on its behalf. Downing Street, however, has refused to get involved. "We need to ensure that BP is not unfairly treated – it is not some bloodless corporation," said one of Britain's top fund managers. "Hit BP and a lot of people get hit. UK pension money becomes a donation to the US government and the lawyers at the expense of Mrs Jones and other pension funds."

Mark Dampier of the financial services company Hargreaves Lansdown said: "[Mr Obama] is playing to the gallery but is not bringing a solution any closer. Obama has his boot on the throat of British pensioners. There is no point in bashing BP all the time, it's not helpful. It is a terrible situation, but having the American president on your back is not going to get it all cleared up any quicker."

Neil Duncan-Jordan, of the National Pensioners Convention, said: "Most ordinary people would not have thought that BP would have an impact on their retirement but if BP's share price goes down then their pension pot goes down.

"Most of those pension funds are invested in the default option, which is stocks and shares, and so if BP goes down the pan then their pension pot goes down the pan."

Although fund managers accept that BP must pay compensation for the oil spill and the damage it is doing to parts of America's coastline, they argue that the cost to the company's market value from the president's criticism is far outweighing the clean-up costs.

One investment manager said: "Experts have said that the clean-up costs could reach a maximum of £20 billion which means the hit to BP is excessive on any scale."

There is particular anger at US interference in the company's dividend policy. Earlier this week, two senators suggested BP should be banned from paying out to shareholders until the full clean-up costs are known. One fund manager said: "Who is Obama to dictate whether UK pension funds are paid a dividend? Others in a similar position have been able to pay dividends."

Jason Kenney, a oil and gas analyst at ING, said: "When you compare how Britain reacted towards the US company Occidental after its Piper Alpha disaster where 167 people died, they are worlds apart.

“The US reaction is getting towards hysterical. Half of them seem to think the US is knee deep in oil. It’s difficult to underestimate the effect 24-hour TV dinner media coverage of the spill is having over there.”

Tom Watson, the former Labour minister, was planning to table a Commons motion today in support of BP and urging MPs to understand the importance of the company to pensioners in this country.

He said last night: “BP is perhaps the most strategically important company for Britain and for UK pensioners. I want to see the UK government defend the company while it is under this attack.”

He added: “Of course the company must clean up the spill but let’s be under no illusion – all oil companies could have been in this situation whether British, American or any other nationality.

“I am sure there are American oil companies that want BP to fail but it is British pensioners that will badly lose out if they do.”

Ken Salazar, the US interior secretary, said yesterday that the Obama administration would require BP to pay the salaries of any workers who were laid off as a result of the government’s moratorium on offshore drilling, imposed while safety reviews take place.

“BP is responsible for all the damages,” Mr Salazar told the Senate’s energy and natural resources committee, in one of five hearings taking place on Capitol Hill.

BP is due to announce its second quarter dividend and results on July 27.

There is a fear that unless the Government intervenes on BP’s behalf, the company will continue to be hit, particularly in the run-up to the midterm elections in America.

Last week Vince Cable, the Business Secretary, described America’s anti-British rhetoric as “extreme and unhelpful”.

On Monday, The Daily Telegraph disclosed that the Foreign Office was concerned that the criticism of BP was harming Anglo-US relations.

Awe poor BP, go lick there stupid ass.they make more than enough money ,them fuckers should pay out there ass for this shit they caused and they will

[ScarabGator]

Incredible. Your "contribution" to this thread was a c/p from good ol Sarah Palin. . I suspect you still want to "drill baby drill" eh?

Too much.

Looks to me like Palin kicked your sorry asses last night in the elections.

"I can see November from my house."

Oh really now? I too can see November and it sure doesn't look half as bleak as it did 3 months ago. In California, your party is going to throw millions towards the US Senate seats and guess what, you aren't going to win. Also, good luck with Meg Whitman, millionaire 80 times over defeating Jerry Brown for Governor...ever heard of Wall Street vs Main Street?

Look at Arkansas. Blanche Lincoln, whom all the GOPers hate, won. She now gets pitted against Bozeman, and by the numbers of voters yesterday, there were so many Democrats out there, that they should be able to fend off the Bozeman challenge. Loss number two. Where is your next play?

you dumb mother fucker. You refuse to see the writing on the wall! Your democaps are through!!!! Face it bud, this was the last straw!!!

Go have another beer and hang a few more black guys, you backasswards country fuck. Learn to fucking spell too, it's embarrassing to the university of Floridumb.

Look here cock juice, I havent ever hung any black guys; however I have been told Im AS HUNG as a few black guys....and certainly have gotten drunk with a few....does that count?
I am embarassing to my higher education? Lets see-I am an Engineer that designs fiber optic networks. Now what are you doing with yours? Is pizza delivery one of the required courses at Washington State????

[ohsherrie]

He's black. That is pretty much the whole story.

Yep, in an wingnut shell.

[Rockindeano]

Look here cock juice, I havent ever hung any black guys; however I have been told Im AS HUNG as a few black guys....and certainly have gotten drunk with a few....does that count?
I am embarassing to my higher education? Lets see-I am an Engineer that designs fiber optic networks. Now what are you doing with yours? Is pizza delivery one of the required courses at Washington State????

Creambreath-

LOL, you don't want to compare educational institutions there big guy. I went to a school in the PAC 10, which is the highest accredited conference for academics in America, aside from the Ivy league. The SEC is a football beast to be sure, but cannot hang with us scholastically, except Vanderbilt.

[ScarabGator]

Look here cock juice, I havent ever hung any black guys; however I have been told Im AS HUNG as a few black guys....and certainly have gotten drunk with a few....does that count?
I am embarassing to my higher education? Lets see-I am an Engineer that designs fiber optic networks. Now what are you doing with yours? Is pizza delivery one of the required courses at Washington State????

Creambreath-

LOL, you don't want to compare educational institutions there big guy. I went to a school in the PAC 10, which is the highest accredited conference for academics in America, aside from the Ivy league. The SEC is a football beast to be sure, but cannot hang with us scholastically, except Vanderbilt.

maybe so porcuprick, but theres a lot more to college than just an education!!!

[Rockindeano]

Look here cock juice, I havent ever hung any black guys; however I have been told Im AS HUNG as a few black guys....and certainly have gotten drunk with a few....does that count?
I am embarassing to my higher education? Lets see-I am an Engineer that designs fiber optic networks. Now what are you doing with yours? Is pizza delivery one of the required courses at Washington State????

Creambreath-

LOL, you don't want to compare educational institutions there big guy. I went to a school in the PAC 10, which is the highest accredited conference for academics in America, aside from the Ivy league. The SEC is a football beast to be sure, but cannot hang with us scholastically, except Vanderbilt.

maybe so porcuprick, but theres a lot more to college than just an education!!!

Very true. Point for you dude.

[Voyager]

Barack Obama has been accused of holding "his boot on the throat" of British pensioners after his attacks on BP were blamed for wiping billions off the company's value.

Stupid brits! Your own worthless company BP is the one who wiped out your retirement. What the fuck did Obama have to do with it?

[Rockindeano]

Barack Obama has been accused of holding "his boot on the throat" of British pensioners after his attacks on BP were blamed for wiping billions off the company's value.

Stupid brits! Your own worthless company BP is the one who wiped out your retirement. What the fuck did Obama have to do with it?

Without going back and looking, I'd bet my pecker that stevew2 did NOT write this quote. You had to have misquoted somebody else. Just sayin.'

[slucero]

Just for grins:

British Petroleum - Beneficial owners as at 31 December 2009a b

...............................................................Percentage of shares in issue
Range of holdings.......Institutions.........Individuals.......Total
By principal area
UK.........................................33........................7................40
US.........................................25......................14................39
Rest of Europe........................10........................-................10
Rest of World...........................7........................-..................7
Miscellaneous..........................4........................-...................4

TOTAL...................................79.......................21..............100



Largest percentage of individual shareholders are Americans...

[Saint John]

Largest percentage of individual shareholders are Americans...

Mutual funds and Index funds.

[artist4perry]

Heart wrenching pictures. I love the sea, to see that beautiful sand and ocean blackened by that gloppy greasy mess saddens me to no end. I love animals and to see the birds and sea creatures harmed is horrible. Reminds me of how I felt when we saw that Koala that was so desperate during the Aussie fires, that they took water from humans, so against their nature.

[Rockindeano]

Fact finder- your pictures...this is EXACTLY why drill baby drill(offshore) is moronic. It's irresponsible and selfish. I am glad California, Oregon and Washington prohibit that shit.

[Saint John]

Fact finder- your pictures...this is EXACTLY why drill baby drill(offshore) is moronic. It's irresponsible and selfish. I am glad California, Oregon and Washington prohibit that shit.

Drilling offshore, when done at proper depths, is about as safe and environmentally sound as anything. It's when you're forced to drill a couple miles down because some fucking tree huggers don't want to look at oil rigs that the irresponsibility begins. Had this been done in a couple hundred feet of water they would have had it closed in about 72 hours ... or less.

[Rockindeano]

Fact finder- your pictures...this is EXACTLY why drill baby drill(offshore) is moronic. It's irresponsible and selfish. I am glad California, Oregon and Washington prohibit that shit.

Drilling offshore, when done at proper depths, is about as safe and environmentally sound as anything. It's when you're forced to drill a couple miles down because some fucking tree huggers don't want to look at oil rigs that the irresponsibility begins. Had this been done in a couple hundred feet of water they would have had it closed in about 72 hours ... or less.

I had no idea you were such a fucking expert on the subject Mr. Exxon. The rig that blew up, the one which caused this spill, was propped out of the water by 200 feet or so. Are you saying the construction of this ill well was due to environmentalist pressure, making them sink the fucker so far underground?

Dude, call us what you want, but what good is a pristine California coastline, and believe me it is, with a bunch of hacked up Eiffel towers popping up out of the water? We have derricks in Ventura County (40 miles up from where you were in Malibu), and it's a fuckin eyesore. There is something to be said about the environment, and it is important dude. Calling people tree huggers because they don't want their view ruined(forever), is a bit off don't you think? Remember how much you loved the beaches here? Now throw in some giant erector sets into the Pacific and then tell me how beautiful the beach is. There are other places to drill that would have no impact whatsoever, like say, Wyoming. Shit places like Wyoming, Nevada and southern Idaho could be drilling paradise.

[Saint John]

Fact finder- your pictures...this is EXACTLY why drill baby drill(offshore) is moronic. It's irresponsible and selfish. I am glad California, Oregon and Washington prohibit that shit.

Drilling offshore, when done at proper depths, is about as safe and environmentally sound as anything. It's when you're forced to drill a couple miles down because some fucking tree huggers don't want to look at oil rigs that the irresponsibility begins. Had this been done in a couple hundred feet of water they would have had it closed in about 72 hours ... or less.

I had no idea you were such a fucking expert on the subject Mr. Exxon. The rig that blew up, the one which caused this spill, was propped out of the water by 200 feet or so. Are you saying the construction of this ill well was due to environmentalist pressure, making them sink the fucker so far underground?

Dude, call us what you want, but what good is a pristine California coastline, and believe me it is, with a bunch of hacked up Eiffel towers popping up out of the water? We have derricks in Ventura County (40 miles up from where you were in Malibu), and it's a fuckin eyesore. There is something to be said about the environment, and it is important dude. Calling people tree huggers because they don't want their view ruined(forever), is a bit off don't you think? Remember how much you loved the beaches here? Now through in some giant erector sets into the Pacific and then tell me how beautiful the beach is. There are other places to drill that would have no impact whatsoever, like say, Wyoming. Shit places like Wyoming, Nevada and southern Idaho could be drilling paradise.

Save all of the sappy drivel for some far left, lobotomized zombie. I'm as environmentally conscious as anyone. The fucking rig in question was 41 miles offshore. I'm not talking about putting the God damned thing close enough that you're going to run into it with a fucking wave runner, but let's be a bit more practical. As for the "view," Californians have far bigger problems to face than what's sitting harmlessly in the water ... like the 25% of all children in the state that live in poverty, the 3 million illegals in the state (20,000 of whom call prison home), and the 10 billion dollars per year that they cost tax payers. The state is bankrupt, has a water shortage and rolling blackouts, but you're worried about something that would bring tons of money and jobs ... because you can see it in the distance? Yeah ... I'm the one that doesn't know what's important.

[Rockindeano]

Good on him. If you inherited the mess he did, you'd drink too.

[Rockindeano]

Good on him. If you inherited the mess he did, you'd drink too.

Well then we'll see.

You guys wouldn't let W drink, and ridiculed his girls partying. Maybe Barry works better on rum?

W proved he couldn't handle alcohol, and even did coke. The guy was an abuser of any and all drugs and it certainly showed in his 8 years of office. So far Obama has proven he can handle it. As for the Bush Twins, I could care less what they did.

[ScarabGator]

Good on him. If you inherited the mess he did, you'd drink too.

Well then we'll see.

You guys wouldn't let W drink, and ridiculed his girls partying. Maybe Barry works better on rum?

W proved he couldn't handle alcohol, and even did coke. The guy was an abuser of any and all drugs and it certainly showed in his 8 years of office. So far Obama has proven he can handle it. As for the Bush Twins, I could care less what they did.

holy shit dean, why dont you just ask obama if you can blow him??????

[Babyblue]

Good on him. If you inherited the mess he did, you'd drink too.

Well then we'll see.

You guys wouldn't let W drink, and ridiculed his girls partying. Maybe Barry works better on rum?

W proved he couldn't handle alcohol, and even did coke. The guy was an abuser of any and all drugs and it certainly showed in his 8 years of office. So far Obama has proven he can handle it. As for the Bush Twins, I could care less what they did.

holy shit dean, why dont you just ask obama if you can blow him??????

[RossValoryRocks]

Sorry fellow conservatives...but blaming the President for this mess is absurd. The single point of failure is BP. Several new items have come to light in recent days that show that the rig was listed by the folks at BP (the engineers not the suits) as cutting corners on safety. I am all for unrestrained (as much as possible) captialism, but BP ignored the recommendations of their own scientist and engineers in pursuit of profit. That pursuit killed ELEVEN people and fouled the Gulf of Mexico. They repeatedly LIED to the government about the amount of oil that was leaking and made is seem like it wasn't as bad as it was.

I grew up as an oil brat. I know the industry inside and out, and let me tell you that BP is at fault.

I have said it before I will say it again; The Government (Federal that is) is good at only TWO things....blowing stuff up with the military, and spending our money. They are a BIG fail at everything else.

Blaming President Obama for this is as disingenuous and the liberals blaming Bush for Katrina. It smack of partisan politics and has nothing to do with objective truth.

The blame for Katrina lies with the people who wouldn't leave despite warnings, MULTIPLE administrations that allocated money to shore up the levees but never spent it and mother nature. The blame for the spill lies SOLELY with BP.

Could Obama have done things better? SURE...but once the cat is out of the bag it's not right, nor fair, to blame him because he can't put it back in immediately is just wrong.