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.

there will be a lot of high level political discussion behind the scenes and BP may end up doing a trade-off to avoid certain liabilities, but assuredly they can't be forced to just hand it over - it isn't venezuela!

Why it is not BP's oil, it is oil on US land/sea

Fast reversal now up

as i said, but you have not noticed, USA is not Venezuela, so (effective) nationalisation as you suggest would not be an option - no doubt your white supremacist (+ pretty asian girls) utopia would do otherwise!

BP only has a license, it does not own the oil, US can and will do what it likes as it has done in Iraq, Afganistan, and to Iran in the future.

yeah yeah yeah .... all oil wells are under licence even in the north sea .... you're being very silly this morning

Got out of bed on the wrong side Cynic or is it a jewish no do the Mrs day.

Listen CynicObama has already tried to put a stop to new drilling in the Gulfand a six-month ban on new deepwater drillingthe most Democratic Country in the Worldcan and has been the most undemocratic in the pastthe Yanks will do whatever suits them best

He won't listen Tabby. I agree the Yanks will do what they want forget doing the right thing.

not at all, but the pair of you are unreal in all senses .... ban - clearly so .... do US want the oil - desperately .... will US gov't (effectively) nationalise - don't be so bloody silly ..... will there be some diplomatic deal arranged behind the scenes - quite possibly

You talk shite Cynic

your opinion, which i don't share .... i could have said similar to you, but at least i set out my logic which, at least in my opinion, is supported by some sort of reality

Cynicdo you believe that diplomatic deal arranged behind the scenes will be beneficial to BP?>>>>MORE LIKE A SHAFTING!!!!

i suspect it would be along the lines of BP handing over their licence in exchange for (effectively) no prosecution and the purchase price being the cost of acceptable damage reparations (or at least a significant chunk of same)..... but your guess is as good as mine in that respect

whether you would perceive that as BP being shafted or an exit route from a very very nasty place with some honour (saved face) is a matter of opinion

So Cynic are you saying the US will allow BP to drill new well in same location

BP shares steady

Shares in BP remained steady in early trading despite the overnight news that a US Congressional Committee has agreed measures that would ban the company from new offshore drilling for seven years.

The proposed measure would cover all companies that have had 10 or more deaths in the last seven years.

The explosion in April at BP's Deepwater Horizon rig in the Gulf of Mexico killed 11 workers.

Cynic...BP has broken vital health-and-safety rules 54 times over the past five years in the UKAs a result H and S has served BP companies with 21 legal enforcement notices since 2006...blame to my knowledge has yet to be determined in the Gulfbut it dont look good on their past recordI think BP have nothing to negotiate withthey will get told to get the fcuk outand pay for the devastationthats my takeFWIW

MRSI's post has rather more validity and throws an interesting slant .... early political manoeuvring afoot

BP will be told licence revoked, fuck off, and pay for all clean up plus very large fine.

all will be revealed in due course ..... meanwhile, sp is steady to better ..... $37.07 at london close