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Old 05-30-2010, 03:25 PM
 
Location: State of Superior
8,733 posts, read 15,889,152 times
Reputation: 2869

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History in the making. BP, in the US will go away big time. Watch for a " new" Retail outlet in the near future. The criminal charges will be what sinks BP. They will go back to England with their tails between their legs. Trading of their stock will stop soon.( Government intervention). Their US arm will be nationalized. These predictions are all a guess, but I think it will happen, I agree with others, that story is much bigger than the public is aware.
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Old 05-30-2010, 11:06 PM
 
Location: Tri-State Area
2,942 posts, read 5,990,356 times
Reputation: 1839
Quote:
Originally Posted by darstar View Post
History in the making. BP, in the US will go away big time. Watch for a " new" Retail outlet in the near future. The criminal charges will be what sinks BP. They will go back to England with their tails between their legs. Trading of their stock will stop soon.( Government intervention). Their US arm will be nationalized. These predictions are all a guess, but I think it will happen, I agree with others, that story is much bigger than the public is aware.
Get ready for $150 Oil - if any of the above comes to pass and the end of the "economic recovery". How short a memory the general public has - anytime there has been a severe economic shock, the supply of oil has been in the mix. Sure, go ahead nationalize the US arm - afterall it was Amoco (a U.S. company acquired by BP) that had all those leases in the Gulf, chase out all the foreign companies operating in the Gulf, make the national companies operating there wary of sinking any more money into a place where the Congress can seek penalties it chooses to impose on a whim. But be prepared for what's to come if you choose to go down this path.

The President knows it, and so does most of the folks in D.C., it's the general public who's in for the severest of shocks when heating oil goes to $6 a gallon and gasoline is back to $5 a gallon. Don't worry, natural gas will be next when Congress turns to imposing new rules on fraking the shales.

Well, I've got to run, time to stock up on firewood for the impending cold and gloomy winter we will be having courtesy of the knee-jerk reaction in D.C. What else is new? Can't wait for the November elections, so we can throw those buffoons out into the cold!!
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Old 05-31-2010, 06:39 AM
 
Location: State of Superior
8,733 posts, read 15,889,152 times
Reputation: 2869
Amoco still delivers to our local BP, their name is on the pumps, and on the trucks.... What is not, is BP green everywhere else.... Public perception means a lot more than credit is given. " beyond petroleum" has a whole new meaning these days.
Its no big deal to exit the US retail market for BP. At some point they will do what they have to do, considering the reality of what will go on in the Gulf for many, many years to come.
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Old 05-31-2010, 10:27 AM
 
Location: Socialist Republik of Amerika
6,205 posts, read 12,830,640 times
Reputation: 1114
Scenario 1

Oil spill is blamed for extreme hurricanes that;
A. Are Cat 5 due to increased water temps by oil layer heating up surface temps.
B. Spread Oil around the keys and up the East coast.
C. Rain toxic chemicals across southern crop lands.

Scenario 2

Oil spill goes on for years until well is depleted (50+ million barrels)

A. Destroys all fish habitat in Gulf and East coast
B. Gulf states go on food stamps, and expanded unemployment
C. Tourism numbers go to zero

Scenario 3

Oil is stopped by August

A. BP ties up court system
B. BP goes bankrupt
C. Affected citizens riot

All 3 scenario's pose downward pressure on our economy. You can't take 30-50 percent of our coastal tourism, seafood industries, and potential ag lands off the books and think that the US economy is going to recover.

This will not only be the worst US ecological disaster, it will be the worst financial disaster to hit the US to date.

More to come. Think defensively
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Old 05-31-2010, 12:36 PM
 
6,578 posts, read 25,393,487 times
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I have 5 shares of BP bought at $57.12. Keep them? Sell them? At this point it's hard to imagine BP ever recovering from this.
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Old 05-31-2010, 02:12 PM
 
Location: Wherever women are
19,012 posts, read 29,630,510 times
Reputation: 11309
Quote:
Originally Posted by FarNorthDallas View Post
I have 5 shares of BP bought at $57.12. Keep them? Sell them? At this point it's hard to imagine BP ever recovering from this.
It hit 46 somewhere in the last week. That's because there still are some investors who hope that BP can fix it every time they make a press conference.

I don't see BP going up from here. They are looking at serious trouble.

The news says that the spill is not gonnabe fixed until August. That can beat the prices down, that's three long months of uncertainty. And even if it's fixed, what will ensue is a plethora of lawsuits and punitive actions (cuss words in the world of investing). They can kiss their stock market value goodbye

Glad you just got 5 shares
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Old 05-31-2010, 02:50 PM
 
Location: State of Superior
8,733 posts, read 15,889,152 times
Reputation: 2869
The days of Big oil are at their peak. The Gulf events will serve as a watershead, a benchmark, for the alternative enegery boom, push, trend, and just all around dispise of OIL. Some of it will be overblown, some unfair , some unjust, however etherway , its coming starting now. We are entering a new era of enegery and the quest for fuel sources. Look for the stocks of alternatives to grow now , their time is comming. This along may be the only silver lining to the spill in the Gulf. The damage to our ecostructure is a huge price to pay, but it is happening, ....sell your oil stocks and get on board, its time.
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Old 05-31-2010, 02:52 PM
 
Location: Central Alberta
156 posts, read 390,221 times
Reputation: 73
5 shares? Is that a typo?


Anyway, will this spill really cost BP 150 billion dollars? Will it even cost 15 billion? 1.5 billion?
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Old 05-31-2010, 03:01 PM
 
Location: Wherever women are
19,012 posts, read 29,630,510 times
Reputation: 11309
Quote:
Originally Posted by darstar View Post
The days of Big oil are at their peak. The Gulf events will serve as a watershead, a benchmark, for the alternative enegery boom, push, trend, and just all around dispise of OIL. Some of it will be overblown, some unfair , some unjust, however etherway , its coming starting now. We are entering a new era of enegery and the quest for fuel sources. Look for the stocks of alternatives to grow now , their time is comming. This along may be the only silver lining to the spill in the Gulf. The damage to our ecostructure is a huge price to pay, but it is happening, ....sell your oil stocks and get on board, its time.
Technically and technologically, the world is at least 50 years away from even "dreaming" to categorically replace OIL as the source of energy. Alternate energy is on the way for sure, but I'll be dead
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Old 05-31-2010, 03:07 PM
 
Location: State of Superior
8,733 posts, read 15,889,152 times
Reputation: 2869
Quote:
Originally Posted by Antlered Chamataka View Post
Technically and technologically, the world is at least 50 years away from even "dreaming" to categorically replace OIL as the source of energy. Alternate energy is on the way for sure, but I'll be dead
I disagree. Alternatives time is coming sooner than you think. Time line ? , well no , I am not saying we will get off oil tomorrow...it may be 50 years, but , it all depends on our federal Government as to how fast it goes. I still believe Big oil IS at its peak now.( which means the curve will be downward with some small peaks and valleys, but overall downward.
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