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

97trophy

Any ideas why?

tradetime

Yakubu22 wrote: »

I have my stock ticker running on this. I think a lot of people may be tempted at around this level. Although i'm not sure if it will quite hit 375.

Yes governments are great at pretending any disaster they turned a blind eye too is a complete out of the blue shock event, that is entirely someone else's fault. This administration, since it came to office has done nothing but look around for someone to vilify, whip up the public anger, and play to it, spitting venom. Granted, in BP's case, given what has happened, that wasn't too hard. Harsh though it may be, I'm with the author of the article, given the way the Obama administration has reacted to this, I'd hire the best lawyers money can buy with the express intention of fighting this all the way, no more pleasantries.

sabretoothtigger

Obama is going to kick their booty and fire Hayward

It seems 20k barrels have been leaking out this whole time since siphoning 15k has not been enough ? BP caught behind the curve in coping with the flow again

BP if they werent so big would be a takeover target. If that doesnt happen the company could float subsidary assets off to realise their proper pricing.

Norway has banned drilling also apparently, a worldwide knock on effect is an unforeseen negative perhaps

worldtraveller

97trophy wrote: »

Any ideas why?

General negative sentiment?

When will this crisis actually end and/or when will there even be an actual indication of some end point?

However, not just that, but the U.S. political & environmental issues that are likely to affect BP for some time to come!

tradetime

97trophy wrote: »

Any ideas why?

Don't see any new news on it at the moment, but it's certainly taking a plunge, that should follow through into the London trade tomorrow.
Started @ 11:30 EST stock fell off a cliff (yet another cliff )

JamesU

97trophy wrote: »

Any ideas why?

Some new info in link here: 72hrs to come up with contingency plans (but no consequential threats mentioned), inside the article mention of renewed push to force legislation on removal of cap on liabilities, 4th Obahma vist etc etc. Nothing more serious than the usual banter to me though...

http://edition.cnn.com/2010/US/06/09/gulf.oil.spill/index.html?hpt=T2


JamesU

JamesU

worldtraveller wrote: »

General negative sentiment? When will this crisis actually end?? Or, when will there even be an actual indication of some end point??

However, not just that, but the U.S. political & environmental issues that are likely to affect BP for some time to come?

Who knows. As you said previously, a punt in Vegas is just as reasoned as working out a bottom for the share price. Still going to dip in again though

JamesU

worldtraveller

JamesU wrote: »

Who knows. As you said previously, a punt in Vegas is just as reasoned as working out a bottom for the share price. Still going to dip in again though

JamesU

Hey, good luck James, and I mean that! I may well do the same at some point. As a long term investment, it's probably a good bet now anyway. Depends on what your strategy is.

The problem to me is that this is a constantly evolving situation with, as I see it, no real end point, yet! When that situation appears to be changing I'll maybe dip the old toes in the water. Until then, I'm happy to see it drift.....down!

ess0two

Totally off-topic,just come back from New York.

CNN have a news channel dedicated to this spill with a dedicated spill counter on screen,clocking up in gallons the release so far.Also shows the spill on screen at the sea bed,its making massive news at the mo out there.

Sceptic001

More on the latest price plunge here: http://www.thestreet.com/story/10779226/1/bp-stock-tanks-trading-below-book-value.html