The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

Let the profit run...this is a no-brainer.

worth keeping your eye on during the evening .... as london closes, BP ADRs are $30.26

Obama's address to the nation a bit of a damp squib, however it is quite clear he intends to screw every last cent out BP to pay for the damage they have caused to not only the environment but also to the livelihoods of all the tens of thousands of people living in the affected area.The question remains can BP survive this huge claim for compensation.

is there a trick in the tail somewhere along the line here ? lt all seems too easy? and if there is one thing the mkt has taught me is that there is no sure bet ... l couldnt agree more Halifax reg Obama who is expoiting to the full this populist stance and every cent screwed out of b.p is seen as another vote in the bag from a hungry vengeful joe average what with congressional elections around the corner. Hes like a dog with a meaty bone . . - .....but l have been reliably informed some big hedge funds in the city are discreetly buying - one was being interviwed on a trader feed and assuming the prog was over and not realising the microphone was still " live" said "yes sell...sell....sell you hippie losers -you walking fucking pricks .....This was very odd considering he had been advocating going short all the way through the interview ../.- utterly confused me - but the realist in me thinks that if b.p. cant stem oil flow until august with relief well then shorters are on a non brainer ....arnt they ? Or are they ? .......l am not sure at the moment ..............l spent a few days going through BP accounts and boy they not only have shedloads of liquid cash , a catalogue of complicated investing instruments via hunders of obscure subsidaries with tentacles penetrating every economy on the planet -, but they have some wealth in the ground that dwarfs cash position / investments - and some very powerful friends in all parts of the world . also i dont think b.p would have any trouble lending private cash to realise multiple billion dollar prospects. ..l dont want to get to serious here but lf Obama takes on BP , he will be taking on the old money of USA s finest and making the type of enemies that Johnny Kennedy made in the defence sector with his stance on vietnam ............the stakes are so high here... and the oil industry is a dog eat dog world . ...my personnel shorts have all been high volume but very narrow

there is also the argument that when everyone says "sell", it's time to buy - and vice versa

BP will not be allowed to fail, too many corrupt on the backhand payroll powerful people connected. This Obanana trumpet blowing would not have happened is Bush was still president. At least you knew where you were with Bush, in the pocket of the oil companies, and not the halelula, amen, amen wankers.

what a load of garbage mixed with conspiracy theory!
the only part that is true is that at the end of the day, BP will not go into admin ....

on the other hand, it is likely to be somewhat emasculated, with assorted assets sold off to fund this clean-up, and it's certainly hard to believe that it will ever recover to its full former self.

could it be sold to another? ..... nothing's impossible, but i would have thought that unlikely, for a variety of reasons

Your opinion Clinic, as one of the master race you would know about conspiricy theory

back to front .... i'm one of the chosen persecuted, but by golly, you do spout such a load of total crap sometimes

Be careful using the word golly I may be black.

mind the blood presure cyners.

Shorters starting to close some positions

and your surname might be robertson too

2nd UPDATE: Obama: BP Oil Spill Like An 'Epidemic'
(Updates with reactions from viewers in Florida)


By Jared A. Favole
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)

President Barack Obama on Tuesday said in his debut speech from the Oval Office that the BP Plc (BP, BP.LN) oil spill is an "epidemic" that the nation will be "fighting for months and even years."

Obama, in the highly anticipated speech, said the government will "fight this spill with everything we got," and work to blunt the economic and environmental damages of the unprecedented oil catastrophe that has captivated the public and engulfed his presidency.

Obama also laid out a plan to help restore the Gulf coast and said that BP is expected to pay for the environmental damage caused by the disaster. He also told the nation that a third party will oversee a $20 billion escrow fund to be paid by BP to help compensate those affected by the oil spill.

The speech comes as BP is capturing roughly 15,000 barrels of the 35,000 to 60,000 barrels of oil spewing out of the mile-deep well daily in the Gulf and Obama is fighting to deaden growing criticism that his administration can't handle the fiasco.

Some of that criticism was on display as Obama traveled by motorcade to Florida's Pensacola Beach Tuesday morning, where onlookers held signs reading "Day 55 Still No Skimmers" and "Enough Photo Ops," as well as signs saying "Thanks For Your Support Mr. President" and "Obama Rocks," according to reports of his trip.

The highly anticipated speech began a few minutes after 8 p.m. EDT in the Oval Office, a venue presidents use for speeches to address the nation in times of crisis, and comes after Obama's two-day trip to Mississippi, Alabama and Florida to survey the response to the disaster.

In his speech, Obama also explained the need for changes to how the oil industry operates and is regulated to ensure such a disaster doesn't happen again. Obama has blasted the federal government's relationship with the oil industry and said tougher regulations are coming.

He has already said that the main agency overseeing off-shore oil drilling, the Minerals Management Service, will be split so the arm that collects billions in oil royalties is separate from the division that enforces regulations. He has also placed a moratorium on some deep-water drilling in the Gulf and other areas, a step that has drawn a strong response from some Gulf residents who say the move fuels the economic pain of the calamity.

He also said in his speech the decision on imposing a moratorium was difficult and urged a presidential commission to quickly investigate and determine whether deepwater off-shore drilling can be continued safely.

Obama is expected to meet with a BP executive Wednesday at the White House, where they will discuss the escrow fund and claims.

Obama also told the nation that the oil disaster should be viewed as showing the perils of relying on traditional fuel sources and stressed that the country needs to fundamentally alter its focus toward renewable energy.

After the president's speech, a BP spokesperson responded via email, saying: "We share the president's goal of shutting off the well as quickly as possible, cleaning up the oil and mitigating the impact on the people and environment of the Gulf Coast. We look forward to meeting with President Obama tomorrow for a constructive discussion about how best to achieve these mutual goals."

Meanwhile, at Pensacola Beach in Florida, a couple dozen people watched Obama's televised speech at Sandshaker Lounge, a local watering hole.

Several said Mr. Obama didn't go far enough Tuesday night.

"He's still letting BP run the show," said Gregg Hall, a 48-year-old sales manager at a local car dealership. "From the very beginning, the government should have taken control."

Tar balls have been washing up on this town's beaches in Florida's Panhandle for more than a week, and Mr. Obama paid a visit to the town earlier Tuesday during a two-day Gulf tour of Mississippi, Alabama and Florida.

"I would like as much money going into this as in Iraq and Afghanistan," said Tracy Dwiggins, 52, a local civil servant, adding that the president should act "like it's a war."

Ricky Ray, 58, said the president should have declared a national disaster to get more help to the Gulf more quickly.

"I don't understand what it's going to take, how much oil has to be spilled," said Mr. Ray, a sales manager for an apparel company.

Florida's Panhandle - momentarily read that as texas panhandle, in which case, armageddon has already struck!!

Showing your age now, I had two mates at school one was yid, and one was sambo
guess they may have had to change their names due to UK PC.

a true story .... a young black boy at my son's prep school was called Blackie (perhaps now changed to Schwarzkopf)

We had one called chalkie

In an address to the nation last night, Mr Obama described the oil spill as the worst environmental disaster that America has ever faced.

He makes me want to spew. Nine dead, and some free oil on the beach.

What about other world disasters with thousands dead he is full of shit.

environmental and humanitarian are not synonymous, or were your ears selectively shut