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General Chat Thread, Obama - Keep ya gob shut in General; Originally Posted by danrhodes when I heard the president of one of the worlds super powers saying "I just want ...
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    mossj's Avatar
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    Quote Originally Posted by danrhodes View Post
    when I heard the president of one of the worlds super powers saying "I just want to know who ass to kick", I don't think thats the attitude a person in such a position should be flaunting publicly.
    TBH thats exactly the sort of quote I want from a world super power leader... No nonsense and down to business.

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    mattx's Avatar
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    Well I'm off to the bank next week to purchase some BP shares now - best time to get them. They may fall again and no dividend will be paid possibly but for a long term investment I think you will be mad not to snap them up at the current price.

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    tech_guy (10th June 2010)

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    I wonder if BP will be in a position to sue Halliburton at the end of all this?

    It is unreasonable to expect a quick fix for a very difficult technical problem. Provided BP are doing all they can to fix it, O should back off. Someone should be paying fair compensation to those blighted, and for dealing with the ecological impact.

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    Quote Originally Posted by cookie_monster View Post
    Obama should be working on changing the attitudes of his citizens towards oil first, this is an important wakeup call for Obama who until just before this had started to issue drilling rights off the USA cost, these disasters have happened all over the world be people care less when it's a third world backwater. Hopefully Americans will think that bit harder next time they're filling up the 8 litre SUV. I'm not laying the blame firmly at their feet most of the west is equally to blame but they top the excess leader board.

    BP deserves criticism and has said that they will pay for the clean up operation, that won't be happening if Obama talks the company out of business.
    I agree totally. They have total disregard for anything outside their own country or the environment. 20 litre SUVs more like. BP was using contractors as well. It wasn't strictly their fault as such.

  6. #20

    tech_guy's Avatar
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    Quote Originally Posted by mattx View Post
    Well I'm off to the bank next week to purchase some BP shares now - best time to get them. They may fall again and no dividend will be paid possibly but for a long term investment I think you will be mad not to snap them up at the current price.
    I was just thinking the same - will probably let them spiral downwards for another week or so and then buy a couple of hundred for long term investment.

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    Quote Originally Posted by tech_guy View Post
    I was just thinking the same - will probably let them spiral downwards for another week or so and then buy a couple of hundred for long term investment.
    The core business is still sound and the yanks will always want oil. Even if they get taken over you I can see it as a good investment - ISA's are a waste of time at the moment, the only semi good thing are inflation linked interest accounts but you have to keep an eye on those - it's BP shares for me !! I have not own any shares for a while so it will be fun to get back in it again.

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    We cashed in all our ISAs at the start of the year as the return was so rubbish.

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    Looks like I will be following suit - may as well stick em in with the prem bonds I have - at least 25 a few times year is a better than the crappy interest rates.

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    Quote Originally Posted by Andrew_C View Post
    It is unreasonable to expect a quick fix for a very difficult technical problem. Provided BP are doing all they can to fix it, O should back off.
    Of course it's a difficult problem but it shouldn't be a "wow, we never thought that could possibly happen" type problem - if you dig a big hole in the ground and extract high pressure oil then there has to be a risk that something will go wrong. As it is, it looks like BP were just taking the mickey when they submitted their DR plan. Now, of course, whichever bit of the US government approved it should have checked it more carefully but ultimately BP wanted to make the money so BP should have been prepared to sort things out.

    BP might be doing all they can now but, as far as I can see, they weren't properly prepared and that's why it's taking so long.

    The biggest problem seems to be our old friends the bankers and their ilk. There's no real reason why BP shares should be falling through the floor. The company has huge amounts of money - far, far more than it will cost them to clean this up so there's no reason to expect financial disaster.

    I'm sure that in the long term it will become more expensive to drill for oil - the companies will have to put in place proper plans to deal with disasters and that will cost money but I don't see the whole oil industry collapsing.

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    Quote Originally Posted by mattx View Post
    Well I'm off to the bank next week to purchase some BP shares now - best time to get them. They may fall again and no dividend will be paid possibly but for a long term investment I think you will be mad not to snap them up at the current price.
    Try to get them in an "ISA wrapper", just in case the ConDems implement silly capital gains taxes - sounds much better prospect than a basic (0.5%?) cash ISA. There is no way that BP will disappear, as quite a bit is owned by the Merkins anyway

    mb

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    mattx (10th June 2010)

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    Quote Originally Posted by srochford View Post
    Now, of course, whichever bit of the US government approved it should be held fully accountable for their failure to refuse an inappropriate DR plan, and thus be held liable for any damages caused hence-with!!!
    EFA

    mb

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    Quote Originally Posted by srochford View Post
    Of course it's a difficult problem but it shouldn't be a "wow, we never thought that could possibly happen" type problem - if you dig a big hole in the ground and extract high pressure oil then there has to be a risk that something will go wrong. As it is, it looks like BP were just taking the mickey when they submitted their DR plan. Now, of course, whichever bit of the US government approved it should have checked it more carefully but ultimately BP wanted to make the money so BP should have been prepared to sort things out.

    I think this incident has made it abundantly clear just how difficult it is to control a situation like this 5000 meters below the surface. It makes me wonder just how many drilling locations around the world are one step away from disaster.

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    What about all the damage the American oil companies have done in places like Nigeria.....no word on them from Obama.

  16. #29
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    Quote Originally Posted by difinity View Post
    What about all the damage the American oil companies have done in places like Nigeria.....no word on them from Obama.
    Exactly. Stones...glass houses and all that!


    http://en.wikipedia.org/wiki/Bhopal_disaster

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    Quote Originally Posted by runcmd View Post
    BP should compensate the millions of US citizens whose lives have been blighted by their 'cut costs to make bigger profits' business model. Yes the contractors were American but BP chose to use them because they were cheap.
    From what I understand BP had to use entirely US contractors, by US law, and so chose the one who offered the 'best' combination of service and experience.

    Now most deep sea oil drilling expertese is actually Norwegan or British, as the Yanks like keeping their feet dry, so in this case the 'best' could not be selected form the 'best' available in the world.

    BP are still responsible and seem to be responding very well to their responsibilities, but they were/are playing by someone else's rules.

    I particularly like the way the company is not being referred to as 'BP' anymore, but 'British Petroleum', by anyone in the US.
    Last edited by Drummer_Boy; 11th June 2010 at 01:02 PM. Reason: Can't spell for toffee!

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