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re: Reason for token cleanup effort by BP
Posted on 6/4/10 at 7:32 pm to Cosmo
Posted on 6/4/10 at 7:32 pm to Cosmo
BP net worth is around 120B from what I recall. However I think people are underestimating the cost of this thing if it runs until august. Claims could easily reach into 100B. The Florida tourist industry alone is worth 60B. Then the seafood industry. I saw the other day that 1/3 of the GOM is off limits for any kind of fishing. This would only get worse as time goes on. God help BP if the oil gets into the loop current and hits the Keys, Cuba, and East coast.
1
Posted on 6/4/10 at 7:39 pm to ThatsAllSheWrote
I'm right on board with you on this one brother. I've been thinking this one through and researching pretty hard, because I am about to buy a massive (for me) short position in BP. I've been keying in on the timing of capping and its effect on Florida, especially Tampa and south, the Keys and then the East Coast. Their sitting on a little south of $120B...closer to $100.
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