I am doing my part of boycott BP products by stop buying castrol motor oil. No BP gas stations in my town(except avgas in airstrip), I am sure there many people will boycott BP. When oil spills over shoreline of Florida, even more people will be pissed.
you are very much correct. http://www.nytimes.com/2010/06/13/us/13florida.html?hp article describes the historical choices for development made by 2 states. Florida opted for tourism. Louisiana opted for oil.
Just a quick one to Robert as regards shareholders pension funds holding BP, apparantly 40% of BP is owned by British shareholders / pension funds , but 39% is owned by U.S. shareholders /pension funds , I think it was Micheal Portillo who said as much on tv other day.
Thanks for clarifying. You mentioned this on another thread about BP stock price. What puzzles me is that WSJ and other business news media has not mentioned this fact that BP won't go to zero even if the US entity disappears. Next week is options expiration week. also BP will be deciding on the dividend on Monday, so there will be volatility.
BP needs to go bankrupt. This is the most evil company in the history of the world. They complained to the US about oil nationalization in Iran and the CIA installed the Shaw. Look at all the blowback that alone has caused. All to make money, the world be damned.
Conspiracy theories aside BP will crash and burn; like the poster said BP is the most evil company on the planet and although this is hyperbole alot of people feel this way including the most powerful government on the planet. BP shares are going to take another dive. http://www.boston.com/news/nation/w...ma_to_report_on_how_hell_hold_bp_responsible/
BP's profit before taxes is 5 billion. So far they've spend 1 billion on clean up. They have the money to pay for this. And though it'll hurt like a bitch, they are far from bankrupt. Cleanup estimates are what...25 billion at the moment? So that's 5 years of profit, which is far quicker than exxon recovered Then again, with exxon we knew exactly how much was spilled...here, it's way, way more, and potentially even more
with oil about 77 it is less than two years of profit most likely (all things being equal I would expect this spill to lower the profits beyond the costs as it takes away from doing things that make a profit) But it is unlikely that this would not be spread out over many years as well based on other large civil liability cases. obama is pushing for an escrow account to be administered by a third party (guessing the democrat national party would be his first pick). At the very least it has the appearance of wanting to be in control of the winners and the big winners (you know if the government runs it there is going to be headlines of where the money went....) anyway, its probably going to be one wild ride this week with BP. short or long you can probably make some good coin if you time it right
ouch that hurt......time to buy? time to short....? BPs next move is an absolute coin toss, dividend cut yes/no. Only stupid people play this game at this point in time.