Everyone is going to be faking sickness to cash in. Check the cash signs in this crack ho's eyes. Good time to be a land shark down there. http://www.cnn.com/2010/HEALTH/06/03/gulf.fishermans.wife/index.html Rennick out
1) If there is ultimately one, single, gigantic, class action lawsuit, maybe I can opt-in and receive a check for $1.47 within 6 years time. :eek: 2) I can profit more by trading BP.
There's a $75 mil cap on liability. BP is nice enough not to hide behind that cap with regard to clean up costs. I for one am not boycotting them. That's also Obama's answer to this oil mess: Let the lawyers loose on them.
Actually, there is word that congress is trying to eliminate the cap...meaning the liability could be limitless.
Remember the Valdez? It only took Exxon (later Exxon Mobil) 25 years to litigate !!! Seeing people wiping off marsh grass with rags while the gusher flows unimpeded is senseless IMO. BP will probably merge with the Venezuelan Oil Company and then we can all be happy again ; ) <*)))><
Every oil company in the world would have to pull out of the US if the US were to bankrupt BP over this. Who could possibly afford to pump oil if 1 accident will sink you. Who would insure them? The truth is we need oil, and accidents happen. Obama's playing angry to earn some votes and improve his ratings. Why is no one blaming Obama? How long has he been President now? Did he have no time to look over such an important part of the country? Did he not know that this exact same thing happened 31 years ago? Fitch downgraded BP, and put the cost to them at worst case scenario at 3 billion dollars. That'll come right out of petty cash. They won't cut their dividend, because that will wreak havoc on the British financial system. Asking them to cut their dividend is just politics anyway, because they have more cash than an Arab oil field owner. BP at these prices is offering one of the highest dividend yields out there. From a value perspective, funds are buying. Everyone was furious at Exxon in the past too, but they forget.
and when gas prices go up because Obama whaled on the oil companies, the gov't will step again and make a bigger mess. This leftist activism will backfire.
BP was hoping it would never confront an accident like this. It was completely unprepared. Too bad. They got the accident and have realized that hope is not an investment strategy, and if they don't go bankrupt, it won't be for lack of trying.
They can and will get around the $ cap. They don't need congress to pass anything. They hit them with a crime and bam, as much money as they want. Some court has ruled against oil companies before that no intent necessary to find them criminally negligent and get the money. Don't ask me how one can commit a crime without intent in America, but apparently this is now precedent. So Holder will charge them with something, and then all the money they want is there.