[QUOTE=macker;2539988]
Quote:
Originally Posted by Cowperson
Well, BP's market value has dropped $100 billion in six weeks.
Their biggest problem seems to be that politicians are getting angry this is sticking to themselves and might be bent on revenge.
Might come down to BP filing an American bankruptcy as this would be a strategic move and if they file they don't go out of business but it just effects their American assets which are likely permanently impaired anyway. If the US raises the liability caps they may have to do this, although with the way things go in the legal system it could take up to 10 years for this to be settled through the courts and BP could earn up to $300 billion in profits by then....For those of you that think BP is cheap here, are you basing that on it being cheap compared to where it has been in the past? What is their business model going forward? At least with Exxon you knew the total amount of oil in the tanker.....there is no way of knowing how much oil is going to come out of the ground here...
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Hence one analyst saying the liability is $40 billion and another saying up to $177 billion. No one knows.
One Bloomberg columnist thinks BP should just tell whining, hypocritical America to go to hell since it's too late to repair it's reputation and they're going to get kicked out of the country anyway.
http://www.financialpost.com/news/ne...583/story.html
Cowperson