Yeah, but BP wasn't having fun were they? They were providing the most valuable thing that man kind uses today. They were providing the resource we all depend on. How many accidents have they had in the last 20 years? Shit happens. It sucks, but it happens.
What's the stop-out level for this short? BP was up a good bit yesterday, and again this morning. Thanks.
The BP decline resumes. Thank goodness overseas markets are the ones that started the shorts this time.
$4,300 a barrel fine if negligence is involved. Read this article to see where I think the law suits will focus: http://www.miamiherald.com/2010/06/14/1680070/text-of-letter-to-bp-ceo-tony.html It also looks to me like Haliburton walks free, as it appears they should. TransOcean may be a little grey, mostly white, a little grey. BP is toast. BK the only way out. Do the math on the fines, but assume 38,000 to 46,000 barrels/day from the beginning. That should average out about right with a well intercept in 65 to 95 days. Segment operations, rebrand all ops outside of North America, and sell off North American operations. Exxon/Mobil or Shell, China has the cash to acquire, but I believe we cannot allow China to purchase the BP leases for strategic reasons. We are very near, or slightly past peak oil, and it's time to consolidate reserves in friendly hands, not divest.
You do not know about the rule of the first bottom? When applied to BP, the rule gives precisely 30.00.
Unfuckingbelievable No one has any idea how much is gushing out right now, but 1.5-2.5 million is a huge amount of oil, it will be decades and decades before this mess is taken care of. How BP stock trades above $30 is still beyond me. Scientists provided a new estimate for the amount of oil gushing from the ruptured well in the Gulf of Mexico on Tuesday that indicates it could be leaking up to 2.52 million gallons of crude a day. A government panel of scientists said that the ruptured well is leaking between 1.47 million and 2.52 million gallons of oil daily. The figures move the government's worst-case estimates more in line with what an independent team had previously thought was the maximum size of the spill. A team of U.S. scientists significantly increased its estimate of how much oil is gushing into the Gulf of Mexico from BP's blown-out well Tuesday. The team said the "most likely flow rate of oil today'' ranges from 35,000 to 60,000 barrels per day. That's a jump from last week's revision upward to 20,000 to 40,000 barrels per day.