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.

Yep - I'm back to the other thread!

If BP is unable to quantify its liability in respect of this drilling disaster then their auditors may decide to qualify their annual accounts which would make it difficult for some fund managers to buy/hold these shares.

Skinny, on the environmental issues that US appears to be so keen on . . . . . (yr earlier post today).

- - - contrasts with the US devil may care attitude to oil consumption, eh?

Ah but now they have found a Rich Uncle, = Uncle BP.
Ain't life grand?

Quite! - Nothing less than you would expect from them sadly!

quite right hali; i allowed myself to get sidetracked

don't agree with you about accounts being qualified, because just as BP cannot quantify the claim against it, not can anyone else ..... alll that BP can do is make what feels like prudent provision, though you can guarantee that will be nothing like enough

as for the institutions, they are effectively obligated to hold BP for all sorts of pretty obvious reasons

cynic cannot agree auditors sign off company accounts for the benefit of shareholders if they feel the accounts understate potential liabilities they will qualify the accounts they do not need to quantify potential liabilities.Institutions are not all obliged to hold BP shares unless they invest in FTSE constituent shares, if BP stops paying a dividend then many pension funds will look elsewhere for equities with a good yield.

Clubman,

Don't forget the Volvo for those tall hats they wear and a street map of Golders Green.

Bank of America has told their traders not to book deals with BP beyond 30th june 2011.

We used to have lots of them in Manchester but the hoodies, and drug dealers moved in their area's and they left. So hoodies
& dealers do some good.

Here in Thailand they are not tolerated, and would soon be shown the departure door should they, or other groups try to play their race cards as they do in the UK.

oh yawn, big big yawn
aldwickk - i don't squelch but shall choose to ignore the boorishness

hali - interesting snippet, but BoA is not a UK institution .... but why 30th June?

I could seal the hole in a day. stuff it full with all the **** * ****** then cement them in.

Obama will be meeting the BP executives today, looks like he will beat the shite out of them.

sp clearly can't make up its mind whether 340 is a support that will support or fail .... odds must surely be on the latter

I have to wonder what Obama`s attitude would be like if it was an American oil company that caused this disaster? I`m pretty certain he wouldn`t be hanging them out to dry and would encourage the citizens of the US to stick together at during this unfortunate mistake. He`s new in office so has to be seen to be doing something for the American people but I firmly believe the Americans` attitudes would be different had this been a domestic company.

hypothesis, but i doubt it ... in any case, the public sabre-rattling often has little reflection of what is happening behind closed doors

sp slowly slipping away.

Q"uite glad I was playing golf today, BP. is totally oversold despite doom mongers, the crowd are quite rightly selling, Obama being President is just trying to be Presedential, but he is not stupid (hopefully). Watch this space. The important news is that mighty Spain are trailing 1 - 0 LOL!

ADRs about $30.55 at london close

Do BP's big donations to Obama matter?

The president has received more in political contributions from BP than any other federal candidate in the last 20 years. Is that fact important?


Obama received significant donations from BP. Should he give them back?

Over the past two decades, President Obama is the number one recipient of campaign donations from the company whose burned-out oil rig is now spewing millions of gallons of petroleum into the Gulf of Mexico, reports Politico. He received $77,051 from BP and its employees during his time in the Senate and while running for president. In total, the firm has given $3.5 milllion to federal candidates over the past 20 years. Is it possible the company has gotten special treatment from Obama, or are its donations not relevant to the spill?

That would explain the delay in responding, then: Now we know why Obama took "so long to respond to the oil spill disaster," says Cassie Fiano at her blog. No doubt they'll say it's just "coincidence that he dragged his feet" when he should have reacted quickly. But now that these donations are public knowledge, BP should prepare to be "thrown under the Obama bus."

BP's donations are irrelevant, or at least i hope they are .... there is certainly no reason why they should be returned ..... more interesting would be to know the politicking that is going on behind the scenes and almost certainly involving both sides of the pond .... it would be nice to think that it was all constructive discussion to determine how best to tackle this disaster, but i fear that is but a naive dream