BP - off the hook ? ...and a BUY ?

TRUSt_NO_1_2

amcluesent wrote: »

I'm starting to think BP is being sabotaged by place-men working from the inside. After all, every explosion and failure has been in the USA, despite its reams and reams of safety regs. But they don't want another oil-major taking business...the number of combined failures on the Gulf rig are too much for coincidence.

I have to agree that the efforts so far,would take pride of place on Rogue Traders.
When I took 20 seconds to find out it was a ruptured pipe, I thought you're average plumber could sort that one out.
eg:

1.Put a compression fitting (with a valve) on it,having 'cleaned the joint' first of course.instructions..1. leave valve open 2.attach fitting securely. 3 .Close valve.(£250 per hour ..no call out fee)
2.Stick a flexible hose on it, and put it into the toilet.Then say you've eaten a lot of greasy food lately.
3.Stick a banker in the end of the pipe.It might not work,but it'll cheer a lot of people up.
4.Stick a load of mud and aother 5hit in the pipe...you know like a 4 year old would try....Oh they tried that ..and it didn't work !!!

artha

amcluesent wrote: »

I'm starting to think BP is being sabotaged by place-men working from the inside. After all, every explosion and failure has been in the USA, despite its reams and reams of safety regs. But they don't want another oil-major taking business...the number of combined failures on the Gulf rig are too much for coincidence.

Although your speculation may seem a bit far fetched, part of me suspects that BP is taking a bashing simply because it is a non US company. I don't understand the claims that BP aren't doing enough when(as far as I'm aware) there are no leading experts or politicians willing to say where BP is going wrong(if it is) and defining what is needed in practical terms. Of course it is a major problem and of course it needs to be stopped as soon as possible but the continuing tirade by Obama is surely just appeasing the baying wolves that keep him in office

worldtraveller

TRUSt_NO_1 wrote: »

You cannot change laws retrospectively (well I suppose Zimbabwe etc can).They have limited liability...end of from what I can see.

Not strictly true.

An interesting article in this regard from another BP thread:

http://forums.moneysavingexpert.com/showpost.html?p=32533839&postcount=47

97trophy

amcluesent wrote: »

I'm starting to think BP is being sabotaged ...................the number of combined failures on the Gulf rig are too much for coincidence.

Never underestimate the human ability to screw-up in a big way.

amcluesent

Investors cash in on BP crisis

"Private investors were clamouring to buy cheap BP shares last week. TD Waterhouse, the broker, said trading in the oil giant doubled last week, with 80% of transactions being buys."

Uh, oh...Billy Punters trying to catch a falling knife. This one's heading for the toilet for sure!

StevieJ

The income fund managers have a fair influence on the direction of BP shares here are a some of their opinions.


http://www.h-l.co.uk/news/feature-articles/bp--all-at-sea

amcluesent

There's credible evidence, suppressed by the controlled media, that the rig was subject to an attack by a North Korean mini-submarine, launched from a North Korean flagged 'merchant' ship which didn't follow it's filed sailing plan.

Why? A triple whammy. The rig itself was build in South Korea, so raising useful doubts about their engineering prowess. It will have long term effects on US oil supplies as there's a knee-jerk reaction to deep-water wells. Lastly, it's shown Obamalamadingdong to be powerless and useless in a crisis which can only encourage further adventurism by the Dear Leader.

Blackdog

If they continue to pay a dividend this year then it is a buy, if not there could still be some more downside so wait and see.

Masomnia

http://uk.finance.yahoo.com/news/wrapup-4-bp-chief-vows-to-stay-sees-oil-spill-progress-targetukfocus-bb8f7bd21609.html

10,500 barrels caputured yesterday. Not bad going, I reckon it's good PR in any case, and if the dividend is paid then I still reckon there's a good chance of the price recovering somewhat in the near term.

StevieJ

Looks like Iran could soon have an oil major to do their drilling :eek:

AMERICAN legislators are examining plans to “debar” BP from government contracts and oil exploration deals as punishment for the Gulf of Mexico oil spill.

http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article7144839.ece

Then again maybe the US will use their brains for thinking with