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

Yakubu22

My prediction (yesterday) of 375 remaining intact demonstrates my level of knowledge

Plus I've been mad busy this morning, meaning I missed the opening low of 345. They seem to be recovering now, so i might hold out a little longer.

StevieJ

Shell B down 1.44%
Exonn up 2.3%

What is that about?

Masomnia

Sh******************************t!

All part of the fun I suppose.

I think I may avoid checking the price for a week or two!

solventsoon

MohammadButler post reported as spam

Thrugelmir

tradetime wrote: »

If you are buying purely for the dividend, I would say, no, buying BP is not the smartest thing. There is considerable risk to this company from the current US administration, and you could get decent dividends elsewhere without the risk overhang.

With the market falling I wonder if there is a slippage of information from within BP, and that BP will cut the dividend if nothing more than a PR gesture to appease the US Government, and prempt any action taken against them. Fines etc.

BP supplies around 25% of the US Military's needs. So there are some very large contracts at stake. The loss to BP could be significant in revenue terms.

tradetime

I suspect BP is finished in the US. One of the side effects of the Obama administration's campaign against them going so far over the top, whether intended or not. Vilifying them in the eyes of the public will mean that going forwards it will be very difficult for any government department to use BP for many years to come.

JamesU

StevieJ wrote: »

Shell B down 1.44%
Exonn up 2.3%

What is that about?

No idea. But RDSB coming close to 1650 as discussed previously somewhere.

JamesU

fullstop

Excellent article in today's Guardian.http://www.guardian.co.uk/commentisfree/cif-green/2010/jun/10/obama-lessons-bhopal-bp

tradetime

fullstop wrote: »

Excellent article in today's Guardian.http://www.guardian.co.uk/commentisfree/cif-green/2010/jun/10/obama-lessons-bhopal-bp

It is a pretty good article that tells us nothing we didn't already know. Yanks don't really do history very well, as they just re-write it to suit. In US history books Union Carbide is probably some European company. Since they re-write history they don't like, there's nothing to learn.

The Obama administration has plenty of enemies in the US, time for BP to exploit that. Obama has set the tone, from the beginning BP has always said it will do it's best to put things right, pick up the tab. At this rate Obama will find a reason why they should fund the Afghan campaign, time BP went hostile.

tradetime

More backlash, time for Obama to feel some heat.
http://news.sky.com/skynews/Home/UK-News/Barack-Obama-RSA-Chief-John-Napier-Accuses-President-Of-Being-Anti-British-For-His-Attack-On-BP/Article/201006215647312?lpos=UK_News_Carousel_Region_0&lid=ARTICLE_15647312_Barack_Obama%3A_RSA_Chief_John_Napier_Accuses_President_Of_Being_Anti-British_For_His_Attack_On_BP_