Obama and oil company CEO's

quote:

---

Stop the Damn Oil!!!!!!!!!!

---

OOOOOOOOO they need to stop it. I wonder why they didn't think of that.


ETA: CEO's are the last people on earth i would have to get together to try and fix it.

if you think a room full of ceo's are the best chance to come up with an idea, you are smoking dope.

quote:

---

offshoretrash

---

+1




The only thing the gubbament can do right now is do a better job of protecting the coast of LA.

quote:

---

Obama and oil company CEO's

quote:


is very unlikely that BP will survive this disaster, simply due to the enormity of the disaster -- but you're kidding yourself if you think that selling off their assets would come close to covering the damages even in the short term. To get them to pay the bill, they must survive and continue to make money -- LOTS of it. Furthermore, honesty requires one to acknowledge that BP's owners are not just a room full of fat cats whose wealth you seem to covet. Like most of the other wicked corporations you want to "unplug" and "sell off," its ownership is largely comprised of people like your grandmother and my mom whose retirement IRAs and pension plans are invested in a whole host of corporate stocks and bonds, as well as other stable investment instruments. When BP goes down, so does the retirement of many thousands of individuals who -- unlike those off-the-grid fishermen -- worked hard, paid their taxes, and saved for their futures in hopes of never being a burden to others. While I agree that they need to be held accountable for any illegal or reckless actions, it will be a tragedy for many -- especially the U.S. taxpayer -- if BP does not survive.


I read this comment in a national Newspaper and its so true.People need to think about this.

---

In otherwords, another bailout for criminal actions.

quote:

---

What part of the government and Obama not knowing a fricking thing about oilwells don't you understand? I get so tired of hearing this dumb shite!

They have the best of the best involved with this and they can't figure it out so you think this dumb arse bunch of liberals and some suit wearing CEO will?

---

I agree that the federal government knows little about ins and outs of the oil industry and the engineering involved in drilling a well or fixing a blown well. The only real experts work in the industry. However, him meeting with experts and local officials about the clean up can only help. Also, it is not liberals who are criticizing the president, it is conservatives. Yeah, the people who believe in small government and not getting involved in the private sector are the ones who are saying the president has not done enough. That his efforts after the spill and his working with BP were not enough when it is obvious BP has been in the wrong the entire time. So maybe you should be tired of conservatives complaining.
There is a lot of blame to go around. The industry, the federal government, and the state and local governments. In my opinion, we, the state of Louisiana, holds a lot of the blame. Since Louisiana has the most to lose with a disaster like this, we should have had a sophisticated plan in place to protect our coast. There should be a better protocol to follow and more advanced methods and technology to clean up the spill. Obviously I think this accident exposed some flaws in how BP attempted to clean up the spill and cap the leak. But spills happen, it is a risk we have to take when drilling. I just think we, Louisiana, should have been better prepared.

I really don't care who makes these stupid statements.

The only thing I would blame on the government is being slow on the clean up and containment. They have nothing to do with the leak.

I know what is going on in the war room trying to stop this thing because I work with these people. I promise you they are doing all they can and getting advice from all over the world on how to stop this thing. The last thing BP would ever want is this!

BP is currently a company that has assets worth $160 billion. They also have roughly $30 billion in debt. Therefore they have roughly $130 billion in equity. Their equity value prior to this catastrophic event was roughy $175 billion indicating the capital markets have valued the financial impact to BP for this event to be $45 billion. That doesn't mean the loss is entirely what will all be spent on cleanup since litigation will have it's toll as so will an errosion of brand loyalty worldwide. therefore, I wouldn't jump to the immediate conclusion that this couldn't bankrupt BP ... in my opinion, it's definitely a possibility.

Neither was General Motors, Lehman, Worldcom, Enron .... or Greece.

You should do some homework on how bankruptcy works. Just to entertain you, Lehman had assets of nearly $700 Billion. Washington Mutual more than $300 Billion. I would use your time to learn more before you spout off incorrect information you obviously don't know much about. Good night.

quote:

---

If BP doesn't drill another well ever they still pull in 30B a year just in production.

---

I don't think people understand how much is spent by these companies every year to develop new reserves. Most spend $20+ billion on new developments a year. And they still end up $20 Billion in the black. Thats $40 Billion a year in capital if they truly wanted to...