The O'Bama Administration will be blamed if tax payers have to pick up the clean up bill.
BP could sell Alaska assets to APA. BP then wires 11 Billion to London and tells T Allen, O'Bama to shove it we are doing it our way or putting BP North America the child of parent BP,London into BK. There are already stories about BP doing just fine without operations in the USA. APA runs the danger of the BK court doing a claw back. I think this deal while on the surface looks great for APA will end up being a disaster for APA.
The US Govt has no say in BP selling assets in Canada and Egypt to Apache.
They might have a little say in BP selling assets in Texas and New Mexico. They should have no problems with these asset sales because it gives BP cash to pay for the clean-up and compensation.
"The US Govt has no say in BP selling assets in Canada and Egypt to Apache." Nonsense
The US Goverment has already told BP they want 30 days notice of all asset transfers. For instance, Venezuela is being sued by XOM. Any transfers can be subject to claw backs years from now if necessary. This can be accomplished by US courts,foreign courts, and international courts.
Oil spill media blackout UPDATE for Tampa, Florida: Gulf oil spill sea floor leak now confirmed
BP has confirmed that there is an oil leak on the sea floor several miles away from the Deepwater Horizon's damaged blowout preventer. The undisclosed specific location of the sub- sea leak is reported to be billowing oil and deadly methane
Rather have APA owning the assets than BP. Would look good to get the monkey off BP's back. APA is noted for exploiting well sites once thought to be providing deminishing returns. APA will make out handsomely if the deal goes through.
Hedgies are shorting the dollar now and this will cause the force price of oil outperform.
This administration has done substantial harm to health care & financials. The enormous tax increases next year will further damage the economy. Will the oil & gas industry be next? If he has the time, I suspect so.
BP has placed itself within the crosshairs of this administration. According to many legal experts, this administration in many ways has operated in disregard of law. While it may be tempting to acquire BP assets in a somewhat distressed situation, I am inclined to believe it a mistake as well. One who cares not how much harm one inflicts is a dangerous person.
APA acquiring BP's Alaska assets they will be subject to a claw back in any BP USA BK proceeding. There is no denying teh claw back unless the goverment gave APA a protection from liability. I think that's impossibe since tax payers would then be stuck with the cost. The O'Bama Administration has no stomach for taxpayes picking up the unlimited GOM cleanup cost. Also, what US banks will back APA in this deal. We bail out US banks to bail out a foreign corporation BP. The USA is doomed if we continue this course. BP will abandon the USA, if necessary, once the 11 Billion is safely in London protected by British courts.