Obama did make a speech a couple months back talking about how deep drilling was safe. It doesn't make it his fault but it does put egg on his face.
It doesn't matter though.
Governments of all stripes and vintages thought (/hoped/were assured that) that this kind of spill wasn't possible or regulations would have been tighter. It took a series of failures in every one of the redundant safety systems out there to have caused this spill. Obviously this means that safety systems need to be even more redundant and perhaps need some third party oversight to make sure they are adequately maintained.
The net result from this is that there will be less offshore drilling in areas controlled by first world countries because it will be made to be more expensive, making some targets uneconomical in the short term. The result is that the US and all other oil importing nations will import even more from the middle east and africa and other more exotic locales and the next disaster of this sort will occur there instead of here.
So is this a good time to buy BP stock? I mean once they get this thing figured out you would think it should jump up. BP makes a lot of money, the cost won't be too much of an issue but the impact on their reputation will.
BP is a brand name in the states like Shell or Petro Can is here, so I would expect a sale or at least a name change for the filling stations.
Has anyone forgot about the Exxon Valdez ? This spill is way more of a PR. disaster and it may not be over for months, if the relief wells hit their mark.
So is this a good time to buy BP stock? I mean once they get this thing figured out you would think it should jump up. BP makes a lot of money, the cost won't be too much of an issue but the impact on their reputation will.
I'd give it an 80% that it's going to be a GREAT BUY!!
Maybe someone with bigger nutz could tell you when!
So is this a good time to buy BP stock? I mean once they get this thing figured out you would think it should jump up. BP makes a lot of money, the cost won't be too much of an issue but the impact on their reputation will.
BP may, under the worst case scenario, lose a years worth of profit over this and considering they need that money to drill wells to make even more money I don't think the companies future is too bright. Speaking of bright, one of the main assets they have is the worlds best and brightest people... I know they don't look like it now but the people that are not evolved in trying to fix this mess probably already have plans to jump ship to one of BP's competitors. Although a short term jump may happen when the leak is stopped completely BP will lose market share to its competitors in the long run.
Cameron is considered a leading expert in underwater filming and remote vehicle technology,
So... an expert on underwater filming is going to help... how?
I think they are already filming the leak quite well, it's plugging it that's the problem.
I highly doubt that James Cameron is an "expert" at deepwater anything. That's not to say he doesn't have experience with it. He simply doesn't have the time to put into it what it would take to be an expert.
It's amusing how much the public has so many ideas - "why can't they just do this?" - without any idea of how difficult working at that depth is. Robots must do the work, and everything is really slow. How long does it take for even a robot to get down to depth?
While Cameron is suppossed to be an expert on under water filming and underwater robotic vehicles, those two technologies are certainly not the problem.
Maybe he can open a quantum singularity which allows a cybernetic organism to go back in time and terminate the original founders of BP.
Then this disaster would never have happened.
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My name is Ozymandias, King of Kings;
In fact his position on off-shore drilling is simply being manipulated by the media to blame him for this. Its ridiculous.
Is anyone surprised by this, other than of course Tron.
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Rudy was the only hope in 08
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Considering how ridiculously small BP's US downstream operations are.....I can't see the any boycott or distaste for BP stock having a long-live stock impact. (even if every southern US BP station went kaputs (IIRC BP stations are just franchises anyway).
As mentioned, they're realistically going to have to pay out a good sum in the whole clean-up/remediation, but I can guarantee you they're going structure any financial statement impacts in a way to mitigate any further stock hits.
They've still got 99.9% of their upstream production going full bore, and I can guarantee you marketers aren't going to shy away from BP crude.
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I haven't been following this minute by minute but shouldn't the US government just take over and throw all their resources at it to fix this? They can send BP the bill later.
Is anyone surprised by this, other than of course Tron.
