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.

if you spill a glass of water at home, it is an accident and you mop after yourself - or does your wife do it for you?

in this instance, even if just an accident - i.e. not culpable negligence - BP still have an obligation in all senses of the word to clean up and to pay for same ..... nor is it for the uk taxpayer (some delude themselves that it's the gov't) to come to the rescue.

on a broader front, this is quite the most appalling ecological disaster from which it will probably take a decade to recover, and some aspects will be irretrievably damaged.
the economic impact in US Gulf is a separate issue, albeit devastating for those affected.

Maybe I can shite in somebody's driveway and say, 'oops, it's an accident'.

Far from U.S. Gulf, Nigerian thieves mop up oil spills

No one knows for sure how much oil has seeped into the rivers and creeks of the Niger Delta, but environmentalists say the ecological impact over time in one of the world's largest wetlands is much worse than in the United States.

"The oil spills in the Niger Delta are more than what has happened in the Gulf of Mexico," said Alagoa Morris, field monitor for Environmental Rights Action in Bayelsa state.

Oil companies turn on BP at US congressional hearing

WASHINGTON, June 15 (Reuters) - Executives from other major oil companies turned on BP Plc (BP.L) (BP.N) and defended their own drilling practices during a U.S. congressional hearing on Tuesday as they sought to stave off new government regulations in the wake of BP's oil spill in the Gulf of Mexico.

presumably drilling at 5000ft beneath the sea surface is somewhat more difficult than drilling on land ,what was BP'S disaster contingency plan?

as i posted some time back, as i understand it, the drill hit a methane bubble whose force blew apart the safety blocks ..... obviously these blocks were thought to be more than sufficient for all realistic contingencies, but of course testing could only ever be theoretical

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meanwhile, have closed half position at 342.3 for a smallish profit, but def better than a poke in the eye with a sharp stick ..... undecided whether or not to let balance run o'night

Be brave, cynic.

cynic as long as the oil continues to spew into the gulf of mexico where is the upside?

Maybe BP just have to let it spill and fill up the gulf... save the cost of drilling.

1.25m more on offer than bid and antarctic looking to be next stop, or puntas arenas at the very least

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.