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Message
did i just hear this right on fox news?
Posted on 6/16/10 at 5:49 pm
Posted on 6/16/10 at 5:49 pm
in the context of talking about bp going belly up and bankrupt over the situation, one guy said that bp has 18 billion barrels of oil reserves totaling 1 trillion dollars 
they said getting to the cash might be difficult
they said getting to the cash might be difficult
4
Posted on 6/16/10 at 6:19 pm to dreaux
Posted on 6/16/10 at 6:49 pm to donRANDOMnumbers
Like many of us have been saying, no need to worry BP is not going anywhere.
Posted on 6/16/10 at 7:31 pm to GREENHEAD22
quote:
Like many of us have been saying, no need to worry BP is not going anywhere.
The problem seems to be that some just want them to go bankrupt no matter what. It's more about revenge/ideology/polical points than actual justice and compensations for damages/injuries.
Posted on 6/16/10 at 7:57 pm to C
Have a friend who is a real big whig for Shell ... hoping that BP goes under ... they're ready to swoop in or so I'm told
Posted on 6/16/10 at 8:07 pm to tiger91
I just keep getting the feeling that someone is trying to take BP down. I could be way off base, 
Posted on 6/16/10 at 8:16 pm to Impotent Waffle
quote:
Have a friend who is a real big whig for Shell ... hoping that BP goes under ... they're ready to swoop in or so I'm told
I can see a merger but an out right take over would be difficult. And im sure Shell is licking there chops, BPs tangible resources are astronomical.
Posted on 6/16/10 at 8:18 pm to Impotent Waffle
Obama wants to hurt big oil. Here is his chance to take some shots at BP.
BP set up an account of 20 billion to pay their legal obligation of 75 million due to pressure from Obama. They were already paying these people and planned to pay billion. This tough talk by obama to force bp to do what they were already doing is just political crap.
Why is bp paying way more than they are legally required to in compensation? Why did bp donate half a billion to gulf affect research, why did bp donate 100 million to pay for drilling workers some money. All of this and more they are doing for PR reasons, certainly. But is there more... are they trying to take a bit of the venom coming out of everyone from Obama on down because they believe obama wants to wreck them.
Why did obama not appear mad until he was forced into acting mad by the media jumping on him for not acting upset? Could it be because he was not upset and instead is relishing this chance/excuse to shut down domestic drilling and advance his preelection stated agenda of getting rid of fossil fuels and converting everthing over to solar/wind/cow dung???
Could this be why Obama has kept the oil skimming equipment from the Netherlands from being used until AFTER we have impact on Florida beaches?
BP set up an account of 20 billion to pay their legal obligation of 75 million due to pressure from Obama. They were already paying these people and planned to pay billion. This tough talk by obama to force bp to do what they were already doing is just political crap.
Why is bp paying way more than they are legally required to in compensation? Why did bp donate half a billion to gulf affect research, why did bp donate 100 million to pay for drilling workers some money. All of this and more they are doing for PR reasons, certainly. But is there more... are they trying to take a bit of the venom coming out of everyone from Obama on down because they believe obama wants to wreck them.
Why did obama not appear mad until he was forced into acting mad by the media jumping on him for not acting upset? Could it be because he was not upset and instead is relishing this chance/excuse to shut down domestic drilling and advance his preelection stated agenda of getting rid of fossil fuels and converting everthing over to solar/wind/cow dung???
Could this be why Obama has kept the oil skimming equipment from the Netherlands from being used until AFTER we have impact on Florida beaches?
Posted on 6/16/10 at 8:23 pm to Impotent Waffle
quote:
I just keep getting the feeling that someone is trying to take BP down.
Yeah.....BP.
Posted on 6/16/10 at 8:24 pm to omegaman66
Not big on the conspiracies but when it comes to this man I put nothing past him.
Posted on 6/16/10 at 8:46 pm to dreaux
Exxon spent 20 years in court fighting payoff on damages from the Valdez spill.
Posted on 6/16/10 at 8:48 pm to Tbobby
quote:
Exxon spent 20 years in court fighting payoff on PUNITIVE damages from the Valdez spill.
FIFY
Posted on 6/16/10 at 8:55 pm to udtiger
quote:
Exxon spent 20 years in court fighting payoff on PUNITIVE damages from the Valdez spill.
FIFY
Anything different here?
Posted on 6/16/10 at 9:14 pm to GREENHEAD22
quote:
quote:
Have a friend who is a real big whig for Shell ... hoping that BP goes under ... they're ready to swoop in or so I'm told
I can see a merger but an out right take over would be difficult. And im sure Shell is licking there chops, BPs tangible resources are astronomical.
+1 Exxon would be able to do it first though.. either way it's not going to happen.
Posted on 6/16/10 at 9:59 pm to Tbobby
yes, your post made it seem that they will pay $75 million max.
punitive damages cover absolutely nothing, they are just meant to punish the corporation and are currently capped at $75 million
compensatory damages are unlimited i believe and will cover any and all cleanup costs (or so we've been led to believe)
punitive damages cover absolutely nothing, they are just meant to punish the corporation and are currently capped at $75 million
compensatory damages are unlimited i believe and will cover any and all cleanup costs (or so we've been led to believe)
This post was edited on 6/16/10 at 10:00 pm
Posted on 6/16/10 at 10:31 pm to dreaux
quote:I'm almost positive they said million, but I could be wrong
18 billion barrels of oil
Posted on 6/16/10 at 10:41 pm to dreaux
I think they would make it happen to bankrupt BP America which is seperate from BP International i presume. that was the feds would have to assume the cost for mostly everything.
Posted on 6/17/10 at 1:06 pm to Tbobby
quote:
quote:
Exxon spent 20 years in court fighting payoff on PUNITIVE damages from the Valdez spill.
FIFY
Anything different here?
Yes.
Compensatory damages are categorized into two subsets: general damages and special damages.
"General" damages are things like wrongful death, pain and suffering, mental anguish, emotional distress, loss of consortium, etc. "Special" damages are those that can be readily quantified (either precisely, or in a manner that is realatively accurate). In this case, it would be such things as lost profits, lost income, lost benefits, lost rental, etc. Both of these elements of damage allow for recovery of past (since the incident to the trial) and future (beyond the trial).
In the instant case, most of the damages that will be awarded will be special damages for the economic impacts and costs of clean-up, remediation, prevention, etc. (the exception would be for the survivors of the DWH, and the injured workers and their families). The future element of these damages will be as to the "long term" economic impacts beyond when the well is capped and the last "free floating" oil has come to rest. These types of damages are relatively speculative, but can be determined with a certain degree of certainty.
These damages are vastly different from punitive damages, which as was noted, are soly to punish the wrongdoer for its "bad behavior" as an incentive to not act in the same manner again. While Exxon fought the initial Valdez award generally, its primary focus and the part of the case that lasted for 2 decades was the punitive damage award, not the compensatory damage award.
It is worth noting that Louisiana state law does not provide for punitive damages under these circumstances.
Posted on 6/17/10 at 3:09 pm to udtiger
quote:
I'm almost positive they said million, but I could be wrong
You are wrong.
Posted on 6/17/10 at 3:20 pm to ForeverLSU02
quote:
I'm almost positive they said million, but I could be wrong
I bet there's greater than 18 million barrels of reserves just out of the Horizon well.
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