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

JamesU

Yakubu22 wrote: »

BP now at 375....boat missed (again)? Or is there more pain to come?

Oh dear, have I missed the boat yet again?
I want to invest for profit, but without risk or pain
So much uncertainty and rhetoric for sure can be heard
Presumably a punt on BP is pretty absurd?

For those who understand, no explanation is necessary
Limit buys, sells and stops are a useful accessory
Buy and sell ignoring guesswork and tit-a-tatter
And for those who don't understand, they don’t matter


JamesU

Yakubu22

JamesU wrote: »

Oh dear, have I missed the boat yet again?
I want to invest for profit, but without risk or pain
So much uncertainty and rhetoric for sure can be heard
Presumably a punt on BP is pretty absurd?

For those who understand, no explanation is necessary
Limit buys, sells and stops are a useful accessory
Buy and sell ignoring guesswork and tit-a-tatter
And for those who don't understand, they don’t matter


JamesU

wonderful :undecided

worldtraveller

Yakubu22 wrote: »

BP now at 375....boat missed (again)? Or is there more pain to come?

That boat is a ferry! Due back again soon!

fairtrade

StevieJ wrote: »

I thought even the WWII debts were settled a couple of years ago.

Yes WWII debts have been paid and Labour used this as a photo opportunity, but we still haven't finished paying for WWI.

Bollingbrook

Yakubu22 wrote:

BP now at 375....boat missed (again)? Or is there more pain to come?

worldtraveller wrote: »

That boat is a ferry! Due back again soon!

The oil isn't even capped yet so there's plenty of time for more dips and market panic yet. Besides, the Hurricane season is approaching, who knows what challenges that may provide.

sabretoothtigger

BP's environmental bill to cost $100bn

http://www.iii.co.uk/articles/articledisplay.jsp?article_id=10101844&special_id=10097748&emv_mid=1105397696&emv_rid=1012526006381

Theres plenty of rocks in Alaska still stained black from 20 years ago. I guess thats worked out ok for exxon well enough that they now lecture bp because theres only so many people up there to campaign and complain.
The gulf is highly populated tourist area and so the land fall on this slick is a disaster for BP

Old_Slaphead

Perhaps we should ask the Yanks for compensation for all the grief with losses of pensions, jobs, houses etc caused (principally) by US banks when they polluted the world's financial systems with their effluent.
Not bigging that up too much over here are you Mr Ding Dong? How about some apologies Mr CEO America or are you stonewalling?

sabretoothtigger

BP, HAL RIG APC theflyonthewall.com:

BP says it has right to seek contribution from partners for claims paid Reported by Bloomberg

Sounds like what I thought was true, 65% of the 20bn or whatever is liable to BP and the rest is other companies. Obviously criminal and negligence charges would put everything on BP if they somehow used their controlling vote to overrule on work done causing the 'accident'

I keep hearing thats exactly what happened but no facts yet


http://www.bloomberg.com/apps/news?pid=20601087&sid=aySZeMyPjObE&pos=8



http://www.youtube.com/watch?v=FnlOQFYGhNc&feature=PlayList&p=CA8A3A3843EFB035&playnext_from=PL&index=3

1echidna

sabretoothtigger wrote: »

BP, HAL RIG APC theflyonthewall.com:


Sounds like what I thought was true, 65% of the 20bn or whatever is liable to BP and the rest is other companies. Obviously criminal and negligence charges would put everything on BP if they somehow used their controlling vote to overrule on work done causing the 'accident'

I keep hearing thats exactly what happened but no facts yet


http://www.bloomberg.com/apps/news?pid=20601087&sid=aySZeMyPjObE&pos=8



http://www.youtube.com/watch?v=FnlOQFYGhNc&feature=PlayList&p=CA8A3A3843EFB035&playnext_from=PL&index=3

I don't think the argument that "we were acting under orders" will absolve the contractors of some of the blame, nor should it. In fact contracts are normally written so that the contractor takes all the blame in these kinds of incidents although that won't wash when an incidence reaches this kind of prominence and internal emails, etc are exposed. Contractors may like to evade responsibility but normally it is right and proper that the company doing the work is responsible, although in this instance I can see that the responsibility needs to shared.

1echidna

I recently came across this comment from the US:

"How about the rest of us sue the shareholders for their role in helping create this catastrophe?"

I have seen the suggestion before that anyone who held bp shares at the point of the Deepwater Horizon explosion somehow bear some responsibility for the disaster, and if company assets are not sufficient to pay damages, fines etc the shareholders should be called on to pay the extra. Must admit the suggestion makes me slightly uncomfortable. Ethical investing has been a discussion point in recent years but this seems ridiculous, or is it?