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

amcluesent

>That's not how an escrow fund works.<

Not how it should work, but how it will work when the American Democratic elite smell $$. Old Man Kennedy bought the Presidency after all...

Remember, for sheer brazen 'in it for the money' attitude Hussein and Michelle Obama make Tony and Cherie look like rank amateurs.

ffacoffipawb

97trophy wrote: »

You are a very sick individual.

I am one angry individual.

Maybe Obama deserves another 911 to make him realise that that oil well is nothing like it.

ess0two

Why the anger?

luvpump

ffacoffipawb wrote: »

I am one angry individual.

Maybe Obama deserves another 911 to make him realise that that oil well is nothing like it.

I have to agree, that comparing this to 911 is perverse in the extreme ..

ffacoffipawb

luvpump wrote: »

I have to agree, that comparing this to 911 is perverse in the extreme ..

Obama Hussein is perverse.

sabretoothtigger

Gulf oil spill: BP faces $34bn in fines as Senate smashes estimates

Deepwater Horizon disaster costs for clean up and damages had been previously estimated at closer to $5bn

http://www.guardian.co.uk/environment/2010/jun/14/gulf-oil-spill-34bn-fines

And I have read a lot about BP has only leased the well from a 3rd party. I would have thought that the 3rd party would be the "guilty party" as it is responsible for the well overall?

The 3rd party is I think the Federal government who own this land. BP has leased land from them but would forfeit that right if subject to criminal charges.
That about sums it up, government interests were with BP and the business. Theres no extra profit in being careful and ensuring theirs expensive safe guards and excessive backup in case of failure so now they are overreacting.

Theres elections in november, the time for admitting it wasnt just a foreign company at fault will come after and I only say that because usa needs companies to pay them taxes so a massive smack down on business (or even just bp, they arent especially different to the others) is unlikely long term because usa is not the only place with oil.
Foreign investment on this scale is an asset

All reasons regulation was lax before the spill will be just as true after the elections, whether they ever learn anything longer term is severely in doubt

Northern rock had depreciating fundamentals and an illiquid balance sheet, BP just needs to oil price to stay near 70. Presuming the above is true and they avoid political malicious interference longer term, they will survive

ffacoffipawb

sabretoothtigger wrote: »

http://www.guardian.co.uk/environment/2010/jun/14/gulf-oil-spill-34bn-fines

BP, pay the statutory maximum of $75 MILLION, not one cent more, and walk away from these clowns.

Let them try and stop the leak.

A few fat American ar5es should do it.

ffacoffipawb

3:23 to 3:33 here

http://www.youtube.com/watch?v=L8hsDEIOFcs

Ahh, nostalgia ....

ChiefGrasscutter

dealer_wins wrote: »

And I have read a lot about BP has only leased the well from a 3rd party. I would have thought that the 3rd party would be the "guilty party" as it is responsible for the well overall?

I used to work in the oil and gas industry as a supplier on the manufacture of rig components.
Unlike when you give your car to a garage and let them get on with it and it's all their fault thereafter.... with such big projects there is always oversight by the main contractor and their consultants.
Although BP contracted the drilling part to Transocean who in turn contracted the cementing portion to Halliburton we don't know how much 'say so' BP was itself having on how the operations were conducted. They may have over-ridden proceedures.......who knows?...There are reports that Transocean modified the BOP - whether true or not I have no idea and have even less idea whether BP knew such a modification had been made and did they "approve" of it by signing off on some drawing/certification document etc.........So BP's fingers may be all over this one rather than being at arms length.

In the final end point of the investigation it MAY well be that someone changed something from that used previously (with probably good reason - new materials, cheaper supplier etc, etc) and didn't realise that the particular change had a serious knock on effect somewhere else, and either they didn't tell anyone or they did and the significance of the change was missed. This issue would probably not have mattered had not a seperate unrelated problem arisen during the drilling from which set of a chain of events started with multiple safety devices all failing and the end unfortunate result was the mess we now have.

I personally suspect the BOP did not work fully because in addition to the riser/drill pipe in it it also has inside it, blown up from deep down in the well by the force of the "blowout" sections of the well casing and the shear jaws cannot cut/seal through all of them so it jammed.

1echidna

I think those who are banking on either a softening of the American attitude or an escape from its responsibilities by bp are in for a disappointment. In good economic times the American establishment might show restraint and recognition of overseas economic interests. These are not times of economic prosperity and many in the US have suffered and are still suffering. They will applaud a ruthless attitude by the US administration and extracting every last dollar from an overseas corporation in a way that might not be the normal American way. Expect a lot of technobabble painting bp as irresponsible and incompetent and resulting in criminal charges against a number of bp employees. Relationships between the UK and US could become very strained indeed over fate of non US based bp assets and extradition of bp employees outside the US facing criminal charges.