mitzy
- 25 May 2010 08:48
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.
Balerboy
- 16 Jun 2010 08:22
- 181 of 1170
mind the blood presure cyners.
Clubman3509
- 16 Jun 2010 08:27
- 182 of 1170
Shorters starting to close some positions
cynic
- 16 Jun 2010 08:28
- 183 of 1170
and your surname might be robertson too
skinny
- 16 Jun 2010 08:29
- 184 of 1170
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.
cynic
- 16 Jun 2010 08:31
- 185 of 1170
Florida's Panhandle - momentarily read that as texas panhandle, in which case, armageddon has already struck!!
Clubman3509
- 16 Jun 2010 08:35
- 186 of 1170
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.
cynic
- 16 Jun 2010 08:49
- 187 of 1170
a true story .... a young black boy at my son's prep school was called Blackie (perhaps now changed to Schwarzkopf)
Clubman3509
- 16 Jun 2010 08:50
- 188 of 1170
We had one called chalkie
Clubman3509
- 16 Jun 2010 08:54
- 189 of 1170
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.
cynic
- 16 Jun 2010 08:57
- 190 of 1170
environmental and humanitarian are not synonymous, or were your ears selectively shut
cynic
- 16 Jun 2010 09:37
- 191 of 1170
set stops and limits when i left home for the office, and was miffed on arrival as though i have been stopped out - but in fact it was modest limit up, so goody goody, as that will at least pay for a decent dinner for Beloved and myself
skinny
- 16 Jun 2010 10:32
- 192 of 1170
Dutch dredging company Royal Boskalis Westminster NV (BOKA.AE) said Wednesday it will deliver sand berms to protect the Louisiana coast from the oil spill in the Gulf of Mexico.
Boskalis, the world's largest dredging company, said it has deployed a trailing suction hopper dredger that will deliver sand berms along the Louisiana coast to stop oil from flowing into the state's fragile and hard-to-clean marshes.
The sand berms will be positioned to the south of New Orleans, in line with the Chandeleur Islands and stretching from East Grand Terre island to Sandy Point, Boskalis said.
The sand berms will be six feet high and around 75 kilometers long, it added.
skinny
- 16 Jun 2010 11:39
- 193 of 1170
UPDATE: Boskalis To Build Sand Berms To Protect Louisiana Coast
(Adds detail, CEO comment.)
By Maarten van Tartwijk
Of DOW JONES NEWSWIRES
AMSTERDAM (Dow Jones)
The project was awarded by the State of Louisiana after U.S. President Barack Obama gave his approval for the program, Boskalis said. The deal won't result in a significant financial gain, it added.
A team of U.S. government and independent scientists Tuesday increased their estimate of how much oil is flowing from BP PLC's (BP) damaged well in the Gulf of Mexico. It said that it now estimates that between 35,000 and 60,000 barrels a day are emanating from the well.
"Based on a rough estimate it will take 3 to 4 months to complete the project. But this estimate is surrounded with big uncertainties due to the difficult circumstances", Chief Executive Peter Berdowski told Dow Jones Newswires.
Some environmental experts in the U.S. have voiced concerns about the plan, saying the sand berms won't keep all the oil away from the Louisiana coast and that they might disrupt the ecological system.
"We'll closely monitor possible side effects during the project," Berdowski said. "I admit it's like choosing between two evils and [sand berms] aren't the panacea for the whole problem. But if the oil flows into the marshes it will be nearly impossible to remove it," he added.
Boskalis has some experience in dealing with oil spills: in 2000 it helped cleaning up after the sinking of the oil tanker Erika off the French coast.
Clubman3509
- 16 Jun 2010 11:49
- 194 of 1170
I think I must be jewish, I am arrogent, opinionated, right all the time, money before family, skrew the gentiles. Can I get one of those silly black skull caps on ebay.
Clubman3509
- 16 Jun 2010 11:53
- 195 of 1170
cynic
- 16 Jun 2010 12:29
- 196 of 1170
and they don't need to be black either ..... by the way, i am pretty certain that i am right in saying that covering one's head in synagogue (or elsewhere) only came into practice in the middle ages - adopted from another culture perhaps; i can't remember
incidentally, jewish family usually/often takes precedence over all - as in several other cultures
halifax
- 16 Jun 2010 12:37
- 197 of 1170
cynic is this thread about BP. or the history of the jews?
skinny
- 16 Jun 2010 12:42
- 198 of 1170
Yep - I'm back to the other thread!
halifax
- 16 Jun 2010 12:58
- 199 of 1170
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.
hangon
- 16 Jun 2010 13:02
- 200 of 1170
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?