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

amcluesent

Government Insiders: Get Ready for the Gulf "Dead Zone"

A looming environmental and population displacement disaster is brewing in the Gulf. The oil dispersant used by BP, Corexit 9500, is seen by FEMA sources as mixing with evaporated water from the Gulf and absorbed by rain clouds producing toxic precipitation that threatens to continue killling marine and land animals, plant life, and humans within a 200-mile radius of the Deepwater Horizon disaster site in the Gulf.

Plans are being put in place for the mandatory evacuation of New Orleans, Baton Rouge, Mandeville, Hammond, Houma, Belle Chase, Chalmette, Slidell, Biloxi, Gulfport, Pensacola, Hattiesburg, Mobile, Bay Minette, Fort Walton Beach, Panama City, Crestview, and Pascagoula.

FEMA officials also claim that the $20 billion compensation fund set aside by BP is not nearly enough to offset the costs of the disaster. The FEMA sources say the disaster will cost well in excess of $1 trillion, and likely closer to $2-3 trillion.

Never mind BP, it's time to short America. Obamalamadingdong will be kicking bottom for a while...

97trophy

BP PLC shares dropped as much as 9% in London on Friday, putting the drop the oil major's market capitalization at more than $100 billion since the Gulf of Mexico oil spill began

source

ouch!

worldtraveller

SP sub 300 this morning.

System

Remember Alaska? It's all cleared up now, wildlife is thriving, economy is booming, spillionaires thriving on the after-effects of the compensation money.

Remember the Kuwait oil well fires? Predicted to burn for 30 years, black smoke over the whole world, major climate change disaster, crop failures? All cleared up now and economy booming.

JamesU

sabretoothtigger wrote: »

Shell should be near its bottom I think. Last week was about as negative as it should get. Below 1650 is 1635 which is their uptrend and support at 1600 so thats not good news but relatively stable I think.

1635 would also match feb lows, I'd expect some buying just because of that. The sensible advice is probably just buy shell not bp

RDSB through 1650.

JamesU

sabretoothtigger

That is pretty negative, its shells lowest price for this year.
oil fell 3% from 78 to 75 dollars a barrel today but its no lower then last week or the start of the month so its just people estimating lower world growth I guess.
See where they close the week but still not in the bp league which could still lose 7% in a day rather then a month
http://uk.finance.yahoo.com/news/exxon-or-shell-should-buy-bp-for-88bn-says-analyst-tele-d0b87496941c.html

Anadarko has admitted to agreeing with details of the broken oil well. Fairly major news considering they could be sharing upto 35% of costs

http://www.ft.com/cms/s/0/75cd4c30-83ae-11df-b6d5-00144feabdc0.html?ftcamp=rss

Remember Alaska? It's all cleared up now

Some oil still stains the rocks there apparently with some tar balls still washed up

JamesU

sabretoothtigger wrote: »

That is pretty negative, its shells lowest price for this year.
oil fell 3% from 78 to 75 dollars a barrel today but its no lower then last week or the start of the month so its just people estimating lower world growth I guess.
See where they close the week but still not in the bp league which could still lose 7% in a day rather then a month
http://uk.finance.yahoo.com/news/exxon-or-shell-should-buy-bp-for-88bn-says-analyst-tele-d0b87496941c.html

Anadarko has admitted to agreeing with details of the broken oil well. Fairly major news considering they could be sharing upto 35% of costs

http://www.ft.com/cms/s/0/75cd4c30-83ae-11df-b6d5-00144feabdc0.html?ftcamp=rss

Some oil still stains the rocks there apparently with some tar balls still washed up

Yes, think RDSB drop not due to weaker oil price, sentiment on growth mostly, and testing around Feb lows. I guess wait and see how markets react following ECB refinancing, may be general selling.

Very interesting development with Anardarko. If their statement that the string and centralisers met acceptable industry spec are correct, this is a real plus for BP.

JamesU

JamesU

U.S Senate panel votes to end oil spill liability cap

How does the saying go? Anything is possible in America, or something to that effect.......

Not approved for law yet though.

http://www.reuters.com/article/idUSTRE65T4SA20100630?type=politicsNews


JamesU

StevieJ

JamesU wrote: »

U.S Senate panel votes to end oil spill liability cap

How does the saying go? Anything is possible in America, or something to that effect.......

Not approved for law yet though.

http://www.reuters.com/article/idUSTRE65T4SA20100630?type=politicsNews


JamesU

But to be backdated to mid April.

JamesU

StevieJ wrote: »

But to be backdated to mid April.

For sure, as in the article this may be legislated. Retrospective laws are a concept I find rather bemusing. Hence the comment...everything is possible in America.

JamesU